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73515 Catalina Way

Palm Desert, CA 92260
  • $774,900
  • STATUS: Active
  • ON SITE: 41 Days
  • MLS #: PW22228307
UPDATED: 21 min ago
$774,900
  • 0
    BEDS
  • 0.18
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1960
County:

School Ratings & Info

Listing Agent(s): Timothy Austin of Broker Groves, Inc (619-519-4453)


Description

Great Investor Opportunity: CAP RATE 5+ The Annual Income is $61,500 Total monthly rent income $5,125.00 GRM 12.8 / Low Operating Expenses Profitable NOI.Duplex in downtown Palm Desert Great location in the middle of the San Pablo Redevelopment District. Units are eligible for long-term vacation rental (28 days or more). Newly remodeled September 2022, 100% occupied with new 12-month leases as of October 2022. Each unit has 2 Bedrooms and 1 Bathroom, special features: 1 car garage, shaded private backyards, in-unit laundry, stainless steel appliances, Central air, and Pets Welcomed*. Directly across from the Community Garden, 2 blocks to a brand-new full-size park with recreationalequipment, picnic tables, open space, restrooms, and more. Less than 2 miles to the shops in El Paso, McCallum Theater, City Civic Center, Collegeof the Desert, Eisenhower Medical Center, the Living Desert Zoo, and The Palm Desert Mall. Nearby parks are available for sports from soccer to skateboarding. World-Famous Golf, Tennis, and Pickleball tournaments. Local community facilities include The Palm Desert Aquatic Center, Senior Center, Amphitheater, City Hall, Holocaust, Memorial, Family YMCA, Palm Desert Community Center, and gymnasium. Centrally located just a short drive to Palm Springs, Joshua tree, Big Bear, and Lake Arrowhead. * Pets are subject to management approval; additional fees will apply.**Property is unfurnished with exception of previously mentioned appliancesBuyer to perform due diligence with palm desert ( https://www.cityofpalmdesert.org/)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-12-05T18:30:40.35. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Brad Schmett Real Estate Group. Licensed in the State of California, USA.
www.bradschmett.net/homes/134229889
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73515 Catalina Way Palm Desert, CA 92260

  • Price: $774,900
  • Status: Active
  • On Site: 41 Days
  • Updated: 21 min ago
  • MLS #: PW22228307
0
Beds
0
Baths
0
½ Baths
0.18
Acres
1960
Built
Neighborhood:
323 - South Palm Desert
County:
Riverside
Area:
323 - South Palm Desert
Property Description
Great Investor Opportunity: CAP RATE 5+ The Annual Income is $61,500 Total monthly rent income $5,125.00 GRM 12.8 / Low Operating Expenses Profitable NOI.Duplex in downtown Palm Desert Great location in the middle of the San Pablo Redevelopment District. Units are eligible for long-term vacation rental (28 days or more). Newly remodeled September 2022, 100% occupied with new 12-month leases as of October 2022. Each unit has 2 Bedrooms and 1 Bathroom, special features: 1 car garage, shaded private backyards, in-unit laundry, stainless steel appliances, Central air, and Pets Welcomed*. Directly across from the Community Garden, 2 blocks to a brand-new full-size park with recreationalequipment, picnic tables, open space, restrooms, and more. Less than 2 miles to the shops in El Paso, McCallum Theater, City Civic Center, Collegeof the Desert, Eisenhower Medical Center, the Living Desert Zoo, and The Palm Desert Mall. Nearby parks are available for sports from soccer to skateboarding. World-Famous Golf, Tennis, and Pickleball tournaments. Local community facilities include The Palm Desert Aquatic Center, Senior Center, Amphitheater, City Hall, Holocaust, Memorial, Family YMCA, Palm Desert Community Center, and gymnasium. Centrally located just a short drive to Palm Springs, Joshua tree, Big Bear, and Lake Arrowhead. * Pets are subject to management approval; additional fees will apply.**Property is unfurnished with exception of previously mentioned appliancesBuyer to perform due diligence with palm desert ( https://www.cityofpalmdesert.org/)
Exterior Features

Architectural Style Traditional Construction Materials DrywallGlassStucco Exterior Features LightingRain Gutters Fencing Block Lot Features 2-5 Units/AcreBack YardCorner LotDesert FrontFront YardSprinklers In FrontLandscapedNear ParkNear Public TransitSprinklers Timer Number Of Separate Electric Meters 2 Open Parking Spaces 2 Parking Features DrivewayGarage Parking Total 4 Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Road Surface Type Paved Spa Features None Spa YN No View City LightsMountain(S)NeighborhoodTrees/Woods View YN Yes

Interior Features

Accessibility Features Safe Emergency Egress From HomeNo StairsParking Appliances DishwasherGas OvenGas RangeGas Water HeaterMicrowaveRefrigeratorSelf Cleaning OvenWarming DrawerDryerWasher Common Walls 1 Common Wall Cooling Central Air Cooling YN Yes Door Features Insulated DoorsSliding Doors Fireplace Features None Fireplace YN No Flooring Laminate Heating Central Heating YN Yes Interior Features Ceiling Fan(S)PantryStone CountersRecessed LightingUnfurnishedAll Bedrooms DownBedroom On Main LevelMain Level Master Window Features Drapes

Property Features

Additional Parcels YN No Cap Rate 7.2 Common Interest None Community Features BikingCurbsDog ParkGolfHikingStreet LightsSidewalksPark Disclosures Rent Control Garage YN Yes Gross Income 61500 Gross Scheduled Income 61200 Inclusions Stainless Steel StoveMicrowave HoodDishwasherRefrigeratorWasher And Gas Dryer Insurance Expense 1591 Land Lease YN No Laundry Features Inside Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New LoanConventionalCal Vet Loan1031 ExchangeFha 203(B)Fha 203(K)FhaFannie MaeFreddie MacGovernment LoanUsda LoanVa LoanVa No LoanVa No No Loan Net Operating Income 58198.52 New Construction YN No Number Of Separate Gas Meters 2 Number Of Separate Water Meters 1 Operating Expense 3301.48 Property Condition Updated/Remodeled Property Sub Type Duplex Rent Control YN Yes Security Features Carbon Monoxide Detector(S)Fire Detection SystemSmoke Detector(S) Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 159.6 Utilities Electricity ConnectedSewer ConnectedWater Connected Water Sewer Expense 590.88 Water Source Public Zoning R2



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-12-05T18:30:40.35. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Brad Schmett Real Estate Group. Licensed in the State of California, USA.
 
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Brad Schmett Real Estate Group
760-880-5845
La Quinta and Palm Springs CA,
Listing Agent(s): Timothy Austin of Broker Groves, Inc (619-519-4453)