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$ 799,000
Est. payment | /mo
4 Beds
4 Baths
10,018 Sqft Lot
$ 799,000
Est. payment | /mo
4 Beds
4 Baths
10,018 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Sunrise Park (33257)
MLS Listing ID CV26070291
Bedrooms 4
Lot Size 10,018 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
We are pleased to present the opportunity to acquire 3737 E Calle De Carlos, a five-unit multifamily investment property located in the Demuth Park submarket of Palm Springs, California. Offered at $799,000, the property presents a unique value-add opportunity with four of the five units currently vacant, providing a new owner with immediate flexibility to execute their preferred investment strategy. Investors may elect to lease the available units in their current configuration, renovate and reposition the interiors, or explore converting the large studio floor plans into one-bedroom units to further enhance rental income and long-term value. Built in 1967, the property consists of approximately 3,625 square feet of rentable living area situated on an approximately 0.23-acre lot. The unit mix consists of five large studio / one-bathroom units averaging approximately 725 square feet, each featuring an open floor plan and private rear patio. Additional features include open parking and an on-site laundry room. The all-electric property is individually metered for electricity, while ownership pays water, sewer, and trash.At the current asking price, leasing the vacant units at market rents in their existing studio configuration results in a projected stabilized cap rate of approximately 6.74%, providing an attractive return without requiring substantial repositioning. For investors seeking additional upside, the combination of large floor plans, private patios, and four available units creates an opportunity to renovate and reposition the interiors or explore one-bedroom conv
Location
State CA
County Riverside
Zoning Public Rec
Direction Located on Calle De Carlos and El Placer Rd
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 680045002
Acceptable Financing Cash
Listing Terms Cash
Listed by Gisele Pinedo, DRE#02188347 MARCUS & MILLICHAP
NEARBY SCHOOL & BUSINESS