74443 Driftwood DR Palm Desert, CA 92260
UPDATED:
03/12/2025 10:12 PM
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision El Paseo Village (32310)
MLS Listing ID SW25054919
HOA Y/N No
Year Built 1974
Lot Size 9,147 Sqft
Property Sub-Type Quadruplex
Property Description
This 4Plex consists of four 2 bedrooms, 1 & 1/2 half baths. It further has carport parking, a beautiful pristine pool, and a large pool deck for tenants and guest. The kitchens are upgraded with newer appliances and granite counter tops. This complex further has central heat/air throughout.
All tenancies are month to month and can be brought up to market. There's one vacancy and one unit who's currently a handyman/manager who can be brought up to market rents. PLEASE SEE RENT ROLL ATTACHED IN SUPPLEMENTS PACKAGE.
Since rents are month to month, please check out the market rents you can get in this fine neighborhood. Nearby market rents per rent comps are $2,300 per month. PLEASE SEE RENT COMPS IN SUPPLEMENTS ATTACHED.
At market rents, the complex really performs. It puts out $110,000 in annual gross income, a 9.33 Gross Rent Multiplier, a 9.84% Cap Rate, and a robust 21.95% Cash on Cash Return!! PLEASE SEE THE SUPPLEMENTS ATTACHED FOR DETAILS ON THESE RETURNS!!
And we are priced at a very great buy!! Please see the latest sale comps attached. These sale comps are nearby 4Plexes, in Palm Desert, similar quality/age with similar beds/baths that sold at the following prices:
42662 Clifford Street sold for $1,335,000!!!
42612 634 Clifford Street sold for $1,365,000!!!
FOR DETAILS ON THESE COMPARABLE SALES, PLEASE SEE SUPPLEMENTS ATTACHED.
Seller to pick services. Buyer/Buyer's agent to provide and pay for (email, DocuSign, etc) all TC services, including all documents/paperwork, they require for Buyer and Seller to sign.
Location
State CA
County Riverside
Area 323 - South Palm Desert
Zoning R303M
Interior
Heating None
Fireplace No
Laundry Common Area, Laundry Room
Exterior
Carport Spaces 5
Pool Private
Community Features Foothills, Storm Drain(s), Street Lights
Total Parking Spaces 5
Private Pool Yes
Building
Lot Description 2-5 Units/Acre
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 625143014
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
