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2980 E Ranchero Dr

Palm Springs, CA 92262
  • $3,150,000
  • STATUS: ACTIVE
  • ON SITE: 40 Days
  • ID#: 220016810
$3,150,000
  • 17
    BEDS
  • 0.49
    ACRES
  • 10
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
County:

School Ratings & Info

Description

Prime location off E Ramon Rd, this 8 unit single-level complex has been extensively remodeled and shows pride of ownership throughout. pix are from 2020, the property had additional remodeling done, it is in great conditions. It totals 17 bedrooms and 10 bathrooms with about 9,000 sf+/-. It is comprised of (2) 3BR/2BTH units, (5) 2 BR/1BTH units and a (1) 1BR/1BTH unit all with private patios and surrounding a community pool in a gated enclave. Off street parking for 12+ cars. Uses include apartment rentals or converting it to a sober living home, senior living community or a possible condo conversion. Zoned R-2. Actual rents at $15,419+ per month. Projected rent by end of the year $18,000 with a CAP rate of 5% estimated. Units have modern, high end kitchens/bathrooms, tile flooring throughout, high ceilings, dual pane windows, washer/dryer in every unit and individual gas/electric meters. Complex close to public transportation and shopping. This is a superior complex ready for your investment direction. This complex features an incredible sparkling pool and grassy area, assigned parking for each unit and gated. It is an incredible opportunity!

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San Diego MLS logo 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 © 2022 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/130458322
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2980 E Ranchero Dr Palm Springs, CA 92262

  • Price: $3,150,000
  • Status: ACTIVE
  • On Site: 40 Days
  • ID#: 220016810
17
Beds
10
Baths
0
½ Baths
0.49
Acres
Neighborhood:
Riv Cty-Palm Springs (92262)
County:
Riverside
Area:
Riv Cty-Palm Springs (92262)
Property Description
Prime location off E Ramon Rd, this 8 unit single-level complex has been extensively remodeled and shows pride of ownership throughout. pix are from 2020, the property had additional remodeling done, it is in great conditions. It totals 17 bedrooms and 10 bathrooms with about 9,000 sf+/-. It is comprised of (2) 3BR/2BTH units, (5) 2 BR/1BTH units and a (1) 1BR/1BTH unit all with private patios and surrounding a community pool in a gated enclave. Off street parking for 12+ cars. Uses include apartment rentals or converting it to a sober living home, senior living community or a possible condo conversion. Zoned R-2. Actual rents at $15,419+ per month. Projected rent by end of the year $18,000 with a CAP rate of 5% estimated. Units have modern, high end kitchens/bathrooms, tile flooring throughout, high ceilings, dual pane windows, washer/dryer in every unit and individual gas/electric meters. Complex close to public transportation and shopping. This is a superior complex ready for your investment direction. This complex features an incredible sparkling pool and grassy area, assigned parking for each unit and gated. It is an incredible opportunity!
Exterior Features

Carports 0 Construction Lath/PlasterStucco Exterior All Auto SprinklersAuto Front SprinklersAuto Rear SprinklersBlock FenceCable AvailableFront SprinklersFully LandscapedMetal FenceSatellite Dish Parking Spaces Parking Spaces Total 12 Roof Composition Units With Garages 0

Interior Features

Cooling Central Forced Air GasHeat Pump Floor Coverings HardwoodTile Floors Slab Heating Central Forced Air Gas Laundry Owned Sq Ft Of Improvement 9000 Stories 1 Story Unit Furnished2 No Unit Furnished3 No Unit Furnished4 No Unit Furnished5 No Unit Furnished6 No Unit Furnished7 No Unit Furnished8 No Units With Dishwashers 8 Units With Disposals 8 Units With Ranges 8 Units With Refrigerators 8

Property Features

1st Loan Assumable Yes 1st Loan Balance 1175000 1st Loan Interest 3.5% Actual Cap Rate 3.5 Actual Gross Scheduled Income 15420.0 Actual Operating Expense 42164 Actual Vacancy And Credit Loss 0 Assumable Finance 1200000 Buildings 1 Complex Features Heated PoolRv Parking Existing Financing ConventionalFixed Rate Financial Information Source Owner Gross Equity 1900000 Gross Multiplier 13.7 Have PoolGated Community Mandatory Remarks None Known Monthly Rent Total 15420 Motive Want 1031 Exchange Other Income Actual 0 Present Loan 1200000 Projected Cap Rate 4.95 Projected Gross Scheduled Inc 18400 Short Sale No Special None Sq Ft Source Buyer To VerifyTax Record Tenant Pays Electric Y Tenant Pays Water N Terms Assumable 1StCashCash To Existing LoanCash To New Loan Unit Number1 1 Unit Number2 1 Unit Number3 1 Unit Number4 1 Unit Number5 1 Unit Number6 1 Unit Number7 1 Unit Number8 1 Unit Rent Total1 2500 Unit Rent Total2 1926 Unit Rent Total3 1832 Unit Rent Total4 1786 Unit Rent Total5 1700 Unit Rent Total6 2250 Unit Rent Total7 1500 Unit Rent Total8 1926 Unit Rent1 2500 Unit Rent2 1926 Unit Rent3 1831.68 Unit Rent4 1786 Unit Rent5 1700 Unit Rent6 2250 Unit Rent7 1500 Unit Rent8 1926 Unit Type Apartment Zoning R2

San Diego MLS logo Listing provided courtesy of Compass. Listing information © 2022 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo 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 © 2022 San Diego MLS, Inc. Licensed in the state of California.
 
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San Diego CA, 92101