27700 Avenida Terrazo new Save Request In-Person Tour Request Virtual Tour
Cathedral City,CA 92234
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,850 sqft
Price per Sqft $346
Subdivision Rio Vista
MLS Listing ID 219132613DA
Bedrooms 8
Full Baths 7
Year Built 1983
Annual Tax Amount $22,086
Lot Size 0.430 Acres
Property Sub-Type Multi-Family
Property Description
Rare opportunity to acquire 7 single-story units on a quiet street in an up-and-coming residential neighborhood featuring newly remodeled larger, modern homes. The building has great curb appeal on a large lot that could potentially be further developed. There are 6, 1-bed 1-bath units and 1, 2-bed 2-bath unit. Each unit has a small enclosed front patio, adding to the desirability. Most units have thoroughly updated kitchens, flooring, air conditioning, and window treatments, and are contemporary, not dated. Bathrooms are modern, and each unit is kept painted. All 7 units have separate gas and electric meters. An on-site laundry provides additional income and attracts tenants. There are multiple long-term tenants. Proforma Rent 109,920 + Laundry 797.95 = 110717.95 Gross RevenueExpenses: Taxes - 22,086.16; Insurance 4,864.50; Electric 1,025.08; Gas - 1,254.01; Water - 886.27; Landscaping - 2,400 = 29,350.66 Total Expenses Net Income : 81,367.29
Location
State CA
County Riverside
Area Cathedral City North
Interior
Heating Central, Heat Pump
Cooling Air Conditioning, Central, Electric, Gas, Heat Pump(s)
Flooring Tile
Exterior
Parking Features Parking for Guests, Unassigned
View Y/N No
Building
Story 1
Sewer Unknown
Level or Stories Ground Level
Others
Special Listing Condition Standard