39950 BIRD Lane, Rancho Mirage, CA 92270 (MLS# 18380900)

39950 BIRD Lane, Rancho Mirage, CA 92270

$2,025,000
Property Type: Residential Income Square Footage: 13,250 Lot Size (sq. ft.): 566,280,000 Status: Closed
Current Price: $2,025,000 List Date: 9/15/2018 Last Modified: 10/09/2024

Overview

Description

Excellent investment opportunity to acquire a beautifully remodeled, fully rented 11 unit classic mid-century complex in a prime Rancho Mirage location. A solid quality offering, fully rented with 12 months leases to quality tenants. There is a tremendous upside potential available here. Included in this sale is also the next door vacant parcel of 12197 SqFt with APN # : 689-202-031. According to the Rancho Mirage Planning Department this vacant parcel can be utilized to construct additional carports and /or duplex. The complex consists of a 2 story building with a very attractive courtyard pool spa recreational area. There is a good mix of 1 BR , 2 Br and 3 Br units. All very spacious with considerably more square footage than market average. Extraordinary views of the mountains and the surrounding desert in every direction! Access only with accepted offer. Please do not disturb the tenants.

Listing Details MLS# 18380900

General Property Information

Total Units
11
Approx SqFt
13250
SqFt Source
Appraiser
Building # of Stories
2
Pool
No
Lot Acres
13000
Lot Size Source
Assessor
Year Built
1963

Property Features

Sale Type: Standard Appliances: Refrigerator Cooling Type: Central Air Heating: Central Land Lease Type: Fee Simple

Listing Location and Property Info

APN
689202030
Original List Price
2050000
Street #
39950
Street Name
BIRD
Street Suffix
Lane
County
Riverside
State
CA
Zip Code
92270
Area
321 - Rancho Mirage

Listing Info

Number of Buildings
Yes

Status Change Info

Status Change Date
2018-12-27
Pending Date
2018-10-01
Closed Date
2018-12-27
Closed Price
2025000

Parking SpacesInformation

Total Parking Spaces
8

More Information

Listing, Location and Property Info

Entry Date
2018-09-14
Land Type
Fee
Builders Tract Code
1007274

Income & Expenses

Gross Income $
158484
Gross Operating Income $
154529
Net Operating Income $
97362
Total Annual Operating Expenses $
154529
Assessed Improvement $
1030000
Cap Rate %
4.75
Vacancy Allowance % or $
3

Sale Type

Standard
Yes

Parking Spaces/Information

Total Covered Spaces
8

Appliances

Refrigerator
Yes

Cooling Type

Central Air
Yes

Heating

Central
Yes

Land Lease Type

Fee Simple
Yes
Listing Office: Coldwell Banker Realty
Listing Agent: Panayot B Tomov
Last Updated: October - 09 - 2024
Information deemed reliable but not guaranteed.
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