37439 Van Fleet Street,  Cathedral City CA, 92234 (Residential Income)

325,000 sqft
Status: Active
MLS#: SW17241219
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Last Updated: 11/21/2017 7:55 AM
Description for 37439 Van Fleet Street Cathedral City, CA 92234
This offering is a rare gem. It's located in the foothills of San Jacinto Mountains in the highly sought after Cathedral City Cove. While its currently fully rented, there's also a waiting list of tenants that want to live here due to its highly sought after location, and beautiful private park like setting. These unit's consist of three buildings that consist of one 2 bedroom 1 bath detached house, one 2 bedroom 1 bath unit, one 1 bedroom 1 bath unit, and two studios. All the units have large rooms and upgraded kitchens throughout. Units have carports and private patios. Check out the beautiful tile floors throughout in pictures. Further, this complex has it's own coin operated laundry room, that really generates extra money that's not specified in this listing (call for details). While these units are gorgeous. they also perform. At market rents, we come in at a 8.99 GRM, a 9.81% cap rate, and a robust 22.07% cash on cash return. These market rents are based on rent comps, of a another nearby 5Plex listing, on Bankside, priced $184K more than this listing. Definitely leading the pack in performance in the local area as well as the Valley. Please check out Rent Roll, & Income/Expenses/Returns attached in Supplements. Finally, check out our number of units, rental income, and the price, compared to what's on the market. There's nothing close to this. Beauty and performance. It's a rarity to have both, but we have it here.
Price
$565,000
Riverside
325,000 (approx)
SW17241219
Active
Description
This offering is a rare gem. It's located in the foothills of San Jacinto Mountains in the highly sought after Cathedral City Cove. While its currently fully rented, there's also a waiting list of tenants that want to live here due to its highly sought after location, and beautiful private park like setting. These unit's consist of three buildings that consist of one 2 bedroom 1 bath detached house, one 2 bedroom 1 bath unit, one 1 bedroom 1 bath unit, and two studios. All the units have large rooms and upgraded kitchens throughout. Units have carports and private patios. Check out the beautiful tile floors throughout in pictures. Further, this complex has it's own coin operated laundry room, that really generates extra money that's not specified in this listing (call for details). While these units are gorgeous. they also perform. At market rents, we come in at a 8.99 GRM, a 9.81% cap rate, and a robust 22.07% cash on cash return. These market rents are based on rent comps, of a another nearby 5Plex listing, on Bankside, priced $184K more than this listing. Definitely leading the pack in performance in the local area as well as the Valley. Please check out Rent Roll, & Income/Expenses/Returns attached in Supplements. Finally, check out our number of units, rental income, and the price, compared to what's on the market. There's nothing close to this. Beauty and performance. It's a rarity to have both, but we have it here.
Listing Information
Property Type: Cluster, Other
0.3 Acres 13,012 sq.ft. 325,000 (approx)
$173.85 1980
5 Total
Neighborhood
Room Information
Hookups in Laundry Room
Exterior / Lot Features
None
No Pool
R2
Driving Directions
111 to Van Fleet
Financial Considerations
687232011
Listing Price History

Cathedral City Real Estate

Cathedral City is located in California. Cathedral City, California 92234 has a population of 53,826.

The median household income in Cathedral City, California 92234 is $43,128. The median household income for the surrounding county is $56,592 compared to the national median of $53,482. The median age of people living in Cathedral City 92234 is 34.8 years.

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Courtesy: Tony Burton - Burton Commercial, Inc.
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Information is deemed reliable but is not guaranteed.

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