T
Seller's Agent in 2020
Tony Burton
Burton Commercial, Inc.
(951) 375-7433
2 in this area
5 Total Sales
3778 E Calle de Carlos Palm Springs, CA 92264
Demuth Park NeighborhoodEstimated Value: $560,000 - $1,282,000
1
Bed
2
Baths
3,000
Sq Ft
$272/Sq Ft
Est. Value
Highlights
- Laundry Room
- Palm Springs High School Rated A-
- Bike Trail
About This Home
As of September 2020This offering is a pretty 4Plex, in a quiet well kept neighborhood, near downtown, and within walking distance of the Super Walmart.
This complex consists of two 1 bedroom 1 baths, and two studios. The studios are very large and could be converted to 1 bedroom 1 bath units.
All units have laundry hook ups, tile flooring throughout, and upgraded kitchens.
This complex has a very large 10,000 square foot parcel, which leaves plenty of land area around the units. All units have very large private fenced front and back yards.
Actual rents are low, but all month to month. Each unit is rented at approximately $200 per month under market. Please see RENT ROLL, and, RENT COMPS, attached.
This 4Plex has exceptional returns, and you get a lot of income for the price. These returns are by far, the best returns Palm Springs has seen in years.
At actual rents, we put out $42,360 Annual Gross Income, $34,333 Net Operating Income, a 12.28 Gross Rent Multiplier, a 6.60% Cap Rate, and a 10.10% cash on cash return. There's been nothing close to returns this good in many years. Please see "ACTUAL INCOME + EXPENSES/RETURNS" attached.
AND, when you raise actual rents to market rents (see RENT COMPS attached), we put out $52,440 Annual Gross Income, a $44,413 Net Operating Income, a 9.92 Gross Rent Multiplier, a robust 8.54% Cap Rate, and an eye opening 19.79% Cash on Cash Return!!! Please see "MARKET INCOME + EXPENSES/RETURNS" attached.
Last Agent to Sell the Property
Burton Commercial, Inc. License #01014173 Listed on: 03/19/2020
Last Buyer's Agent
Miguel Briones
License #01705617
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,202
Year Built
- Built in 1975
Lot Details
- 10,019 Sq Ft Lot
- Two or More Common Walls
- Density is 2-5 Units/Acre
Home Design
- 3,000 Sq Ft Home
- Property Attached
Bedrooms and Bathrooms
- 1 Bedroom
- 2 Bathrooms
Laundry
- Laundry Room
- Washer Hookup
Listing and Financial Details
- Tenant pays for electricity, gas
- Tax Lot 17
- Assessor Parcel Number 680043007
Community Details
Overview
- 2 Buildings
- 4 Units
Recreation
- Bike Trail
Building Details
- Rent Control
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 1 Separate Water Meter
- Insurance Expense $1,000
- Trash Expense $840
- Water Sewer Expense $960
- New Taxes Expense $5,227
- Operating Expense $2,800
- Gross Income $52,440
- Net Operating Income $44,413
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
May 25, 2023
Sold by
Figueroa Manuel G
Bought by
Figueroa Family Trust
Current Estimated Value
Purchase Details
Listed on
Mar 19, 2020
Closed on
Sep 14, 2020
Sold by
Figueroa Mayra Luz
Bought by
Figueroa Manuel G
Seller's Agent
Tony Burton
Burton Commercial, Inc.
Buyer's Agent
Miguel Briones
List Price
$520,000
Sold Price
$480,000
Premium/Discount to List
-$40,000
-7.69%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
11.30%
Original Mortgage
$300,000
Interest Rate
2.8%
Mortgage Type
New Conventional
Purchase Details
Listed on
Mar 19, 2020
Closed on
Sep 11, 2020
Sold by
Roibal Joaquin Jose
Bought by
Figueroa Manuel G
Seller's Agent
Tony Burton
Burton Commercial, Inc.
Buyer's Agent
Miguel Briones
List Price
$520,000
Sold Price
$480,000
Premium/Discount to List
-$40,000
-7.69%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
2.8%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jun 6, 2018
Sold by
Salinas Amado L and Salinas Felipa
Bought by
Roibal Joaquin Jose
Purchase Details
Closed on
Apr 30, 2015
Sold by
Salinas Amado L and Salinas Felipa
Bought by
Salinas Amado L and Salinas Felipa
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Figueroa Family Trust | -- | None Listed On Document | |
| Figueroa Manuel G | -- | Fidelity National Title | |
| Figueroa Manuel G | $480,000 | Fidelity National Title Co | |
| Roibal Joaquin Jose | -- | Wfg National Title Company | |
| Salinas Amado L | -- | None Available |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Figueroa Manuel G | $300,000 | |
| Previous Owner | Salinas Amado L | $245,000 | |
| Previous Owner | Salinas Amado L | $126,000 | |
| Previous Owner | Salinas Amado L | $88,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/18/2020 09/18/20 | Sold | $480,000 | -7.7% | $160 / Sq Ft |
| 08/02/2020 08/02/20 | Pending | -- | -- | -- |
| 07/25/2020 07/25/20 | For Sale | $520,000 | 0.0% | $173 / Sq Ft |
| 06/23/2020 06/23/20 | Pending | -- | -- | -- |
| 06/14/2020 06/14/20 | For Sale | $520,000 | 0.0% | $173 / Sq Ft |
| 05/22/2020 05/22/20 | Pending | -- | -- | -- |
| 04/21/2020 04/21/20 | Price Changed | $520,000 | -1.9% | $173 / Sq Ft |
| 03/28/2020 03/28/20 | Price Changed | $530,000 | -1.9% | $177 / Sq Ft |
| 03/23/2020 03/23/20 | For Sale | $540,000 | 0.0% | $180 / Sq Ft |
| 03/20/2020 03/20/20 | Pending | -- | -- | -- |
| 03/19/2020 03/19/20 | For Sale | $540,000 | -- | $180 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $7,202 | $519,566 | $108,242 | $411,324 |
| 2023 | $7,202 | $499,392 | $104,040 | $395,352 |
| 2022 | $7,330 | $489,600 | $102,000 | $387,600 |
| 2021 | $7,199 | $480,000 | $100,000 | $380,000 |
| 2020 | $7,214 | $499,392 | $104,040 | $395,352 |
| 2019 | $7,104 | $489,600 | $102,000 | $387,600 |
| 2018 | $2,901 | $152,167 | $39,584 | $112,583 |
| 2017 | $2,870 | $149,184 | $38,808 | $110,376 |
| 2016 | $2,812 | $146,260 | $38,048 | $108,212 |
| 2015 | $2,644 | $144,066 | $37,478 | $106,588 |
| 2014 | -- | $141,246 | $36,745 | $104,501 |
Source: Public Records
Agents Affiliated with this Home
-
Tony Burton
-
M
Buyer's Agent in 2020
Miguel Briones
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SW20060249
APN: 680-043-007
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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