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Listed by ALBERT LE • LE INVESTMENT GROUP
$ 6,845,000
Est. payment /mo
Active
74380 El Camino Palm Desert, CA 92260
22,200 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Active
Purchase Type For Sale
Square Footage 22,200 sqft
Price per Sqft $308
MLS Listing ID CRIV24204898
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1963
Lot Size 10,890 Sqft
Property Sub-Type Comm Ind For Sale
Property Description
- $2,105,000 PRICE REDUCTION!- - Package deal - Condominium units are priced well below market @ just $185,000/unit. Representing $65,000 upside potential per unit or $2,405,000! - - Seller willing to sell units individually / ProForma CAP rate of 14.35%, Long-terms, short-term Airbnb or hotel project. Current CAP 6.48% - - This property is grandfathered, allowing existing short-term rentals (STRs) to continue operating despite location or exceeding the 20% cap. - - Active individual condos in the same community are currently listed between $235,000 - $250,000 per unit. - - Most recent closed condo in same community sold for $250,000 individual sale. Tremendous upside selling individually. - - Updated Interiors / Updated Exteriors / 15-Units have high-end updates & 22-units are good condition with standard updates. Fully condo-mapped.- 37-condominium package deal. Property is strategically positioned just steps from El Paseo Drive, Palm Desert’s premier shopping and dining district, this property offers unmatched convenience and luxury. El Paseo is home to over 150 boutiques, art galleries, and fine dining establishments, making it the "Beverly Hills of the Desert." Palm Desert is a thriving city in Riverside County, located 14 miles east of Palm Springs and 122 miles east of L
Location
State CA
County Riverside
Interior
Heating Other
Fireplace No
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