Homes for sale - 68080 Risueno RD, Cathedral City, CA 92234

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REMAX Coastal Homes

info@remaxcoastalhomes.com +1(949) 276-2992

$ 1,885,000

Est. payment | -/mo

12 Beds

6 Baths

4,900 SqFt

Save

$ 1,885,000

Est. payment | -/mo

Save

12 Beds

6 Baths

4,900 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,900 sqft

Price per Sqft $384

Subdivision Panorama

MLS Listing ID 25507085

Bedrooms 12

HOA Y/N No

Year Built 1961

Lot Size 0.390 Acres

Property Description

RARE 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...

Location

State CA

County Riverside

Area 335 - Cathedral City North

Zoning R1

Interior

Interior Features Ceiling Fan(s)

Heating Central

Cooling Central Air

Fireplace No

Appliance Dishwasher, Disposal, Refrigerator

Exterior

Parking Features Door-Multi, Garage, Guest

Garage Spaces 4.0

Garage Description 4.0

Pool Fenced, In Ground, Private

Total Parking Spaces 8

Private Pool Yes

Building

Story 1

Entry Level One

Architectural Style Mid-Century Modern

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 675253030

Special Listing Condition Standard

Listed by Spencer Daley • Douglas Elliman

+1(949) 276-2992

info@remaxcoastalhomes.com

United States

68080 Risueno RD Cathedral City, CA 92234