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Listing provided courtesy of Prestige Realty Group, Inc. - MLS#AR23096755MLS Provider

45900 Highway 74Palm Desert, CA 92260

Multi-Family · 7,750 Sq. ft. | 0.29 Acres

$2,790,000 Active

Overview

Time on Site:
179 days
Visits:
0

Excellent opportunity to acquire well maintained investment properties in prime location. 4 single-family detached home built in 2007 with individual parcel number within 6 unit Serenity of Palm Desert community in Palm Desert, California. The subject property is strategically located within walking distance to famous El Paseo Drive shopping district. This investment is comprised of three 3 bedroom, 3 bath units, and one 3 bedroom, 2.5 bath unit. # 45900 Hwy 74, 2000 SF building size on approximately 3484 SF lot; # 45908 Hwy 74, 1750 SF building size on approximately 2613 SF lot; # 45916 Hwy 74, 2000 SF building on approximately 3484 SF lot and #45924 Hwy 74, 2000 SF building size on approximately 3,049 SF lot size. All units are two stories. Each unit features a fully landscaped courtyards complete with built in spa and two car attached garage. Built in 2007, the property boasts 100% occupancy. New owner can hold the properties as an investment portfolio or sell the unit individually as each unit has its own APN. This offering provides investor an opportunity to buy well maintained, professionally managed and highly desirable Single Family Rental properties with upside potential in prime South Palm Desert Submarket.

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Facts & Features

  • Type Multi-Family
  • Sq. ft. 7,750
  • Price/Sq.ft. $360
  • Lot 0.29 Acres

General

Association/HOA
  • Association: Yes
  • Common Interest: Planned Development
Income/Expenses
  • Gross Income: 112563.0
  • Gross Scheduled Income: 112563.0
  • Insurance Expense: 4027.0
  • Net Operating Income: 61914.0
  • Operating Expense: 50649.0
Listing Information
  • Contingency: Subject to Seller finding replacement property. 1031 Tax Deferred Exchange.
Building Information
  • New Construction: No
  • Year Built: 2007
Location/Region
  • Country: US
  • County Or Parish: Riverside
  • MLS Area Major: 323 - South Palm Desert
  • Subdivision Name: Serenity (32335)
Community/Development
  • Community Features: Street Lights,Sidewalks
Rent/Lease Information
  • Land Lease: No
General Information
  • Parcel Number: 628081038
  • Property Sub Type: Single Family Residence
  • Property Type: Residential Income
  • Rent Control: No
  • Senior Community: No
  • Special Listing Conditions: Standard

Interior

Parking Information
  • Garage Spaces: 8.0
  • Garage: Yes
Building Interior
  • Building Area Total: 7750.0
  • Building Area Units: Square Feet
General Information
  • Common Walls: No Common Walls
  • Entry Level: 1
  • Entry Location: Ground Level
  • Fireplace Features: Living Room
  • Fireplace: Yes
  • Laundry Features: See Remarks
  • Levels: Two
  • Stories: 2
  • Stories Total: 2

Exterior

Parking Information
  • Parking Total: 8.0
Lot Information
  • Additional Parcels Description: 628081035, 628081036, 628081037
  • Additional Parcels: Yes
  • Lot Features: Rectangular Lot,Walkstreet
  • Lot Size Acres: 0.2861
  • Lot Size Area: 12463.0
  • Lot Size Source: Assessor
  • Lot Size Square Feet: 12463.0
  • Lot Size Units: Square Feet
  • Number Of Buildings: 4
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 4
  • Elevation Units: Feet
  • Water Source: Public
Building Exterior/Construction
  • Property Attached: No
General Information
  • Number Of Units Total: 4
  • Pool Features: None
  • Pool Private: No
  • Sewer: Public Sewer
  • Utilities: Sewer Connected,Water Connected

Neighborhood

Palm Desert

Palm Desert is located in the heart of the Coachella Valley and offers an incredible arts scene, exceptional outdoor recreation facilities, lush golf courses, and the best shopping in the Coachella Valley.

Community

92260 (Palm Desert) Demographics
53
Median Age
1,211
Population Density (per sq. mile)
46%
College Educated
$61,161
Estimated Median Income
9,677
Estimated Total Home Owners
5,891
Estimated Total Renters
62% / 38%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

Elementary Schools
3
Public
Abraham Lincoln Elementary
  • Grades: KG - 5
  • Enrollment: 609
4
Public
George Washington Charter
  • Grades: KG - 5
  • Enrollment: 801
4
Public
James Earl Carter Elementary
  • Grades: KG - 5
  • Enrollment: 585
Middle Schools
4
Public
Palm Desert Charter Middle
  • Grades: 6 - 8 /
  • Enrollment: 1,406
High Schools
4
Public
Palm Desert High
  • Grades: 9 - 12 /
  • Enrollment: 2,090
School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

Monthly Cost

$
$ %
%
$
$
* Assumes 7.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.

Market Data

Based on the last 30 days in this zip code

$1,279,408
Median Sales Price
$554
Median Price per Square Foot
96
Properties Sold
156
New on Market
59
Average Days on Market
438
Properties for Sale
Calculations provided by Reliance Network