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$890,000
Est. payment /mo
3,200 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Com-Res Income
Listing Status Active
Purchase Type For Sale
Square Footage 3,200 sqft
Price per Sqft $278
MLS Listing ID 260011149
Property Sub-Type Com-Res Income
Property Description
11.0% Cap Rate | 7 Units | Fully Remodeled 2023 | Seller Motivated — Priced to Sell Don't let this one sit on your screen. This 7-unit income property in Desert Hot Springs delivers an 11.0% cap rate at the asking price of $890,000 — and it's already performing. Gross annual rents at full occupancy exceed $122,000, with a net operating income of $98,244 based on current actuals. Unit mix: 4 studios, 1 one-bedroom/one-bath, 2 two-bedroom/one-bath units, plus 1 fully detached unit. Entire property was fully remodeled in 2024 — new everything. Low deferred maintenance, gated private lot on 0.34 acres, driveway parking. Wall furnace heat, wall/window A/C, tile flooring throughout. Priced $41,000 below the Zillow Zestimate of $931,100. At $127,143 per door, this is well below replacement cost for new construction. Cash or 1031 exchange only — ideal as a replacement property for sellers coming out of a larger asset. Seller is motivated and wants a clean, fast close. Bring your buyers. The numbers speak for themselves. Contact Joe Corbisiero | Compass | DRE #01886351 | (760) 201-9252
Location
State CA
County Riverside
Interior
Cooling Heat Pump
Fireplace No
Exterior
View Y/N No
Building
Story 2
Others
Senior Community No
Tax ID 639322016
Virtual Tour https://www.propertypanorama.com/instaview/snd/260011149
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Listed by Joe Corbisiero, DRE#01886351 Compass
NEARBY SCHOOL & BUSINESS
“If you're looking for a dedicated and knowledgeable real estate professional who will go above and beyond to help you achieve your goals, I'm here to serve you. Contact me today to learn more about how he can assist you with all your real estate needs.”
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