Property Detail
Description
This fully leased, ten-unit property features spacious three-bedroom, two-bath residences averaging approximately 1,230 square feet--each equipped with in-unit laundry, private patios, and covered carport parking. Residents enjoy a premier amenity package, including a resort-style pool and tennis court, all on a well-maintained 0.8-acre site.Strategically located just off the Rancho Mirage border, the property delivers central access to Palm Springs and Palm Desert, in a submarket characterized by increasing rents and enduring demand. Operations are optimized through separately metered utilities, tenant-paid water and trash, and solar-paned common areas, resulting in stable net operating income and low management intensity. Current collections reach an annualized $250,512 in rent and $254,512 effective gross income, supporting a strong in-place cap rate of 5.75% at the offering price of $3,295,000.Further value lies in the potential conversion of the existing rear ADU into an income-generating unit and the possibility for redevelopment of the tennis court area, pending buyer verification. This asset represents a rare blend of immediate yield and development upside--an attractive proposition for institutional and private investors seeking both stable returns and long-range growth in one of Southern California's most resilient rental markets.
Map Location
Listing provided courtesy of Albert Catalano of Century 21 Affiliated Fine Homes & Estates. Last updated 2026-02-02 09:40:01.000000. Listing information © 2026 CRMLS.
John Collins
DRE# 01948188
888 Prospect St. Suite 140
La Jolla, CA 92037
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858.252.0200
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Address
888 Prospect St. Suite 140 La Jolla CA 92037
Coldwell Banker Realty, CalBRE# 00616212
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