15
See all 15 photos
$1,680,000
Est. payment /mo
8 Beds
7 Baths
4,850 SqFt
New
27700 Avenida Terrazo Cathedral City, CA 92234
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Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 4,850 sqft
Price per Sqft $346
Subdivision Rio Vista
MLS Listing ID 219132613
Bedrooms 8
Full Baths 7
HOA Y/N No
Year Built 1983
Lot Size 0.430 Acres
Property Sub-Type Apartment
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 Revenue
Expenses: 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
Proforma Rent 109,920 + Laundry 797.95 = 110717.95 Gross Revenue
Expenses: 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 335 - Cathedral City North
Interior
Heating Central, Heat Pump
Cooling Air Conditioning, Central Air, Electric, Gas, Heat Pump
Fireplace false
Exterior
View Y/N false
Private Pool No
Building
Story 1
Entry Level Ground
Sewer Unknown
Level or Stories Ground
Others
Senior Community No
Acceptable Financing 1031 Exchange, Conventional
Listing Terms 1031 Exchange, Conventional
Special Listing Condition Standard
Listed by Grossman Real Estate