69180 Victoria Drive, Cathedral City, CA 92234

$2,949,000 Approx. USD 0 beds, 0 baths

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Brochure

Photo of Valerie Tuck

Marketed By Valerie Tuck REALTOR® - Sales Associate 858-353-3377 m
858-353-3377 o
Lic#: 01947055
NRDS ID: 196559249
valerietuckhomes@gmail.com La Jolla Prospect Office
1299 Prospect St, Ste. 100-101, 200-203 & 301-302
La Jolla, CA 92037
Phone: 858-459-0501
Fax: 858-459-3275

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Agent Remarks

This fully leased, ten-unit property features spacious three-bedroom, two-bath residences averaging approximately 1,230 square feet--each equipped with in-unit laundry, private patios, and covered carport parking. Residents enjoy a premier amenity package, including a resort-style pool and tennis court, all on a well-maintained 0.8-acre site.Strategically located just off the Rancho Mirage border, the property delivers central access to Palm Springs and Palm Desert, in a submarket characterized by increasing rents and enduring demand. Operations are optimized through separately metered utilities, tenant-paid water and trash, and solar-paned common areas, resulting in stable net operating income and low management intensity. Current collections reach an annualized $250,512 in rent and $254,512 effective gross income, supporting a strong in-place cap rate of 6% at the offering price of $2,949,000.Further value lies in the potential conversion of the existing rear ADU into an income-generating unit and the possibility for redevelopment of the tennis court area, pending buyer verification. This asset represents a rare blend of immediate yield and development upside--an attractive proposition for institutional and private investors seeking both stable returns and long-range growth in one of Southern California's most resilient rental markets.

Listing Details

Property type: (Multi-Family)

Status: Active

MLS# 219145029DA

Price: $2,949,000

HOA Fee is $0.00

Beds: 0

Baths: 0

Built in 1982

2 stories

0.80 acres

Lot size: 0.8000