OUR AGENTS' LISTINGS

2980 E Ranchero Dr
OTHER Palm Springs 92262

$3,150,000 /393750.0
Com-Res Income 21,344 sq. ft.

Main Photo: Property for sale: 2980 E Ranchero Dr in Palm Springs
Photo 1: Property for sale: 2980 E Ranchero Dr in Palm Springs
Photo 2: Property for sale: 2980 E Ranchero Dr in Palm Springs
Photo 3: Property for sale: 2980 E Ranchero Dr in Palm Springs
Photo 4: Property for sale: 2980 E Ranchero Dr in Palm Springs
Photo 5: Property for sale: 2980 E Ranchero Dr in Palm Springs
Photo 6: Property for sale: 2980 E Ranchero Dr in Palm Springs
Status:
Active
Prop. Type:
Com-Res Income
MLS® Num:
220016810
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!
Rental Amount:
15420
Price Per Unit:
393750.0
Total Floor Area:
21,344 sq. ft.
Lot Size:
21,344.4 sq. ft.
County:
Riverside
Market Area:
OTHER
Number of Buildings:
1
Number of Units:
8
Stories:
1 Story
Unit Type:
Apartment
Cap Rate.:
3.5
Gross Multiplier:
13.7
Gross scheduled income:
15420.0
Other income:
0
Operating expense:
42164
Vacancy & Credit Loss:
0.0
Projected Cap Rate.:
4.95
Projected gross scheduled income:
18400
Gross equity:
1900000
Motive / Want:
1031 exchange
Financial Information Source:
Owner
Existing Financing:
Conventional, Fixed Rate
Present Loan:
1200000
E. to Ramon dr.
Short Sale:
No
Listing Type:
Exclusive Agency (A)
Complex Features:
Pool, RV/Boat Parking
Exterior Finish:
All Auto Sprinklers, Auto Front Sprinklers, Auto Rear Sprinklers, Block Fence, Cable Available, Front Sprinklers, Fully Landscaped, Metal Fence, Satellite Dish
Special:
None
Parking:
Spaces
Number of Carports:
0
Total Parking Spaces:
12
Cooling:
Central Forced Air Gas, Heat Pump
Heating:
Central Forced Air Gas
Laundry:
Owned
Construction Material:
Lath/Plaster, Stucco
Roof:
Composition
Floor finish:
Hardwood, Tile
Terms:
Assumable 1st, Cash, Cash to Existing Loan, Cash to New Loan
Number of Units with Dishwashers:
8
Number of Units with Disposals:
8
Number of Units with Garages:
0
Number of Units with Range/Oven:
8
Number of Units with Refrigerators:
8
Zoning:
R2
Parcel Number:
502-252-006
Number of Units in Unit 1:
1
Total Rent for Unit 1:
2500.0
Bedrooms for Unit 1:
3
Bathroom 1:
2.0
Number of Units in Unit 2:
1
Unit 2 Furnished:
0
Total Rent for Unit 2:
1926.0
Bedrooms for Unit 2:
2
Bathroom 2:
1.0
Number of Units in Unit 3:
1
Unit 3 Furnished:
0
Total Rent for Unit 3:
1832.0
Bedrooms for Unit 3:
2
Bathroom 3:
1.0
Number of Units in Unit 4:
1
Unit 4 Furnished:
0
Total Rent for Unit 4:
1786.0
Bedrooms for Unit 4:
2
Bathroom 4:
1.0
Number of Units in Unit 5:
1
Unit 5 Furnished:
0
Total Rent for Unit 5:
1700.0
Bedrooms for Unit 5:
1
Bathroom 5:
1.0
Number of Units in Unit 6:
1
Unit 6 Furnished:
0
Total Rent for Unit 6:
2250.0
Bedrooms for Unit 6:
2
Bathroom 6:
1.0
Number of Units in Unit 7:
1
Unit 7 Furnished:
0
Total Rent for Unit 7:
1500.0
Bedrooms for Unit 7:
2
Bathroom 7:
1.0
Number of Units in Unit 8:
1
Unit 8 Furnished:
0
Total Rent for Unit 8:
1926.0
Bedrooms for Unit 8:
3
Bathroom 8:
2.0
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Data was last updated September 30, 2022 at 11:10 PM (UTC)
Area Statistics
Listings on market:
10
Avg list price:
$2,399,500
Min list price:
$610,000
Max list price:
$4,200,000
Avg days on market:
264
Min days on market:
18
Max days on market:
2,776
Avg price per sq.ft.:
$319.4
These statistics are generated based on the current listing's property type and located in OTHER. Average values are derived using median calculations.
This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego Multiple Listing Service, Inc. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2022 San Diego Multiple Listing Service, Inc.