x
Views
Address
74316 Alessandro Drive Drive Palm Desert, CA
Price
$ 759,000
Property Attributes
  • MLS#218028618
  • TypeIncome
  • CountyRIVERSIDE
  • CityPalm Desert
  • AreaPalm Desert North
  • Zip92260
  • StyleLow Rise
  • Price$ 759,000
  • Bedrooms8
  • Full Bathrooms4
  • Half Bathrooms0
  • Lot Size11,326 SqFt
Listing Provided Courtesy Of:
Baxley Properties Inc
Property Description

Always Leased! Current CAP at 5.3%. Great opportunity to own a income producing property. These units are in a great location being only 3 blocks to El Paseo & 2 blocks to grocery shopping and multiple restaurants. High school, middle & elementary schools are within walking distance. Property consists of 2 buildings with 4 units: each unit has 2 bedrooms & 1 bath. 100% occupied. Rents are currently below market value: 2 units are at $1,100. 1 at $1,150 & 1 at $1,200 monthly. Market rents should command +/-$1,250 monthly or more. Proforma NOI = $45,293.00 - Market rents to produce a CAP rate of 6.0% or higher. All units have 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. Buyer to verify square footage, zoning, utilities and financials. PLEASE DO NOT DISTURB TENANTS - Leases and showing available upon accepted Purchase & Sale Agreement. Income Statement and Marketing brochure attached.

Elementary School Middle School High School
Unknown Elementary School Unknown Middle School Unknown High School
Price History
10/15/2018 Listed $828,000
12/21/2018 9% - $759,000

General Features

Amenities Other
Grn Certif Rating 0.00
Levels One
MLS Area Palm Desert North
Maintenance 0.00
Number of Units Leased 4
Property SubType Residential Income
Property Type Residential Income
Senior Community Y/N No
Subdivision Name Not Applicable-322
Tenant Pays Cable TV, Electricity, Gas
Terms Cash To New Loan
Total Units 4
Transaction Type Sale
Trash Expense 0.00
Water Sewer Expense 0.00
Year Built 1960
Zoning DEO (Downtown Edge Overla

Interior Features

# Of Ranges 0.00
Avg Sq Ft 2 Bedroom 800
Cooling Air Conditioning, Ceiling Fan(s), Central A/C
Dishwasher(s) 0.00
Disposal(s) 0.00
Fireplace Features Brick
Fireplace Fuel Gas
Fireplace Location Living Room
Fireplace Y/N Yes
Full Baths 4
Laundry Yes
Laundry Features Washer/DryerHook-up
Living Area 0.00
Refrigerators 0.00
Total Bedrooms 8
Total Fireplaces 1

Exterior Features

Bathrooms 4.00
Architectural Style Low Rise
Casita/Guesthouse None
Exterior Features Stucco
Facing Direction FrontDoor Faces West, FrontDoor FacesSouth
Land Lease Amount 0.00
Land Type Fee
Lot Size Acres 0.26
Lot Size Source (Assessor)
Lot Size Square Feet 11360.00
Lot Size Units SqFt
Number of Buildings 2
Number of Separate Electric Meters 4
Number of Separate Gas Meters 4
Number of Separate Water Meters 4
Pool Construction In Ground
Pool Descriptions Other
Pool Features Safety Gate
Pool Location Community Pool
Private Pool Y/N Yes
Sewer In, Connected & Paid
Spa No
Total Other Spaces 8
Total Parking 8
View Y/N Yes
Water Source In Street

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Pets
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 92260

Price
AVG $790K
$760K
Visits
AVG 15
32
Year Built
AVG 1979
1960
Walkscore
AVG 54
55
Data Provided by Walkscore ® not using MLS data

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