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Robert Cole

rob@thecolegroup.co +1(714) 253-3777

$ 1,485,000

Est. payment | -/mo

0.37 Acres Lot

Save

$ 1,485,000

Est. payment | -/mo

Save

0.37 Acres Lot

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Subdivision Not Applicable-1

MLS Listing ID 219150697PS

HOA Y/N No

Year Built 1973

Lot Size 0.370 Acres

Property Description

Investor's dream in the heart of Palm Desert! This fully permitted five-unit income property sits on a spacious 0.41-acre lot and offers projected gross rental income of $10,350 per month ($124,200 annually) at full stabilization. Three units are currently leased and generating income, while the property's two highest-value units are vacant and ready for immediate lease-up at market rates.The primary residence is a spacious 2,700 sq. ft. 3-bedroom, 2-bath home featuring an attached two-car garage, private lap pool, in-ground spa, and built-in BBQ, with projected rental income of $3,750 per month. The standout feature is the detached 2-bedroom, 1.5-bath guest house, complete with its own owned solar system that saves approximately $400-$500 per month in electricity costs, with projected rental income of $3,000 per month.Completing the investment are two detached permitted ADUs projected to rent for $1,500 and $1,100 per month, each with its own electric meter, plus an attached permitted casita currently leased at $1,000 per month, with utilities included. Four of the five units have independent electric meters, helping reduce owner expenses. Best of all, there's no HOA.Ideally situated in the heart of Palm Desert, this property is just steps from the world-class dining, shopping, and entertainment along Highway 111 and the iconic El Paseo -- the ''Rodeo Drive of the Desert.'' Tenants enjoy walkable access to upscale boutiques, galleries, cafes, and restaurants, making this one of the most desirable rental locations in the Coachella Valley. Strong tenant demand and low vacancy are a natural result of a location this central.Whether you're completing a 1031 exchange, expanding your Coachella Valley investment portfolio, or looking for a multi-generational property with substantial income potential, 74431 De Anza Way offers a rare combination of immediate cash flow, future upside, and long-term flexibility.

Location

State CA

County Riverside

Area 322 - North Palm Desert

Interior

Heating Forced Air

Cooling Central Air

Flooring Tile

Fireplace No

Exterior

Parking Features Driveway, On Street

Garage Spaces 2.0

Garage Description 2.0

Pool In Ground

View Y/N Yes

View Mountain(s)

Total Parking Spaces 2

Private Pool Yes

Building

Story 1

Entry Level One

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 625074004

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Mike Haque eXp Realty of California, Inc. #01745484

NEARBY SCHOOLS & PROPERTIES

“My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! ”

+1(714) 253-3777

rob@thecolegroup.co

74431 De Anza WAY Palm Desert, CA 92260

Robert Cole

Key Details

Location

Interior

Exterior

Building

Others

NEARBY SCHOOLS & PROPERTIES

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74431 De Anza WAY