68080 Risueno Road, Cathedral City, CA 92234
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- MLS#: 25507085 ( )
- Street Address: 68080 Risueno Road
- Viewed: 5
- Price: $1,885,000
- Price sqft: $0
- Waterfront: No
- Year Built: 1961
- Bldg sqft: 0
- Days On Market: 23
- Additional Information
- County: RIVERSIDE
- City: Cathedral City
- Zipcode: 92234
- Subdivision: Panorama
- Provided by: Douglas Elliman
- Contact: Spencer Spencer
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DescriptionRARE INVESTMENT OPPORTUNITY Introducing four turn key, Free standing Homes on two combined lots with Shovel Ready RTI Plans for additional development. All four homes are delivered Vacant and updated, with a long rental history and low vacancy. Each turn key property consists of 2 Bedrooms and 1 Bath, and has its own private backyard space, parking, and shares a sparkling communal poolA true Oasis Compound. While the homes are ready to generate income NOW at a 5.5% 5.8% 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...
Property Location and Similar Properties
Features
Appliances
- Dishwasher
- Disposal
- Refrigerator
Architectural Style
- Mid Century Modern
Building Area Total
- 4900.00
Common Walls
- No Common Walls
Cooling
- Central Air
Country
- US
Garage Spaces
- 4.00
Heating
- Central
Interior Features
- Ceiling Fan(s)
Levels
- One
Netoperatingincome
- 105000.00
Parcel Number
- 675253030
Parking Features
- Garage - Two Door
- Guest
Pool Features
- In Ground
- Fenced
- Private
Postalcodeplus4
- 9108
Sourcesystemkey
- 25507085:CLAW
Spa Features
- None
Subdivision Name Other
- Panorama
Totalexpenses
- 10000.00
Year Built
- 1961
Zoning
- R1