68080 Risueno Rd Active 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 4,900 sqft
Price per Sqft $352
Subdivision Panorama
MLS Listing ID 25602401
Style Mid-Century
Bedrooms 12
Year Built 1962
Lot Size 0.390 Acres
Property Sub-Type Multi-Family
Property Description
RARE INVESTOR OPPORTUNITY- Introducing four turn-key, Free-standing Homes on two combined lots with RTI Plans for additional development. Two homes are currently Vacant and ready for market-rents. 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% CAP, the fully entitled and approved plans allow the next owner to build an additional 2 homes, 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 Cathedral City North
Zoning R1
Rooms
Other Rooms None
Interior
Heating Central
Cooling Central
Equipment Range/Oven, Refrigerator, Dishwasher, Ceiling Fan, Garbage Disposal, Hood Fan
Exterior
Parking Features Garage - 2 Car, Parking for Guests
Garage Spaces 8.0
Pool In Ground, Fenced, Private
Building
Story 1
Others
Special Listing Condition Standard