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2980 E Ranchero Dr Palm Springs, CA 92262
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Key Details
Sold Price $2,925,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 220027581
Lot Size 0.490 Acres
Property Description
Prime location off E Ramon Rd, this 8 unit single-level complex has been extensively remodeled and shows pride of ownership throughout. pix are from 2020, the property had additional remodeling done, it is in great conditions. It totals 17 bedrooms and 10 bathrooms with about 9,000 sf+/-. It is comprised of (2) 3BR/2BTH units, (5) 2 BR/1BTH units and a (1) 1BR/1BTH unit all with private patios and surrounding a community pool in a gated enclave. Off street parking for 12+ cars. Uses include apartment rentals or converting it to a sober living home, senior living community or a possible condo conversion. Zoned R-2. Actual rents at $15,419+ per month. Projected rent by end of the year $18,000 with a CAP rate of 5% estimated. Units have modern, high end kitchens/bathrooms, tile flooring throughout, high ceilings, dual pane windows, washer/dryer in every unit and individual gas/electric meters. Complex close to public transportation and shopping. This is a superior complex ready for your investment direction. This complex features an incredible sparkling pool and grassy area, assigned parking for each unit and gated. It is an incredible opportunity!
Location
State CA
County Riverside
Area Riv Cty-Palm Springs (92262)
Zoning R2
Interior
Heating Central Forced Air Gas
Cooling Central Forced Air Gas, Heat Pump
Flooring Hardwood, Tile
Laundry Owned
Exterior
Exterior Feature All Auto Sprinklers, Auto Front Sprinklers, Auto Rear Sprinklers, Block Fence, Cable Available, Front Sprinklers, Fully Landscaped, Metal Fence, Satellite Dish
Parking Features Spaces
Roof Type Composition
Building
Story 1
Others
Acceptable Financing Assumable 1st, Cash, Cash to Existing Loan, Cash to New Loan
Space Rent $15,420
Listing Terms Assumable 1st, Cash, Cash to Existing Loan, Cash to New Loan
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Bought with Dana Prophet • Re/Max Big Bear