66
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$1,485,000
Est. payment /mo
0.37 Acres Lot
New
74431 De Anza WAY Palm Desert, CA 92260
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision Not Applicable-1
MLS Listing ID 219150697PS
HOA Y/N No
Year Built 1973
Lot Size 0.370 Acres
Property Description
Investor's dream in the heart of Palm Desert! This fully permitted five-unit income property sits on a spacious 0.41-acre lot and offers projected gross rental income of $10,350 per month ($124,200 annually) at full stabilization. Three units are currently leased and generating income, while the property's two highest-value units are vacant and ready for immediate lease-up at market rates.The primary residence is a spacious 2,700 sq. ft. 3-bedroom, 2-bath home featuring an attached two-car garage, private lap pool, in-ground spa, and built-in BBQ, with projected rental income of $3,750 per month. The standout feature is the detached 2-bedroom, 1.5-bath guest house, complete with its own owned solar system that saves approximately $400-$500 per month in electricity costs, with projected rental income of $3,000 per month.Completing the investment are two detached permitted ADUs projected to rent for $1,500 and $1,100 per month, each with its own electric meter, plus an attached permitted casita currently leased at $1,000 per month, with utilities included. Four of the five units have independent electric meters, helping reduce owner expenses. Best of all, there's no HOA.Ideally situated in the heart of Palm Desert, this property is just steps from the world-class dining, shopping, and entertainment along Highway 111 and the iconic El Paseo -- the ''Rodeo Drive of the Desert.'' Tenants enjoy walkable access to upscale boutiques, galleries, cafes, and restaurants, making this one of the most desirable rental locations in the Coachella Valley. Strong tenant demand and low vacancy are a natural result of a location this central.Whether you're completing a 1031 exchange, expanding your Coachella Valley investment portfolio, or looking for a multi-generational property with substantial income potential, 74431 De Anza Way offers a rare combination of immediate cash flow, future upside, and long-term flexibility.
Location
State CA
County Riverside
Area 322 - North Palm Desert
Interior
Heating Forced Air
Cooling Central Air
Flooring Tile
Fireplace No
Exterior
Parking Features Driveway, On Street
Garage Spaces 2.0
Garage Description 2.0
Pool In Ground
View Y/N Yes
View Mountain(s)
Total Parking Spaces 2
Private Pool Yes
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 625074004
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
Listed by Mike Haque eXp Realty of California, Inc. #01745484
NEARBY SCHOOL & BUSINESS
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