74316 Alessandro Drive Drive
Palm Desert, CA 92260

Description

Current CAP at 5.2%. Great Opportunity to own an income producing property. These units are in a great location with close walking distance to shopping centers. Property consists of 4 Units, 2 buildings: each unit has 2 bedrooms & 1 bath. All units are currently rented. Rents are currently below market value: 2 units are at $1,100 monthly and 2 units at $1,150 monthly. Market rents should command +/-$1,250 monthly. Proforma NOI = $45,293.00 - Market rents to produce a CAP rate of +/- 6.0%. All units have a central HVAC, ceiling fans, washer/dryer hook-ups and small back patios. Zoning allows for upward expansion of the property up to three (3) stories high. Buyer to verify square footage, zoning, utilities and financials. PLEASE DO NOT DISTURB TENANTS - Leases and Tour available upon accepted Purchase & Sale Agreement. Please ask for an Income Statement.

Details

MLS#218028618DA
Sub-TypeResale
StatusActive
Year1960
Days On Site47

Features

Units4
Building(s)1

Market Activity 92260

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Area Information

StateCA
CountyRiverside
CityPalm Desert
Zip Code92260
Area322 - North Palm Desert
Listing VS Median (in 92260)
Price:
$759,000
low | high
Med:
$347,900
100% of Average
On Site:
47
low | high
Med:
2
100% of Average
Listing Updated: 02/20/2019
MLS Number: 218028618DA
Listing Provided By:
Dick Baxley  of  Baxley Properties Inc
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