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74340 Magnesia Falls Drive

Palm Desert, CA 92260
  • $1,625,000
  • STATUS: Active
  • ON SITE: 70 Days
  • MLS #: 219079970
UPDATED: 97 min ago
$1,625,000
  • 10
    BEDS
  • 0.3
    ACRES
  • 8
    BATHS
  • 0
    1/2 BATHS
  • 3,908
    SQFT
  • $416
    $/SQFT
Neighborhood:
Not Applicable
Type:
Multi-Family
Built:
1989
County:
Riverside
Area:
322 - Palm Desert North

School Ratings & Info

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Description

Wow. Don't miss this newer, well maintained residential income property located in a very desirable neighborhood. Excellent location with high rental demand. This well maintained 4-plex is located in the heart of Palm Desert close to desired schools in a favored school district. The property consists of two 3bd/2ba units (end units #1 and #4) and two 2bd/2ba units (the middle units #2 and #3). All tenants are on month to month leases. There is a private community pool area with mountain views located in a quiet e cul-de-sac shared by other fourplex properties with an HOA taking care of common areas, landscaping and pool/spa. Major roof work was completed in 2021 and new A/C's were installed in 3 units within the past 3-5 years with recent work done. All units offer nice privacy, enclosed patio spaces, two with fireplaces, private inside laundry and attached double car garages. Upside potential to renovate and remodel units and get top market rents. An identical 4-plex sister property, located in the same HOA, just appraised and sold and closed for $1,600,000. Please ask for Income, Expense, Rent Roll and Projected Rent Statements. The owner is willing to provide some creative seller financing options for a qualified buyer.

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©2022 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 KUD Properties. Based on information from the California Desert Association of Realtors as of 2022-08-15T23:36:06.24. 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.kudprop.com/homes/129565869
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74340 Magnesia Falls Drive Palm Desert, CA 92260

  • Price: $1,625,000
  • Status: Active
  • On Site: 70 Days
  • Updated: 97 min ago
  • MLS #: 219079970
10
Beds
8
Baths
0
½ Baths
0.3
Acres
3,908
SQFT
$416
$/SQFT
1989
Built
Neighborhood:
Not Applicable
County:
Riverside
Area:
322 - Palm Desert North
Property Description
Wow. Don't miss this newer, well maintained residential income property located in a very desirable neighborhood. Excellent location with high rental demand. This well maintained 4-plex is located in the heart of Palm Desert close to desired schools in a favored school district. The property consists of two 3bd/2ba units (end units #1 and #4) and two 2bd/2ba units (the middle units #2 and #3). All tenants are on month to month leases. There is a private community pool area with mountain views located in a quiet e cul-de-sac shared by other fourplex properties with an HOA taking care of common areas, landscaping and pool/spa. Major roof work was completed in 2021 and new A/C's were installed in 3 units within the past 3-5 years with recent work done. All units offer nice privacy, enclosed patio spaces, two with fireplaces, private inside laundry and attached double car garages. Upside potential to renovate and remodel units and get top market rents. An identical 4-plex sister property, located in the same HOA, just appraised and sold and closed for $1,600,000. Please ask for Income, Expense, Rent Roll and Projected Rent Statements. The owner is willing to provide some creative seller financing options for a qualified buyer.
Exterior Features

Building Style Other Exterior Construction Stucco Foundation Slab Gated Community No Levels GroundGround LevelNo Unit AboveOne Parking Garage Door OpenerOther Patio Features Concrete Slab Roofing CompositionTile Total Carport Spaces 0.00 Total Covered Spaces 0.00 Total Parking Spaces 10.00 Total Uncovered Assigned Spaces 2.00 View No Window Treatments Mini BlindsVertical Blinds

Interior Features

Appliances DishwasherDisposalElectric Dryer HookupGas RangeMicrowave OvenRefrigerator Bathroom Features Shower Over Tub Bedroom Features All Bedrooms DownMain Floor BedroomMain Floor Master Bedroom Cooling Type Air ConditioningCeiling Fan(S)Central AirElectric Fireplace Yes Fireplace Features Gas Fireplace Location Living Room Flooring CarpetTile Heating CentralFireplace(S) Heating Fuel Electric Kitchen Features Formica Counters Rooms Dining AreaLiving Room Total Fireplaces 1

Property Features

Gross Annual Income Amount 63900.00 Gross Operating Income Amount 63900.00 Gross Schedule Income Amount 63900.00 Land Type Fee Simple Laundry Yes Laundry Equipment Hook-Ups Laundry Location In Garage Listing Terms CashConventionalOwner May Carry Lot Description LandscapedSidewalksStreet LightingStreet PavedStreet Public Monthly Gross Income Amount 5325.00 Owner Pays Association DuesWater Pool Yes Pool Accessories Safety FenceSafety Gate Pool Construction GuniteIn Ground Pool Description CommunityGas HeatedGuniteIn Ground Pool Location Community Property Attached Detached Yes Sale Type Standard Security Safety Other Senior Community No Sewer InConnected And Paid Spa Hot Tub Yes Spa Hot Tub Construction GuniteIn Ground Spa Hot Tub Description CommunityFencedHeated - Gas Tax Mello Roos No Tax Rate Percent 1.20 Tenant Pays Air Cond/Heat MainElectricityGas Volt220 Location In Garage Water Water District Water District Name Coachella Valley Water District Water Heater Yes Water Heater Feature GasWater Heater Unit

Listing information © 2022 California Desert Association of Realtors.
Listing provided courtesy of Doug Fischer of Coldwell Banker Realty.
©2022 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 KUD Properties. Based on information from the California Desert Association of Realtors as of 2022-08-15T23:36:06.24. 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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74124 Highway 111
Palm Desert CA, 92260