16
See all 16 photos
$1,788,000
Est. payment /mo
12 Beds
6 Baths
4,900 SqFt
New
68080 Risueno RD Cathedral City, CA 92234
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,900 sqft
Price per Sqft $364
Subdivision Panorama
MLS Listing ID 25529355
Bedrooms 12
HOA Y/N No
Year Built 1961
Lot Size 7,840 Sqft
Property Description
Introducing four turn-key, Free-standing Homes on two combined lots with Shovel-Ready RTI Plans for additional development. Currently, 2 out of the 4 units are delivered vacant, with a long rental history and low vacancy. Each turn-key property consists of 2 Bedrooms and 1 Bath, and has their own private backyard space, parking, and shares a sparkling communal pool. A true Oasis Compound. While the homes are ready to generate income NOW at close to 6% CAP, the fully entitled and approved plans allow the next owner to build an additional 2 (2 BD/1 BTH) homes/ADU's, for 6 total, creating an additional stream of income and a potential $15K 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 $2.2B Palm Springs Airport Expansion. The ultimate canvas for Real Estate Investors in a growing region...
Location
State CA
County Riverside
Area 335 - Cathedral City North
Zoning R1
Interior
Interior Features Ceiling Fan(s)
Heating Central
Cooling Central Air
Fireplace No
Appliance Dishwasher, Disposal, Refrigerator
Exterior
Parking Features Door-Multi, Garage, Guest
Garage Spaces 4.0
Garage Description 4.0
Total Parking Spaces 8
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 675253030
Special Listing Condition Standard
Listed by Spencer Daley • Douglas Elliman