4 Beds
4 Baths
2,640 SqFt
4 Beds
4 Baths
2,640 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,640 sqft
Price per Sqft $223
Subdivision Desert View Estates
MLS Listing ID 219148018
Bedrooms 4
Full Baths 4
HOA Y/N No
Year Built 1965
Lot Size 10,890 Sqft
Property Description
The property features three studio units and one 1-bedroom/1-bathroom unit, all updated in a full 2023 renovation including kitchens, bathrooms, windows, etc. Tenants enjoy an attached on-site laundry room, a premium amenity that keeps vacancy low and tenants happy. Pest control service is already in place.
**Why this property stands out:**
Strong fundamentals with a 9.08% cap rate and GRM of 8.59 - well below the Coachella Valley market average of 10-12x. The debt coverage ratio sits at a healthy 1.60, making this an easy financing story for buyers. Unit #4 is currently $150 below market rent, representing approximately $1,800/year in untapped NOI at the next lease renewal -- with no work required.
Desert Hot Springs continues to benefit from population growth, proximity to Palm Springs, and rising demand for affordable rentals in the Inland Empire. This is a rare turnkey opportunity in a market with strong long-term tailwinds. OR live in one and rent the others - great options.
Location
State CA
County Riverside
Area 340 - Desert Hot Springs
Interior
Heating Electric, Other
Cooling Wall/Window Unit(s)
Fireplace false
Exterior
Fence Wood
View Y/N false
Private Pool No
Building
Lot Description Level
Story 1
Entry Level Ground
Sewer In, Connected and Paid
Level or Stories Ground
Others
Senior Community No
Acceptable Financing 1031 Exchange, Cash, Conventional, FHA, VA Loan
Listing Terms 1031 Exchange, Cash, Conventional, FHA, VA Loan
Special Listing Condition Standard
Nearby Locations
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