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$1,788,000

Est. payment - /mo

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12 Beds

6 Baths

4,900 SqFt

New

68080 Risueno RD Cathedral City, CA 92234

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The Brandon Drew Group

financing@tbdgmortgage.com +1(909) 944-8800

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Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,900 sqft

Price per Sqft $364

Subdivision Panorama

MLS Listing ID 25529355

Bedrooms 12

HOA Y/N No

Year Built 1961

Lot Size 7,840 Sqft

Property Description

Introducing four turn-key, Free-standing Homes on two combined lots with Shovel-Ready RTI Plans for additional development. Currently, 2 out of the 4 units are delivered vacant, with a long rental history and low vacancy. Each turn-key property consists of 2 Bedrooms and 1 Bath, and has their own private backyard space, parking, and shares a sparkling communal pool. A true Oasis Compound. While the homes are ready to generate income NOW at close to 6% CAP, the fully entitled and approved plans allow the next owner to build an additional 2 (2 BD/1 BTH) homes/ADU's, for 6 total, creating an additional stream of income and a potential $15K in gross return at just today's market rates. This is a rare chance to create immediate cash flow with new tenants, live in one home and rent out others, and/or value-add with additional development and increased income. Get in before the $2.2B Palm Springs Airport Expansion. The ultimate canvas for Real Estate Investors in a growing region...

Location

State CA

County Riverside

Area 335 - Cathedral City North

Zoning R1

Interior

Interior Features Ceiling Fan(s)

Heating Central

Cooling Central Air

Fireplace No

Appliance Dishwasher, Disposal, Refrigerator

Exterior

Parking Features Door-Multi, Garage, Guest

Garage Spaces 4.0

Garage Description 4.0

Total Parking Spaces 8

Building

Story 1

Entry Level One

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 675253030

Special Listing Condition Standard

Listed by Spencer Daley • Douglas Elliman

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