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$ 1,680,000
Est. payment | /mo
0.43 Acres Lot
$ 1,680,000
Est. payment | /mo
0.43 Acres Lot
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
MLS Listing ID 219132613DA
HOA Y/N No
Year Built 1983
Lot Size 0.430 Acres
Property Description
Rare opportunity to acquire 7 single-story units on a quiet street in an up-and-coming residential neighborhood featuring newly remodeled larger, modern homes. The building has great curb appeal on a large lot that could potentially be further developed. There are 6, 1-bed 1-bath units and 1, 2-bed 2-bath unit. Each unit has a small enclosed front patio, adding to the desirability. Most units have thoroughly updated kitchens, flooring, air conditioning, and window treatments, and are contemporary, not dated. Bathrooms are modern, and each unit is kept painted. All 7 units have separate gas and electric meters. An on-site laundry provides additional income and attracts tenants. There are multiple long-term tenants. Proforma Rent 109,920 + Laundry 797.95 = 110717.95 Gross RevenueExpenses: Taxes - 22,086.16; Insurance 4,864.50; Electric 1,025.08; Gas - 1,254.01; Water - 886.27; Landscaping - 2,400 = 29,350.66 Total Expenses Net Income : 81,367.29
Location
State CA
County Riverside
Area 335 - Cathedral City North
Interior
Heating Central, Heat Pump
Cooling Central Air, Electric, Gas, Heat Pump
Flooring Tile
Fireplace No
Appliance Water Heater
Exterior
Parking Features Guest, Unassigned
View Y/N No
Private Pool No
Building
Story 1
Sewer Unknown
New Construction No
Others
Senior Community No
Tax ID 677173055
Acceptable Financing Conventional, 1031 Exchange
Listing Terms Conventional, 1031 Exchange
Special Listing Condition Standard
Listed by Marc Grossman Grossman Real Estate
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Carlos Echegaray
Broker | Lic# DRE 02006401