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73655 Shadow Mountain Drive, Palm Desert, CA 92260

$3,869,250

Property Type: Residential Income Bedrooms: 24 Square Footage: 18,996 Status: Closed

Current Price: $3,869,250 List Date: 5/17/2024 Last Modified: 11/20/2024

Overview

Description

Great Investment Opportunity in Palm Desert. Introducing a rare investment opportunity located in the heart of Palm Desert at the southwest corner of Shadow Mountain Drive and San Luis Rey. This offering includes two adjacent buildings at 73665 and 73675 Shadow Mountain Dr., both operated as a single business entity known as Yum Yum Tree Apartments. The property spans 43,560 square feet of land with a total building size of 18,996 square feet. Built in 1972 and 1974, the property comprises 18 units in total, featuring 12 one-bedroom units and 6 two-bedroom units. The exterior construction is a combination of frame and stucco with a shingle mansard roof facade. The beautifully landscaped grounds include a gated pool at the larger complex. The 73665 building offers carport, surface parking, and garage options, while the 73675 building features detached single car garages. This property is ideally situated in a prime residential community, just one block south of the bustling shopping dis ... (Read more)

Listing Details MLS# 219111667

General Property Information

Total Units: 18
Total Bedrooms: 24
Approx SqFt: 18996
SqFt Source: Appraiser
Fireplace: No
Building # of Stories: 2
Pool: Yes
Lot Size Source: Appraiser
Year Built: 1972
Cross Streets: San Luis Rey

Property Features

Sale Type: Standard Listing Terms: Cash; Cash to New Loan; Conventional Possession: Close Of Escrow Lot Description: 2 - 4 Lots; Landscaped; Street Public Lot Location: Near Public Transit View Type: Mountain(s); Peek-A-Boo; Pool Other Structural Features: Balcony; Premium Lot Irrigation: Sprinkler System Disclosures: Property As Is Community Features: Community Mailbox Levels: Two Entry Location: Ground Level - No Steps; Ground Level w/Steps Exterior Construction: Stucco; Wood Siding Foundation: Slab Flooring: Other Cooling Type: Zoned; Other Pool Location: Community Pool Accessories: Safety Gate Pool Construction: In Ground Pool Description: Community Spa Hot Tub Construction: In Ground Spa Hot Tub Description: Community Heating: Zoned; Other Rooms: Other Laundry: Community Security Safety: Community Roofing: Composition; Flat Sewer: In, Connected and Paid Parking: Assigned; Community Structure Road Surface Type: Paved Contingent Upon: Appraisal; Inspection; Loan Approval Land Lease Type: Fee Simple

Listing Location and Property Info

APN: 627311034
Original List Price: 4999900
Property Sub-Type: Apartment
Street #: 73655
Street Name: Shadow Mountain
Street Suffix: Drive
County: Riverside
State: CA
Zip Code: 92260
Area: 323 - Palm Desert South
Country: US

Listing Info

Number of Buildings: 2
Inclusions: 73665 & 73675 Shadow Mountain Dr are included in sale (APN: 627-311-034 & 327-311-013).
Water Heater: Yes
Laundry: Yes
Laundry Equipment: Hook-Ups

Tax Info

Tax Mello Roos: No
Annual Taxes: 40207

Property Info

Additional Parcel: Yes
Additional Parcel Numbers: 73665 & 73675 Shadow Mountain Dr are included in sale (APN: 627-311-034 & 327-311-013).
Senior Community: No
Gated Community: Yes
Type of Business: Apartments - Yum Yum Tree Apartments
View: Yes

More Information

Status Change Info

Status Change Date: 2024-08-04
Pending Date: 2024-07-30
Closed Date: 2024-08-01
Closed Price: 3869250

Counts

# Electric Meters: 18
# Gas Meter: 18
# Water Meters: 18

Parking SpacesInformation

Total Carport Spaces: Yes
Total Garage Spaces: Yes
Total Parking Spaces: 4

Unit Information

Number of Units Leased: 18

Listing, Location and Property Info

Entry Date: 2024-05-17
Land Type: Fee

Income & Expenses

Actual Total Rent $: 276000

Community Features

Community Mailbox: Yes

Sale Type

Standard: Yes

Road Surface Type

Paved: Yes

Listing Terms

Cash: Yes
Cash to New Loan: Yes
Conventional: Yes

Possession

Close Of Escrow: Yes

Parking Spaces/Information

RV: None
Total Covered Spaces: 1
Total Uncovered/Assigned Spaces: 1

Lot Description

2 - 4 Lots: Yes
Landscaped: Yes
Street Public: Yes

Lot Location

Near Public Transit: Yes

View Type

Mountain(s): Yes
Peek-A-Boo: Yes
Pool: Yes

Other Structural Features

Balcony: Yes
Premium Lot: Yes

Irrigation

Sprinkler System: Yes

Disclosures

Property As Is: Yes

Levels

Two: Yes

Entry Location

Ground Level - No Steps: Yes
Ground Level w/Steps: Yes

Exterior Construction

Stucco: Yes
Wood Siding: Yes

Foundation

Slab: Yes

Flooring

Other: Yes

Cooling Type

Zoned: Yes
Other: Yes

Pool Location

Community: Yes

Pool Accessories

Safety Gate: Yes

Pool Construction

In Ground: Yes

Pool Description

Community: Yes

Spa Hot Tub Construction

In Ground: Yes

Spa Hot Tub Description

Community: Yes

Heating

Zoned: Yes
Other: Yes

Rooms

Other: Yes

Laundry

Community: Yes

Security Safety

Community: Yes

Roofing

Composition: Yes
Flat: Yes

Sewer

In, Connected and Paid: Yes

Parking

Assigned: Yes
Community Structure: Yes

Contingent Upon

Appraisal: Yes
Inspection: Yes
Loan Approval: Yes

Land Lease Type

Fee Simple: Yes

Documents

2 YR PROFORMA ›

Listing Office: OZA Realty Inc.

Listing Agent: Jose Espinoza

Last Updated: November - 20 - 2024

Information deemed reliable but not guaranteed.

760.799.7770