37439 Van Fleet St, CATHEDRAL CITY, 92234

SoldResidential Income - Apartment Building For Sale

$550,000

Beds
Baths
3,250Sqft
.3Acres
1980Built
84DOM
MLS® #: SW17241219MR
Sold, 84 Days on Market

This offering is a rare gem. It's located in the foothills of San Jacinto Mountains in the highly sought after Cathedral City Cove. While its currently fully rented, there's also a waiting list of tenants that want to live here due to its highly sought after location, and beautiful private park like setting. These unit's consist of three buildings that consist of one 2 bedroom 1 bath detached house, one 2 bedroom 1 bath unit, one 1 bedroom 1 bath unit, and two studios. All the units have large rooms and upgraded kitchens throughout. Units have carports and private patios. Check out the beautiful tile floors throughout in pictures. Further, this complex has it's own coin operated laundry room, that really generates extra money that's not specified in this listing (call for details). While these units are gorgeous. they also perform. At market rents, we come in at a 8.99 GRM, a 9.81% cap rate, and a robust 22.07% cash on cash return. These market rents are based on rent comps, of a another nearby 5Plex listing, on Bankside, priced $184K more than this listing. Definitely leading the pack in performance in the local area as well as the Valley. Please check out Rent Roll, & Income/Expenses/Returns attached in Supplements. Finally, check

Essential Information

MLS® #: SW17241219MR
Price: $550,000
Bathrooms: 0.00
Square Footage: 3,250
Acres: 0.30
Year Built: 1980
Type: Residential Income
Sub-Type: Apartment Building
Status: Sold

Community Information

Address: 37439 Van Fleet St
Area: Cathedral City South
City: CATHEDRAL CITY
County: Riverside
State: CA
Zip Code: 92234

Amenities

Pool: None

Additional Information

Date Listed: October 21st, 2017
Days on Market: 84
Zoning: R2

Listing Details

Listing Agent: Tony Burton (01014173)
Listing Office: Burton Commercial, Inc.
Contact Ron Parks: Phone: 760-883-8613

Financials

$/SqFt: $169
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