3778 E Calle De Carlos

    Palm Springs, CA 92264
    • $530,000
    • STATUS: Active
    • ON SITE: 13 days
    • ID#: SW20060249
    Price Reduced
    $530,000
    • 0
      BEDS
    • 0.23
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,000
      SQFT
    • $177
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1975
    County:

    School Ratings & Info

    Description

    This offering is a pretty 4Plex, in a quiet well kept neighborhood, near downtown, and within walking distance of the Super Walmart. This complex consists of two 1 bedroom 1 baths, and two studios. The studios are very large and could be converted to 1 bedroom 1 bath units. All units have laundry hook ups, tile flooring throughout, and upgraded kitchens.This complex has a very large 10,000 square foot parcel, which leaves plenty of land area around the units. All units have very large private fenced front and back yards.Actual rents are low, but all month to month. Each unit is rented at approximately $200 per month under market. Please see RENT ROLL, and, RENT COMPS, attached. This 4Plex has exceptional returns, and you get a lot of income for the price. These returns are by far, the best returns Palm Springs has seen in years. At actual rents, we put out $42,360 Annual Gross Income, $34,333 Net Operating Income, a 12.51 Gross Rent Multiplier, a 6.48% Cap Rate, and a 9.47% cash on cash return. There's been nothing close to returns this good in many years. Please see "ACTUAL INCOME + EXPENSES/RETURNS" attached. AND, when you raise actual rents to market rents (see RENT COMPS attached), we put out $52,440 Annual Gross Income, a $44,413 Net Operating Income, a 10.11 Gross Rent Multiplier, a robust 8.38% Cap Rate, and an eye opening 18.98% Cash on Cash Return!!! Please see "MARKET INCOME + EXPENSES/RETURNS" attached.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-02T00:26:48.397. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Crudo & Associates | Willis Allen Real EstateLa Jolla. Licensed in the State of California, USA.

    www.sdluxe.com/homes/104320334

    3778 E Calle De Carlos Palm Springs, CA 92264

    • Price: $530,000
    • Status: Active
    • ID#: SW20060249
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.23
    Acres
    3,000
    SQFT
    $177
    $/SQFT
    1975
    Built
    Neighborhood:
    699 - Not Defined
    County:
    Riverside
    Area:
    699 - Not Defined
    Property Description
    This offering is a pretty 4Plex, in a quiet well kept neighborhood, near downtown, and within walking distance of the Super Walmart. This complex consists of two 1 bedroom 1 baths, and two studios. The studios are very large and could be converted to 1 bedroom 1 bath units. All units have laundry hook ups, tile flooring throughout, and upgraded kitchens.This complex has a very large 10,000 square foot parcel, which leaves plenty of land area around the units. All units have very large private fenced front and back yards.Actual rents are low, but all month to month. Each unit is rented at approximately $200 per month under market. Please see RENT ROLL, and, RENT COMPS, attached. This 4Plex has exceptional returns, and you get a lot of income for the price. These returns are by far, the best returns Palm Springs has seen in years. At actual rents, we put out $42,360 Annual Gross Income, $34,333 Net Operating Income, a 12.51 Gross Rent Multiplier, a 6.48% Cap Rate, and a 9.47% cash on cash return. There's been nothing close to returns this good in many years. Please see "ACTUAL INCOME + EXPENSES/RETURNS" attached. AND, when you raise actual rents to market rents (see RENT COMPS attached), we put out $52,440 Annual Gross Income, a $44,413 Net Operating Income, a 10.11 Gross Rent Multiplier, a robust 8.38% Cap Rate, and an eye opening 18.98% Cash on Cash Return!!! Please see "MARKET INCOME + EXPENSES/RETURNS" attached.
    Exterior Features

    Garage Spaces 0.00 Lot Features 2-5 Units/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 0.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features Washer Hookup

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 8.22 Community Features Biking Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 52440.00 Gross Multiplier 10.30 Gross Scheduled Income 52440.00 Insurance Expense 1000.00 Land Lease YN No Laundry YN Yes Net Operating Income 44413.00 New Construction YN No New Taxes Expense 5227.00 Number Of Separate Electric Meters 4 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 1 Operating Expense 8027.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Expenses 2800.00 Trash Expense 840.00 Water Sewer Expense 960.00 Water Source Public Year Built Source Estimated

    Listing provided courtesy of Tony Burton of Burton Commercial, Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-04-02T00:26:48.397. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Crudo & Associates | Willis Allen Real EstateLa Jolla. Licensed in the State of California, USA.

     
    Crudo & Associates | Willis Allen Real EstateLa Jolla
    1131 Wall St.
    La Jolla CA, 92037