74443 Driftwood DR Active Save Request In-Person Tour Request Virtual Tour
Palm Desert,CA 92260
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,188 sqft
Price per Sqft $323
Subdivision El Paseo Village
MLS Listing ID SW25054919MR
Bedrooms 2
Year Built 1974
Lot Size 9,148 Sqft
Property Sub-Type Multi-Family
Property Description
This offering is a rarity. A trophy apartment in the finest area of Palm Desert, the area of El Paseo! And it's just short walking distance from the El Paseo shopping district, grocery, and the Westfield Mall. Palm Desert is the finest area of the Coachella Valley, and the El Paseo district is the finest area of Palm Desert!! This 4Plex consists of four 2 bedrooms, 1 & 1/2 half baths. It further has carport parking, a beautiful pristine pool, and a large pool deck for tenants and guest. The kitchens are upgraded with newer appliances and granite counter tops. This complex further has central heat/air throughout. All tenancies are month to month and can be brought up to market. There's one vacancy and one unit who's currently a handyman/manager who can be brought up to market rents. PLEASE SEE RENT ROLL ATTACHED IN SUPPLEMENTS PACKAGE. Since rents are month to month, please check out the market rents you can get in this fine neighborhood. Nearby market rents per rent comps are $2,300 per month. PLEASE SEE RENT COMPS IN SUPPLEMENTS ATTACHED. At market rents, the complex really performs. It puts out $110,000 in annual gross income, a 9.33 Gross Rent Multiplier, a 9.84% Cap Rate, and a robust 21.95% Cash on Cash Return!! PLEASE SEE THE SUPPLEMENTS ATTACHED FOR DETAILS ON THESE RETURNS!! Seller to pick services. Buyer/Buyer's agent to provide and pay for (email, DocuSign, etc) all TC services for Buyer & Seller, including all disclosures, documents/paperwork, they require for Buyer and Seller to sign. SELLER MAY CARRY!!! PLEASE CALL FOR DETAILS!!!
Location
State CA
County Riverside
Area Palm Desert South
Zoning R303M
Interior
Heating None
Laundry Laundry Area, Room
Exterior
Garage Spaces 5.0
Pool Private
Community Features Foothills, Storm Drains, Street Lights
Building
Story 1
Sewer Public Sewer
Water Public
Others
Special Listing Condition Standard