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    511 E Chuckwalla Road

    Palm Springs, CA 92262
    • $759,000
    • STATUS: Active
    • ON SITE: 59 days
    • MLS #: 219046361
    UPDATED: 53 min ago
    $759,000
    • 5
      BEDS
    • 0.24
      ACRES
    • 5
      BATHS
    • 1
      1/2 BATHS
    • 3,341
      SQFT
    • $227
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1960
    County:

    School Information

    Elementary School:
    Middle School:
    High School:

    Description

    PRICE REDUCTION! Motivated seller! 5 Units, Pool, 2 blocks from downtown. Just completed $50,000 capital improvements! Excellent investment opportunity (5.3% cap rate) near downtown Palm Springs with great appreciation potential. Major upgrades including solar panels, new paint, appliances, new energy efficient windows, replastered pool and deck with new equipment, new desert landscaping, and new exterior lighting. There are two (2) one-bedroom units and three (3) large studios suites with separate kitchens and bedroom areas. Two (2) units are completely refurbished including split system HVAC and new appliances. All units are currently rented on a month-to-month basis. There are spectacular mountain views from the patios and pool area. Entry to the complex is gated. Tenants pay cable. It is located in a very up-and-coming neighborhood in central Palm Springs and is close to downtown, public transportation and schools.See attachment for current income and expense statement

    Monthly Payment Calculator

    ©2020 California Desert Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Brad Schmett Real Estate Group. Based on information from the California Desert Association of Realtors as of 2020-09-18T17:35:38.033. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker of MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listing by the office/agent presenting the information.

    Licensed in the State of California, USA
    www.bradschmett.net/homes/108062348
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    511 E Chuckwalla Road Palm Springs, CA 92262

    • Price: $759,000
    • Status: Active
    • Updated: 53 min ago
    • MLS #: 219046361
    5
    Beds
    5
    Baths
    1
    ½ Baths
    0.24
    Acres
    3,341
    SQFT
    $227
    $/SQFT
    1960
    Built
    Neighborhood:
    Central Palm Springs
    County:
    Riverside
    Area:
    332 - Palm Springs Central
    Elementary School:
    Katherine Finchy
    Middle School:
    Raymond Cree
    High School:
    Palm Springs
    Property Description
    PRICE REDUCTION! Motivated seller! 5 Units, Pool, 2 blocks from downtown. Just completed $50,000 capital improvements! Excellent investment opportunity (5.3% cap rate) near downtown Palm Springs with great appreciation potential. Major upgrades including solar panels, new paint, appliances, new energy efficient windows, replastered pool and deck with new equipment, new desert landscaping, and new exterior lighting. There are two (2) one-bedroom units and three (3) large studios suites with separate kitchens and bedroom areas. Two (2) units are completely refurbished including split system HVAC and new appliances. All units are currently rented on a month-to-month basis. There are spectacular mountain views from the patios and pool area. Entry to the complex is gated. Tenants pay cable. It is located in a very up-and-coming neighborhood in central Palm Springs and is close to downtown, public transportation and schools.See attachment for current income and expense statement
    Exterior Features

    Building Style Traditional Casita Guesthouse None Entry Floor Number 1 Entry Location Ground Level - No Steps Exterior Construction FrameHard Coat Stucco Foundation Slab Gated Community No Levels GroundGround LevelNo Unit AboveOne Parking Direct EntranceOn StreetShared DrivewayUnassigned Patio Features Awning(S)Covered Paved Yes Property Orientation Faces Front Door Faces North Property Sub Type Apartment Roofing Composition Shingle Total Carport Spaces 0.00 Total Covered Spaces 0.00 Total Parking Spaces 6.00 Total Uncovered Assigned Spaces 6.00 View Yes View Type Mountain(S) Window Treatments AwningsVertical Blinds

    Interior Features

    Cooling Type Air ConditioningCentral AirEvaporative CoolingWall/Window Unit(S) Fireplace No Flooring CarpetTile Heating CentralForced Air Heating Fuel Natural Gas Rooms Dining AreaDining RoomEntryFamily RoomLiving Room

    Property Features

    Ada Compliant No Disclosures Owner Has Real Estate LicenseRent Control Elevator No Green Features No Gross Annual Income Amount 65280.00 Gross Income Amount 65280.00 Gross Operating Income Amount 65280.00 Gross Schedule Income Amount 65280.00 Land Type Fee Simple Laundry No Laundry Location Individual RoomLaundry Area Listing Terms 1031 ExchangeCashCash To New LoanConventionalSubmit Lot Description LandscapedLevelPrivateSingle LotStorm DrainsStreet LightingStreet PavedStreet PublicUtilities - OverheadUtilities UndergroundYard Lot Location Near Public Transit Monthly Gross Income Amount 5440.00 Neighborhood El Mirador Net Operating Income Amount 41494.24 Number Of Units Leased 5 Other Schools Creative Beginnings Owner Pays ElectricityGardenerGasPool ServiceTrash CollectionWater Pool Yes Pool Accessories Pool SweepSafety FenceSafety Gate Pool Construction In GroundTile Pool Description CommunityFencedIn GroundTile Pool Location Community Private Transfer Tax No Property Attached Detached Attached Property Condition Additions/AlterationsRepairs MajorUpdated/Remodeled Rent Control Yes Sale Type Standard Security Safety None Senior Community No Sewer In Street PaidInConnected And Paid Spa Hot Tub No Tax Mello Roos No Tenant Pays Cable Tv Total Taxes Amount 4200.29 Water In Street Water Heater Yes Water Heater Feature Water Heater Unit Zoning R-4

    Listing information © 2020 California Desert Association of Realtors.
    Listing provided courtesy of Leonard S Bustos of Leonard S. Bustos & Associates Real Estate.
    ©2020 California Desert Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Brad Schmett Real Estate Group. Based on information from the California Desert Association of Realtors as of 2020-09-18T17:35:38.033. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker of MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listing by the office/agent presenting the information.

    Licensed in the State of California, USA
     
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    760-880-5845
    La Quinta and Palm Springs CA,