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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
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