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    1900 E Baristo Road

    Palm Springs, CA 92262
    • $1,095,000
    • STATUS: ACTIVE
    • ON SITE: 164 days
    • ID#: 200004587
    UPDATED: 32 min ago
    $1,095,000
    • 8
      BEDS
    • 0.28
      ACRES
    • 8
      BATHS
    • 1
      1/2 BATHS
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    KW Commercial is proud to present a 7-unit multi-family investment property with strong cash flow in the heart of the resort town of Palm Springs, CA. The tenants are long-term and month-to-month; ranging from 1 year to 5 years. The rents for 2020 will generate $80,236 in revenue (which includes $1,000 from the Laundry Room). Operating expenses are estimated to be $27,407 based on 2019 expenses ($13,719) and property taxes based on a $1.095 million valuation ($13,688). Thereby, generating a Net Operating Income of $52,829 for the new owner. The property includes one Studio, five 1-bedroom/1-bath, and one 3-bedroom with 2.5-bath. The Property offers tenants a pool and a small laundry room. PROPERTY HIGHLIGHTS • $50,000 in renovations over the last 3 years • No Deferred Maintenance • Market Rents: 5 Units Eligible for Increases in 2020 Please drive, but do not speak or disturb tenants. With a Letter of Intent, a site visit can be arranged thru listing agents. Please provide lender approval letter

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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2020 San Diego MLS, Inc. Licensed in the state of California.
    www.sellsandiego.com/homes/102664044
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    1900 E Baristo Road Palm Springs, CA 92262

    • Price: $1,095,000
    • Status: ACTIVE
    • Updated: 32 min ago
    • ID#: 200004587
    8
    Beds
    8
    Baths
    1
    ½ Baths
    0.28
    Acres
    Neighborhood:
    Riv Cty-Palm Springs (92262)
    County:
    Riverside
    Area:
    Riv Cty-Palm Springs (92262)
    Property Description
    KW Commercial is proud to present a 7-unit multi-family investment property with strong cash flow in the heart of the resort town of Palm Springs, CA. The tenants are long-term and month-to-month; ranging from 1 year to 5 years. The rents for 2020 will generate $80,236 in revenue (which includes $1,000 from the Laundry Room). Operating expenses are estimated to be $27,407 based on 2019 expenses ($13,719) and property taxes based on a $1.095 million valuation ($13,688). Thereby, generating a Net Operating Income of $52,829 for the new owner. The property includes one Studio, five 1-bedroom/1-bath, and one 3-bedroom with 2.5-bath. The Property offers tenants a pool and a small laundry room. PROPERTY HIGHLIGHTS • $50,000 in renovations over the last 3 years • No Deferred Maintenance • Market Rents: 5 Units Eligible for Increases in 2020 Please drive, but do not speak or disturb tenants. With a Letter of Intent, a site visit can be arranged thru listing agents. Please provide lender approval letter
    Exterior Features

    Construction FrameLath/Plaster Exterior Block FenceCable AvailableCommunity FacilitiesFront SprinklersFully LandscapedMetal FenceRear Sprinklers Parking Spaces Parking Spaces Total 7 Roof Composition

    Interior Features

    Cooling Wall/Window Floor Coverings TileWall To Wall Carpet Heating Wall Laundry Owned Sq Ft Of Improvement 100 Stories Bi Level

    Property Features

    Actual Cap Rate 4.82 Actual Gross Operating Income 80236 Actual Gross Scheduled Income 79236.0 Actual Operating Expense 27407 Actual Vacancy And Credit Loss 0 Assumable Finance 0 Buildings 2 Complex Features BbqHeated Pool Fiscal Year From 19 Fiscal Year To 20 Gross Equity 100 Gross Multiplier 13.6 Have PoolNew PatioLaundry Leased Apartments 7 Mandatory Remarks None Known Monthly Rent Total 6603 Motive Want Owner Decision. Other Income Actual 1000 Other Income Source 83 Special None Sq Ft Source Buyer To VerifyTax Record Terms CashCash To New LoanFhaSubmitVa Unit Number1 1 Unit Number2 2 Unit Number3 1 Unit Number4 4 Unit Number5 5 Unit Number6 6 Unit Number7 7 Unit Rent Total1 10368 Unit Rent Total2 8700 Unit Rent Total3 11400 Unit Rent Total4 11100 Unit Rent Total5 10368 Unit Rent Total6 10800 Unit Rent Total7 16500 Unit Rent1 864 Unit Rent2 725 Unit Rent3 950 Unit Rent4 925 Unit Rent5 864 Unit Rent6 900 Unit Rent7 1375 Unit Type Apartment Zoning R2

    Listing provided courtesy of Keller Williams Realty. Listing information © 2020 San Diego MLS Inc. Source: SDMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2020 San Diego MLS, Inc. Licensed in the state of California.
     
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    Neuman & Neuman Real Estate Inc.
    516 5th Avenue
    San Diego CA, 92101