$2,550,000

2980 E Ranchero Drive

Palm Springs CA, 92262

Description

Prime location off E Ramon Rd, this 8 unit single-level complex has been extensively remodeled and shows pride of ownership throughout. It totals 17 bedrooms and 10 bathrooms with about 9,000 sf+/-. It is comprised of (2) 3BR/2BTH units, (5) 2 BR/1BTH units and a (1) 1BR/1BTH unit all with private patios and surrounding a community pool in a gated enclave. Off street parking for 12+ cars. Uses include apartment rentals, vacation rentals or converting it to a sober living home, senior living community or a possible condo conversion. Zoned R-2. Projected rents estimated at $15K+ per month. NOTE: Unit #1-3BR/2BTH is owner occupied and not on rent roles. CAP rate of 6% estimated. Units have modern, high end kitchens/bathrooms, tile flooring throughout, high ceilings, dual pane windows, washer/dryer in every unit and individual gas/electric meters. Complex close to public transportation and shopping. This is a superior complex ready for your investment direction. MLS pictures from 2018.

Details

MLS#20661096
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1960
Days On Site4

Features

Units8
Building(s)1

Market Activity 92262

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Area Information
StateCA
CountyRiverside
CityPalm Springs
Zip Code92262
Area332 - Central Palm Springs
Listing VS Median (in 92262)
Price:
$2,550,000
low | high
Med:
$449,000
100% of Average
On Site:
4
low | high
Med:
44
9.090909090909% of Average
Listing Updated: November 22, 2020 11:26:47 PM PST
Gil Rose LogoMLS Number: 20661096
Listing Provided By:
Gil Rose  of  HomeSmart Professionals
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.