74443 Driftwood Drive Pending

Palm Desert,CA 92260

$ 1030000

- Bed

- Bath

3188 SqFt


Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Pending

Purchase Type For Sale

Square Footage 3,188 sqft

Price per Sqft $323

MLS Listing ID CRSW25054919

Year Built 1974

Lot Size 9,148 Sqft

Property Sub-Type Quadruplex

Property Description

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 SUPPLEMENTS 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 SUPPLEMENTS 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 SUPPLEMENTS ATTACHED FOR DETAILS ON THESE RETURN

Location

State CA

County Riverside

Interior

Heating None

Laundry Common Area,Laundry Room

Building

Water Public

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