Sold
$480,000
Sold On 09/18/2020

    Request Info


    Overview

    MLS # SW20060249MR
    Listed on 03/19/2020
    Status Sold
    Price $520,000
    Type Multiplex
    Subtype Fourplex
    Size of home 3,000 Sq ft
    Beds / Baths /
    Size of lot 10,019 sq ft
    Neighborhood Demuth Park
    Location address 3778 E Calle De Carlos
    PALM SPRINGS 92264

    Description


    This offering is a pretty 4Plex, in a quiet well kept neighborhood, near downtown, and within walking distance of the Super Walmart. This complex consists of two 1 bedroom 1 baths, and two studios. The studios are very large and could be converted to 1 bedroom 1 bath units. All units have laundry hook ups, tile flooring throughout, and upgraded kitchens. This complex has a very large 10,000 square foot parcel, which leaves plenty of land area around the units. All units have very large private fenced front and back yards. Actual rents are low, but all month to month. Each unit is rented at approximately $200 per month under market. Please see RENT ROLL, and, RENT COMPS, attached. This 4Plex has exceptional returns, and you get a lot of income for the price. These returns are by far, the best returns Palm Springs has seen in years. At actual rents, we put out $42,360 Annual Gross Income, $34,333 Net Operating Income, a 12.28 Gross Rent Multiplier, a 6.60% Cap Rate, and a 10.10% cash on cash return. There's been nothing close to returns this good in many years. Please see "ACTUAL INCOME + EXPENSES/RETURNS" attached. AND, when you raise actual rents to market rents (see RENT COMPS attached), we put out $52,440 An

    General Information

    Original List Price $540,000
    Price Per Sq/Ft $160
    Furnished No
    Land Type Fee
    Land Lease Expires N/A
    Community Features Biking
    Pool No
    Spa No
    Year Built 1975
    Fireplace No

    Courtesy of: Tony Burton / Burton Commercial, Inc.

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