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Investor's dream in the heart of Palm Desert! This fully permitted five-unit income property sits on a spacious 0.41-acre lot and offers projected gross rental income of $10,350 per month ($124,200 annually) at full stabilization. Three units are currently leased and generating income, while the property's two highest-value units are vacant and ready for immediate lease-up at market rates.The primary residence is a spacious 2,700 sq. ft. 3-bedroom, 2-bath home featuring an attached two-car garage, private lap pool, in-ground spa, and built-in BBQ, with projected rental income of $3,750 per month. The standout feature is the detached 2-bedroom, 1.5-bath guest house, complete with its own owned solar system that saves approximately $400-$500 per month in electricity costs, with projected rental income of $3,000 per month.Completing the investment are two detached permitted ADUs projected to rent for $1,500 and $1,100 per month, each with its own electric meter, plus an attached permitted casita currently leased at $1,000 per month, with utilities included. Four of the five units have independent electric meters, helping reduce owner expenses. Best of all, there's no HOA.Ideally situated in the heart of Palm Desert, this property is just steps from the world-class dining, shopping, and entertainment along Highway 111 and the iconic El Paseo -- the ''Rodeo Drive of the Desert.'' Tenants enjoy walkable access to upscale boutiques, galleries, cafes, and restaurants, making this one of the most desirable rental locations in the Coachella Valley. Strong tenant demand and low vacancy are a natural result of a location this central.Whether you're completing a 1031 exchange, expanding your Coachella Valley investment portfolio, or looking for a multi-generational property with substantial income potential, 74431 De Anza Way offers a rare combination of immediate cash flow, future upside, and long-term flexibility.
Property Type(s):
Residential Income
| Last Updated | 7/24/2026 | Tract | Not Applicable-1 |
|---|---|---|---|
| Year Built | 1973 | Community | 322 - North Palm Desert |
| Garage Spaces | 2.0 | County | Riverside |
Additional Details
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | 322 - North Palm Desert |
| GARAGE | Yes |
| HEAT | Forced Air |
| LOT | 0.37 acre(s) |
| LOT DIMENSIONS | 16117 |
| PARKING | Driveway, On Street |
| POOL | Yes |
| POOL DESCRIPTION | Private, In Ground |
| STORIES | 1 |
| SUBDIVISION | Not Applicable-1 |
| VIEW | Yes |
| VIEW DESCRIPTION | Mountain(s) |
Location
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Listed with eXp Realty of California, Inc.
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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