73575 Shadow Mountain Dr - Apartments FOR SALE


Palm Desert, CA 92260- South Palm Desert
$1,399,000 USD
714-814-2088
73575 Shadow Mountain Dr, Palm Desert, CA for Sale
$1,399,000 USD
Apartments - FOR SALE
1/45
null | 6% Cap Rate

73575 Shadow Mountain Dr
Palm Desert, CA 92260
South Palm Desert


HIGHLIGHTS

  • Private Washer/Dryer Hookups in each unit — highly attractive to tenants
  • Expansive Private Patios — adds lifestyle appeal and rental value
  • Secure Gated Property — additional tenant privacy and peace of mind
  • Two Single-Car Garages + off-street parking — rare find in multifamily properties
  • Potential for Value-Add Upside through cosmetic upgrades or short-term rental conversion (check local regulations)
  • Significant appreciation potential in one of the fastest-growing cities in the Coachella Valley

OVERVIEW

Property is priced at $308.69 per square foot, which is significantly lower than the market average of $363.87 per square foot. The Shadow Mountain Fourplex lot totals at 0.31 acres and consisting of 1 buildings at 4,532 Sqft. The property is located at 73575 Shadow Mountain Dr., Palm Desert, CA, and is conveniently located a short distance from the Palms to Pines Shopping Center, the Shops at Palm Desert (Shopping Mall),and numerous popular hotels, restaurants, golf courses & many major regional employers. This four (4) unit apartment community is composed of four (4) large Two bedroom / Two bathroom units. The current ownership’s emphasis has been on quality updates which include capital improvements for various units such as HVAC replacement, rehab expenses, landscaping replacement, new kitchen appliances, pool maintenance, and numerous other quality updates. Scheduled maintenance, quality updates and improvements have always been a priority for the owner and make this property, a true turnkey asset for prospective buyers, who are looking for peace of mind, knowing they invested in a quality property, that will require minimal maintenance, for decades to come. As a result, the property demonstrates a minimal turn over and vacancy, in comparison to similar properties. The updated living conditions and the safe environment are both attractive features, to working class families, who constitute the tenant base. The rents are stable, with room for increases. The tenants will be willing to pay a premium to live in this safe and agreeable atmosphere.

FOR SALE DETAILS

PRICE

$1,399,000 USD

PRICE/SF

$389 USD /SF

# OF UNITS

4

PRICE/UNIT

$349,750

CAP RATE

6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1990

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.31 AC

LAND SF

13,499 SF

ZONING

R3, Palm Desert

APN/PARCEL ID

627-311-008

ASK ABOUT THIS PROPERTY

Albert LeLe Investment GroupMore Info
714-814-2088

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Albert LeLe Investment GroupMore Info
714-814-2088

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.