27700 Avenida Terrazo - Apartments FOR SALE


Cathedral City, CA 92234
$1,800,000 USD
909-608-7426
27700 Avenida Terrazo, Cathedral City, CA for Sale
$1,800,000 USD
Apartments - FOR SALE
1/16
null | 3.95% Cap Rate

27700 Avenida Terrazo
Cathedral City, CA 92234


HIGHLIGHTS

  • Close proximity to I-10 and commercial centers.
  • This is the only multi-family property in this Single Family Residential area.

OVERVIEW

Exceptional opportunity to acquire a 7 unit, well maintained, rental property in a lovely rediential neighborhood of single family homes. Consisting of six 1 bedroom, 1 bath units and one 2 bedroom, 2 bath unit, all units have separate gas and electric meters enabling tenant paid utilities.There is a common laundry room for the use of the tenants, which also generates additonal income for the owner. This unique property, just off of Vista Chino, is located close to all of the neighborhood amenities, including shopping, entertainment and easy access to the I-10 Freeway. A property of this type is a rarity in today's real estate market. The principal of the Seller LLC is a licensed California Real Estate Broker. Buyer will cooperate with the Seller by agreeing to conduct the purchase utilizing an IRS Section 1031 Tax Deferred Exchange transaction, at no expense to Buyer. Buyer is advised to conduct their own due diligence in determining the financial viability of their investment in the property. Seller will provide all available financial information to the Buyer upon the Buyer submitting evidence of financil credibility to complete the traqnsaction and execute an NDA.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$436 USD /SF

# OF UNITS

7

PRICE/UNIT

$257,143

CAP RATE

3.95%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1983

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,731 SF

ZONING

R1, Cathedral City

APN/PARCEL ID

677-173-055

ASK ABOUT THIS PROPERTY

Kurt PennGrossman Real EstateMore Info
909-608-7426

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Kurt PennGrossman Real EstateMore Info
909-608-7426

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.