15
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$2,949,000
Est. payment /mo
0.8 Acres Lot
Active
69180 Victoria DR Cathedral City, CA 92234
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision Not Applicable-1
MLS Listing ID 219145029DA
HOA Y/N No
Year Built 1982
Lot Size 0.800 Acres
Property Description
This fully leased, ten-unit property features spacious three-bedroom, two-bath residences averaging approximately 1,230 square feet--each equipped with in-unit laundry, private patios, and covered carport parking. Residents enjoy a premier amenity package, including a resort-style pool and tennis court, all on a well-maintained 0.8-acre site.Strategically located just off the Rancho Mirage border, the property delivers central access to Palm Springs and Palm Desert, in a submarket characterized by increasing rents and enduring demand. Operations are optimized through separately metered utilities, tenant-paid water and trash, and solar-paned common areas, resulting in stable net operating income and low management intensity. Current collections reach an annualized $250,512 in rent and $254,512 effective gross income, supporting a strong in-place cap rate of 6% at the offering price of $2,949,000.Further value lies in the potential conversion of the existing rear ADU into an income-generating unit and the possibility for redevelopment of the tennis court area, pending buyer verification. This asset represents a rare blend of immediate yield and development upside--an attractive proposition for institutional and private investors seeking both stable returns and long-range growth in one of Southern California's most resilient rental markets.
Location
State CA
County Riverside
Area 336 - Cathedral City South
Interior
Heating Central
Flooring Tile
Fireplace No
Exterior
Parking Features Covered, Driveway
Carport Spaces 10
Pool Community, In Ground
Community Features Pool
View Y/N Yes
View Desert, Mountain(s)
Total Parking Spaces 20
Private Pool Yes
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 673141001
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
Lease Land No
Listed by Albert Catalano Century 21 Affiliated Fine Homes & Estates #02253921
NEARBY SCHOOL & BUSINESS
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