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.