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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 RETURNS!!And we are priced at a very great buy!! Please see the latest sale comps attached. These sale comps are nearby 4Plexes, in Palm Desert, similar quality/age with similar beds/baths that sold at the following prices:42662 Clifford Street sold for $1,335,000!!!42612 634 Clifford Street sold for $1,365,000!!!FOR DETAILS ON THESE COMPARABLE SALES, PLEASE SEE SUPPLEMENTS ATTACHED.Seller to pick services. Buyer/Buyer's agent to provide and pay for (email, DocuSign, etc) all TC services, including all documents/paperwork, they require for Buyer and Seller to sign.
Property Type(s):
Residential Income
| Last Updated | 3/12/2025 | Tract | El Paseo Village (32310) |
|---|---|---|---|
| Year Built | 1974 | Community | South Palm Desert |
| County | Riverside |
Additional Details
| AREA | South Palm Desert |
|---|---|
| HEAT | None |
| HOA DUES | 0 |
| LOT | 9148 sq ft |
| LOT DESCRIPTION | 2-5 Units/Acre |
| POOL | Yes |
| POOL DESCRIPTION | Private |
| SEWER | Public Sewer |
| STORIES | 1 |
| SUBDIVISION | El Paseo Village (32310) |
| WATER | Public |
| ZONING | R303M |
Location
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Listed with Burton Commercial, 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.
This IDX solution is (c) Diverse Solutions 2025.
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