45900 Hwy 74, Palm Desert, CA 92260 (MLS# 21416754)

45900 Hwy 74, Palm Desert, CA 92260

$1,505,000
Property Type: Residential Income Bedrooms: 18 Baths: 13 Square Footage: 11,500 Lot Size (sq. ft.): 17,860 Status: Closed
Current Price: $1,505,000 List Date: 12/21/2010 Last Modified: 11/05/2024

Overview

Description

This beautiful one of a kind investment opportunity in a class A location of Palm Desert. Constructed in 2007,the property boasts 100% occupancy. The subject property is strategically located within walking distance to famous El Paseo Drive shopping district. Serenity of Palm Desert is comprised of 6 units with a mix of four, 3 bedroom, 3 bath units and two, 3 bedroom, 2.5 bath units. Each unit features a fully landscaped courtyard complete with built in spa. Kitchens include slab granite and are equipped with Wolf and Subzero appliances. All units are two stories with attached garages. Investors may continue to run the property as a for lease product or sell each unit separately as each unit is located on its own parcel.

Listing Details MLS# 21416754

General Property Information

Total Units
6
Total Bedrooms
18
Full Baths
12
3/4 Baths
Yes
Total Baths
13
Approx SqFt
11500
SqFt Source
Builder
Price Per Unit
331666
Fireplace
No
Pool
Yes
Paved
Yes
Lot Acres
0.41
Year Built
2007

Property Features

Tenant Pays: Cable TV; Electricity; Gas; Trash Collection; Water Listing Terms: Cash to New Loan View Type: Mountain(s) Levels: Two Cooling Type: Air Conditioning; Central Air Heating: Forced Air Heating Fuel: Natural Gas Roofing: Concrete; Tile Sewer: In, Connected and Paid Water: Water District Water Heater Feature: Water Heater Unit Land Lease Type: Fee Simple

Listing Location and Property Info

APN
628081038
Original List Price
2350000
Street #
45900
Street Name
Hwy 74
County
Riverside
State
CA
Zip Code
92260
Area
323 - Palm Desert South

Listing Info

Number of Buildings
6
Elevator
No

Status Change Info

Status Change Date
2011-06-15
Pending Date
2011-06-07
Closed Date
2011-06-15
Closed Price
1505000

Counts

# of Patios
6

More Information

Listing, Location and Property Info

Entry Date
2010-12-21
Land Type
Fee
Builders Tract Code
Serenity

Property Info

View
Yes

Income & Expenses

Gross Annual Income $
125400
Gross Operating Income $
125400
Gross Schedule Income $
125400
Net Operating Income $
82217
Electricity $
828
Gardener $
1800
Insurance $
1185
Operating Expenses $
43183
Pool Expense $
2400
Total Annual Operating Expenses $
43183
Water Expense $
248
Cap Rate %
4

Tenant Pays

Cable TV
Yes
Electricity
Yes
Gas
Yes
Trash Collection
Yes
Water
Yes

Listing Terms

Cash to New Loan
Yes

View Type

Mountain(s)
Yes

Levels

Two
Yes

Cooling Type

Air Conditioning
Yes
Central Air
Yes

Heating

Forced Air
Yes

Heating Fuel

Natural Gas
Yes

Roofing

Concrete
Yes
Tile
Yes

Sewer

In, Connected and Paid
Yes

Water

Water District
Yes

Water Heater Feature

Water Heater Unit
Yes

Land Lease Type

Fee Simple
Yes
Listing Office: Coldwell Banker Commercial, NRT
Listing Agent: Terry Forward
Last Updated: November - 05 - 2024
Information deemed reliable but not guaranteed.
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