NOT LISTED FOR SALE
6 Beds
4 Baths
5,969 Sq Ft
0.43 Acres

Last Sold February 02, 2015

Last sale price $719,000 $120 Per Sq Ft

21 Days on Market

Highlights

  • Private Pool
  • Desert View
  • No HOA
  • Palm Springs High School Rated A-
  • Granite Countertops
  • Double Pane Windows

About This Home

As of February 2015

The Desert Park Apartments are a nine unit boutique apartment complex located in Riverside County, California. The city has seen a rapid growth in population over the last 20 years more than doubling in size. The city's resort-like atmosphere provides unmatched access to nearly 200 golf courses throughout the valley, countless outdoor activities and world class resorts and restaurants. These amenities attract a heavy influx of tourism from the major Southern California markets including Los Angeles, San
Diego and the Inland Empire, as well as 30,000 seasonal residents during the winter months.

The property features well-appointed floor plans and competitive amenities. The unit mix consists of six, onebedroom/ one-bathroom floor plans, two, two-bedroom/one-bathroom floor plans and one, three-bedroom/twobathroom floor plans. The building was painted in November of 2014. Other exterior upgrades include all new electrical panels, updated pool to the Virginia Graeme Baker Act and copper plumbing. Construction is wood frame with a stucco exterior. The owner pays for water, trash, sewer and common area electricity and gas.

Last Agent to Sell the Property

Alex Garcia

MARCUS & MILLICHAP License #01072982 Listed on: 11/14/2014

Last Buyer's Agent

Alex Garcia

MARCUS & MILLICHAP License #01072982 Listed on: 11/14/2014

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1966

Lot Details

  • 0.43 Acre Lot
  • Two or More Common Walls
  • Fence is in good condition
  • Density is 11-15 Units/Acre

Parking

  • 13 Parking Spaces

Home Design

  • Property Attached
  • Flat Roof Shape
  • Slab Foundation
  • Frame Construction
  • Rolled or Hot Mop Roof
  • Wood Siding
  • Stucco

Interior Spaces

  • 5,969 Sq Ft Home
  • 1-Story Property
  • Double Pane Windows
  • Desert Views
  • Laundry Room

Kitchen

  • Gas Oven
  • Gas Cooktop
  • Granite Countertops

Flooring

  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Bathrooms

Utilities

  • Central Heating and Cooling System
  • Sewer Assessments

Additional Features

  • Private Pool
  • Suburban Location

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 341
  • Tax Tract Number 6
  • Assessor Parcel Number 501341006

Community Details

Overview

  • No Home Owners Association
  • 9 Units

Amenities

  • Laundry Facilities

Recreation

  • Community Pool

Building Details

  • 10 Separate Electric Meters
  • 10 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $921
  • Insurance Expense $2,475
  • Maintenance Expense $3,250
  • Other Expense $6,840
  • Trash Expense $3,096
  • Water Sewer Expense $1,596
  • New Taxes Expense $10,520
  • Gross Income $6,547
  • Net Operating Income $47,121

Property Details

Home Type

Multi-Family

Year Built

Built in 1966

Lot Details

0

Listing Details

  • CapRate: 6.50
  • Property Attached: Yes
  • View: Yes
  • Water Sewer Expenses: 1596.00
  • Property Type: Residential Income
  • Parcel Number: 501341006
  • Year Built: 1966
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Granite Counters
  • Stories: 1
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet, Tile
  • Appliances: Yes
  • Levels: One
  • Price Per Square Foot: 120.46
  • Window Features: Double Pane Windows

Exterior Features

  • Foundation: Slab
  • View: Desert
  • Fencing: Good Condition
  • Pool Features: Community
  • Pool Private: Yes
  • Roof: Flat, Rolled/Hot Mop
  • Construction Materials: Frame, Stucco, Wood Siding

Garage/Parking

  • Total Parking Spaces: 13.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Oven, Gas Range, Gas Cooktop, Refrigerator
  • Heating Type: Central
  • Laundry Features: Community
  • Sewer: Sewer Assessments
  • Trash Expense: 3096.00
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Community Features: Suburban

Lot Info

  • Lot Features: 11-15 Units/Acre
  • Lot Size Sq Ft: 18596.00
  • Lot Size Acres: 0.4270

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average1 Bed Area: 560
  • Average2 Bed Area: 842
  • Average3 Bed Area: 925
  • Electric Expense: 921.00
  • Gross Income: 6547.00
  • Gross Multiplier: 9.23
  • Gross Scheduled Income: 80064.00
  • Insurance Expense: 2475.00
  • Lot Size Area: 18596.0000 Square Feet
  • Maintenance Expense: 3250.00
  • Net Operating Income: 47121.00
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 9
  • Number With Range: 9
  • Number With Refrigerator: 9
  • Operating Expense: 30586.00
  • Other Expense: 6840.00
  • Rent Control: No

Tax Info

  • New Taxes Expense: 10520.00
  • Tax Lot: 341
  • Tax Tract Number: 006
  • Tax Year: 2014

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/02/2015 02/02/15 Sold $719,000 -0.8% $120 / Sq Ft
12/05/2014 12/05/14 Pending -- -- --
11/14/2014 11/14/14 For Sale $725,000 -- $121 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV14243502

California Regional Multiple Listing Service (CRMLS)

APN: 501-341-006