74443 Driftwood Drive

Palm Desert, CA 92260

  • 0 Bed(s)
  • 0 Bath(s)
  • 3,188 Sqft
  • 9148
    Sqft(Lot)
$1,030,000

Description

This offering is a rarity. a trophy apartment in the finest area of palm desert, the area of el paseo! and it's just short walking distance from the el paseo shopping district, grocery, and the westfield mall. palm desert is the finest area of the coachella valley, and the el paseo district is the finest area of palm desert!!



this 4plex consists of four 2 bedrooms, 1 & 1/2 half baths. it further has carport parking, a beautiful pristine pool, and a large pool deck for tenants and guest. the kitchens are upgraded with newer appliances and granite counter tops. this complex further has central heat/air throughout.



all tenancies are month to month and can be brought up to market. there's one vacancy and one unit who's currently a handyman/manager who can be brought up to market rents. please see rent roll attached in supplements package.



since rents are month to month, please check out the market rents you can get in this fine neighborhood. nearby market rents per rent comps are $2,300 per month. please see rent comps in supplements attached.



at market rents, the complex really performs. it puts out $110,000 in annual gross income, a 9.33 gross rent multiplier, a 9.84% cap rate, and a robust 21.95% cash on cash return!! please see the supplements attached for details on these returns!!



seller to pick services. buyer/buyer's agent to provide and pay for (email, docusign, etc) all tc services, including all documents/paperwork, they require for buyer and seller to sign.

  • Property Type

    Residential Income

  • County

    Riverside

  • Style

    Residential Income

  • AD ID

    48943368

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Property Details

  • Water/Sewer

    • Water Source : Public
    • Sewer : Public Sewer

    Heating Source

    • None
    • Has Heating

  • Building Information

    • Year Built: 1974
    • Building Area Total: 3,188

    Pool Features

    • Private

    Laundry Features

    • Common Area,Laundry Room

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.21
    • Lot Size Source: Assessor
    • Lot Size Square Feet: 9148

  • Listing Price Information

    • Original List Price: 1,030,000
    • Listing Contract Date: 2025-03-12

    Lease Information

    • Listing Agreement: Exclusive Right To Sell

  • Tax Information

    • Parcel Number: 625143014

  • Garage and Parking

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable

  • Other Property Info

    • Source Listing Status: Pending
    • Source Neighborhood: 323 - South Palm Desert
    • Postal Code Plus 4: 4421
    • Directions: Cook to Driftwood
    • Zoning: R303M
    • Source Property Type: Residential Income
    • Area: 323 - South Palm Desert
    • Property SubType: Quadruplex

    Building and Construction

    • Property Age: 51
    • Common Walls: 2+ Common Walls
    • Structure Type: Quadruplex
    • Year Built Source: Assessor
    • Entry Level: 1
    • Entry Location: front
    • Property Attached: Yes
    • Levels or Stories: One
    • Building Total Stories: 1
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BuyOwner last updated this listing 04/04/2025 @ 10:26

  • MLS: SW25054919
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 0 bedrooms which is recently sold, it has 3,188 sqft, 9,148 sized lot, and 0 parking. are nearby neighborhoods.