18
See all 18 photos
$1,885,000
Est. payment /mo
4,900 SqFt
Active
68080 Risueno Road Cathedral City, CA 92234
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Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,900 sqft
Price per Sqft $384
MLS Listing ID CL25507085
HOA Y/N No
Year Built 1961
Lot Size 0.390 Acres
Acres 0.39
Property Sub-Type Other
Property Description
RARE INVESTMENT OPPORTUNITY- Introducing four turn-key, Free-standing Homes on two combined lots with Shovel-Ready RTI Plans for additional development. All four homes are delivered Vacant and updated, with a long rental history and low vacancy. Each turn-key property consists of 2 Bedrooms and 1 Bath, and has its own private backyard space, parking, and shares a sparkling communal poolA true Oasis Compound. While the homes are ready to generate income NOW at a 5.5%- 5.8% CAP, the fully entitled and approved plans allow the next owner to build an additional 2 (2 BD/1 BTH) homes/ADU's, for 6 total, creating an additional stream of income and a potential $15K in gross return at just today's market rates. This is a rare chance to create immediate cash flow with new tenants, live in one home and rent out others, and/or value-add with additional development and increased income. Get in before the $2.2B Palm Springs Airport Expansion. The ultimate canvas for Real Estate Investors in a growing region...
Location
State CA
County Riverside
Zoning R1
Interior
Heating Other
Cooling Central Air
Fireplace No
Building
New Construction No
Others
Tax ID 675253030
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Listed by Spencer Daley • Douglas Elliman