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4 turn-key Homes+ RTI Plans! 68080 Risueno Rd 4 Unit Apartment Building $1,595,000 ($398,750/Unit) 6.50% Cap Rate Cathedral City, CA 92234
INVESTMENT HIGHLIGHTS
- 4 Turn-key, income producing Free-Standing Homes on one lot
- Minutes from Palm Springs and the massive airport expansion project
- RTI plans to add two more additional homes, for 6 total
EXECUTIVE SUMMARY
RARE INVESTOR OPPORTUNITY- Introducing four turn-key, Free-standing Homes on one lot with RTI Plans for additional development. All four existing units are turn-key. Three homes are currently rented at market rents, with one current vacancy. Long rental history and low vacancies. Each turn-key property has its own private backyard space, parking, and shares a communal pool: A true Oasis Compound. While the homes are ready to generate income NOW at a 6.5% CAP, the fully entitled and approved plans allow the next owner to build an additional 2 homes without effecting the other homes, for 6 total, creating an additional stream of income and a potential $14K 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 impressive Palm Springs Airport Expansion. The ultimate canvas for Real Estate Investors in a growing region...
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$110,000
|
$22.45
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$110,000
|
$22.45
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $110,000 |
| Annual Per SF | $22.45 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $110,000 |
| Annual Per SF | $22.45 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
| Price | $1,595,000 | Building Class | C |
| Price Per Unit | $398,750 | Lot Size | 0.30 AC |
| Sale Type | Investment | Building Size | 4,900 SF |
| Cap Rate | 6.50% | Average Occupancy | 75% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | ||
| Zoning | R1 - RTI plans in place to build two additional homes, for 6 total. | ||
| Price | $1,595,000 |
| Price Per Unit | $398,750 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 4,900 SF |
| Average Occupancy | 75% |
| No. Stories | 1 |
| Year Built | 1961 |
| Zoning | R1 - RTI plans in place to build two additional homes, for 6 total. |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | $2,350 | 800 |
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Presented by
Spencer Daley
4 turn-key Homes+ RTI Plans! | 68080 Risueno Rd
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