74443 Driftwood Dr - Multi-Family FOR SALE


Palm Desert, CA 92260- Outlying Palm Springs
$1,030,000 USD
951-375-7433
74443 Driftwood Dr, Palm Desert, CA for Sale
$1,030,000 USD
Multi-Family - FOR SALE
1/35
null | 9.84% Cap Rate

74443 Driftwood Dr
Palm Desert, CA 92260
Outlying Palm Springs


HIGHLIGHTS

  • THIS BEAUTIFUL 4PLEX IS LOCATED IN THE FINEST AREA OF PALM DESERT, THE EL PASEO DISTRICT
  • WALKING DISTANCE TO THE WORLD FAMOUS EL PASEO SHOPPING DISTRICT
  • WALKING DISTANCE TO GROCERY AND THE WESTFIELD MALL
  • GREAT RETURNS AT MARKET RENTS. $110,400 ANNUAL GROSS INCOME, A 9.33 GRM, 9.84% CAP RATE, AND A ROBUST 21.95% CASH ON CASH!!
  • UPGRADED KITCHENS & RESTROOMS AND TILE FLOORS THROUGOUT
  • SELLER WILL CARRY!! CALL FOR DETAILS!!!

OVERVIEW

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 MARKETING 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 MARKETING PACKAGE 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 MARKETING PACKAGE ATTACHED FOR DETAILS ON THESE RETURNS!! OWNER MAY CARRY!! ASK FOR DETAILS!!!

FOR SALE DETAILS

PRICE

$1,030,000 USD

PRICE/SF

$323 USD /SF

# OF UNITS

4

PRICE/UNIT

$257,500

CAP RATE

9.84%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

PALM DESERT 4PLEX, 9.84% CAP!! SELLER CARRY!

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1974

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,148 SF

ZONING

R303M

APN/PARCEL ID

625-143-014

ASK ABOUT THIS PROPERTY

Tony BurtonBurton RealtyMore Info
951-375-7433

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Tony BurtonBurton RealtyMore Info
951-375-7433

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