3778 E Calle De Carlos, PALM SPRINGS, CA 92264
Demuth Park (click for neighborhood info)
Sold
$480,000
Sold On 2020-09-18
Overview
MLS #
SW20060249MR
Listed on
2020-03-19
Status
Sold
Price
$520,000
Type
Residential Income
Size of home
3,000 sq ft
Beds / Baths
/ 2.00
Size of lot
10,019 sq ft
Neighborhood
Demuth Park
Location address
3778 E Calle De Carlos
PALM SPRINGS 92264
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
Yes
Pool Description
None
Spa
No
Year Built
1975
Fireplace
No
Courtesy of:
Tony Burton /
Burton Commercial, Inc.
3778 E Calle De Carlos