$ 589,000
-
$589,000
Price -
4
Bed -
4
Bath -
2,640
SqFt
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About the Listing DML-d24008 - DML-d84981
4-UNITS: fully remodeled, income producing property. 100% occupied with long-term tenants and generating strong verified rental income. This stabilized, low-maintenance asset is an ideal addition to any investment portfolio. The property features three studio units and one 1-bedroom/1-bathroom unit, all updated in a full 2023 renovation including kitchens, bathrooms, windows, etc. Tenants enjoy an attached on-site laundry room, a premium amenity that keeps vacancy low and tenants happy. Pest control service is already in place.**Why this property stands out:**Strong fundamentals with a 9.08% cap rate and GRM of 8.59 - well below the Coachella Valley market average of 10-12x. The debt coverage ratio sits at a healthy 1.60, making this an easy financing story for buyers. Unit #4 is currently $150 below market rent, representing approximately $1,800/year in untapped NOI at the next lease renewal -- with no work required.Desert Hot Springs continues to benefit from population growth, proximity to Palm Springs, and rising demand for affordable rentals in the Inland Empire. This is a rare turnkey opportunity in a market with strong long-term tailwinds. OR live in one and rent the others - great options.
Listing Highlights
Status
Active
Days on Site
35
Property Type
Multi-Family
MLS ®
219148018DA
Year Built
1965
Total Square Footage
2,640
Lot/Acreage
N/A
County
Riverside
Interior Details
- Bedrooms: 4
- Bathrooms: 4 Full
- Appliances:
- Air Cond: Wall/Window
- Heating: Electric
- Fireplaces:
- Floor: Laminate
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Shower and Tub,All Bedrooms Down,Granite Counters
- Water:
Exterior Details
- Lot Description: Lot-Level/Flat,Yard
- Garage Capacity: N/A
- Parking Spaces: 8
- Roof:
- Others: Repairs Major
- Sewer: In Connected and Paid
- Parking Features: Driveway
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Questions About..
10485 Santa Cruz Rd Desert Hot Springs, CA 92240
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