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Listed by ALBERT LE, DRE #01468313 • LE INVESTMENT GROUP
$ 7,410,000
Est. payment /mo
New
74380 El Camino Palm Desert, CA 92260
515 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRIV26208044
Year Built 1963
Lot Size 515 Sqft
Source California Regional MLS
Property Description
HIGHLIGHTS: Palm Desert opportunity: 38 of 52 condo units, 73% majority ownership of the entire community, in a highly desirable year-round tourism destination. / 38 fully renovated, furnished and turnkey condos in the heart of Palm Desert, with all FF&E included and approximately $50,000 invested per unit. / Strong day-one cash flow with a 9.00% CAP, plus significant upside to a 13.36% proforma CAP and a per unit basis 15%-30% below nearby condo sales. / Renovated interiors and upgraded major common-area infrastructure, with additional aesthetic repositioning upside and multiple exit strategies through / Prime Palm Desert location near El Paseo, with a $237 proforma ADR and significant peak-season upside driven by major events and year-round tourism. / Fully condo-mapped. $575/Unit/Month HOA dues cover water, internet, common area insurance, exterior maintenance, pool & landscaping. The offering consists of 38 of the 52 condominium units (approximately 73% of the entire project) located at 74380 El Camino in Palm Desert, California. This substantial concentration of ownership represents a unique opportunity to acquire a controlling majority of the units within a single project, providing investors with significant scale and the potential to benefit from future improvements a
Location
State CA
County Riverside
Area 323 - South Palm Desert
Interior
Heating Central Forced Air
Cooling Central AC
Laundry Community Facility
Exterior
Parking Features Assigned Spaces
Pool Community Facility, Spa - Community Facility
View None
Building
Story One Story
Water District - Public
Others
Tax ID 625340006
Special Listing Condition Not Applicable
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