68080 Risueno Rd 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 4,900 sqft
Price per Sqft $364
Subdivision Panorama
MLS Listing ID 25529355
Bedrooms 12
Year Built 1961
Lot Size 7,841 Sqft
Acres 0.18
Property Sub-Type Multi-Family
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 Cathedral City North
Zoning R1
Rooms
Other Rooms None
Interior
Heating Central
Cooling Central
Equipment Refrigerator, Range/Oven, Dishwasher, Ceiling Fan, Garbage Disposal, Hood Fan
Exterior
Parking Features Garage - 2 Car, Parking for Guests
Garage Spaces 8.0
Building
Story 1
Level or Stories One
Others
Special Listing Condition Standard