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Key Details
Sold Price $3,869,250
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Not Applicable-1
MLS Listing ID 219111667DA
Sold Date 08/01/24
HOA Y/N No
Year Built 1972
Annual Tax Amount $40,207
Lot Size 1.000 Acres
Property Description
Great Investment Opportunity in Palm Desert. Introducing a rare investment opportunity located in the heart of Palm Desert at the southwest corner of Shadow Mountain Drive and San Luis Rey. This offering includes two adjacent buildings at 73665 and 73675 Shadow Mountain Dr., both operated as a single business entity known as Yum Yum Tree Apartments. The property spans 43,560 square feet of land with a total building size of 18,996 square feet. Built in 1972 and 1974, the property comprises 18 units in total, featuring 12 one-bedroom units and 6 two-bedroom units. The exterior construction is a combination of frame and stucco with a shingle mansard roof facade. The beautifully landscaped grounds include a gated pool at the larger complex. The 73665 building offers carport, surface parking, and garage options, while the 73675 building features detached single car garages. This property is ideally situated in a prime residential community, just one block south of the bustling shopping district known as El Paseo and near the regional mall and prime restaurants. These types of investment opportunities are ultra-rare and highly sought after. Don't miss out on this exceptional offering. For further information, please call. Note: 2yr ProForma attached to this listing.
Location
State CA
County Riverside
Area 323 - South Palm Desert
Interior
Heating Zoned
Cooling Zoned
Fireplace No
Appliance Water Heater
Exterior
Garage Assigned, Community Structure
Garage Spaces 1.0
Carport Spaces 1
Garage Description 1.0
Pool Community, In Ground
Community Features Pool
View Y/N Yes
View Mountain(s), Peek-A-Boo
Roof Type Composition,Flat
Total Parking Spaces 4
Private Pool Yes
Building
Lot Description 2-5 Units/Acre, Landscaped, Near Public Transit, Paved
Story 2
Entry Level Two
Foundation Slab
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 627311034
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Financing Conventional
Special Listing Condition Standard
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Bought with Jeff Stokes • Berkshire Hathaway HomeService
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David Burchell
Team Leader & Realtor | License ID: #02033130
Team Leader & Realtor License ID: #02033130