CA > Cathedral City > Rio Vista
Cathedral City, CA 92234,27700 Avenida Terrazo
Cathedral City, CA 92234,27700 Avenida Terrazo
Cathedral City, CA 92234,27700 Avenida Terrazo
Cathedral City, CA 92234,27700 Avenida Terrazo
Cathedral City, CA 92234,27700 Avenida Terrazo
Cathedral City, CA 92234,27700 Avenida Terrazo
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Jorge Sanchez & Lisa Molinar

Jorge Sanchez & Lisa Molinar

+1(909) 534-7488
$ 1,680,000
Est. payment | /mo

8 Beds

7 Baths

4,850 SqFt

Save
$ 1,680,000
Est. payment | /mo
Save

8 Beds

7 Baths

4,850 SqFt

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 4,850 sqft

Price per Sqft $346

Subdivision Rio Vista

MLS Listing ID 219132613

Bedrooms 8

Full Baths 7

HOA Y/N No

Year Built 1983

Lot Size 0.430 Acres

Property Sub-Type Apartment

Property Description

Rare opportunity to acquire 7 single-story units on a quiet street in an up-and-coming residential neighborhood featuring newly remodeled larger, modern homes. The building has great curb appeal on a large lot that could potentially be further developed. There are 6, 1-bed 1-bath units and 1, 2-bed 2-bath unit. Each unit has a small enclosed front patio, adding to the desirability. Most units have thoroughly updated kitchens, flooring, air conditioning, and window treatments, and are contemporary, not dated. Bathrooms are modern, and each unit is kept painted. All 7 units have separate gas and electric meters. An on-site laundry provides additional income and attracts tenants. There are multiple long-term tenants.

Proforma Rent 109,920 + Laundry 797.95 = 110717.95 Gross Revenue

Expenses: Taxes - 22,086.16; Insurance 4,864.50; Electric 1,025.08; Gas - 1,254.01; Water - 886.27; Landscaping - 2,400 = 29,350.66 Total Expenses

Net Income : 81,367.29

Location

State CA

County Riverside

Area 335 - Cathedral City North

Interior

Heating Central, Heat Pump

Cooling Air Conditioning, Central Air, Electric, Gas, Heat Pump

Fireplace false

Exterior

View Y/N false

Private Pool No

Building

Story 1

Entry Level Ground

Sewer Unknown

Level or Stories Ground

Others

Senior Community No

Acceptable Financing 1031 Exchange, Conventional

Listing Terms 1031 Exchange, Conventional

Special Listing Condition Standard

Listed by Grossman Real Estate

GET MORE INFORMATION

agent
Jorge Sanchez & Lisa Molinar

REALTORS® | Lic# 01958848 | 01882273

+1(909) 534-7488

74990 CA-111, Wells, CA, 92210

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27700 Avenida Terrazo