NOT LISTED FOR SALE
4 Beds
6 Baths
3,605 Sq Ft
0.25 Acre Lot

Sale Details

Date Sold: March 16, 2021

Last sale price $995,000 $276 Per Sq Ft

40 Days on Market

Highlights

  • Golf Course Community
  • Private Yard
  • Central Heating and Cooling System
  • All Bedrooms Downstairs
  • No HOA
  • Laundry Facilities

About This Home

As of March 2021

We are pleased to present 476 E. Chuckwalla Road in the highly sought after city of Palm Springs. The property offers a unique unit mix ranging from (1) 2 Bedroom, (2) 1 Bedroom, and (3) Studio Units. The lot contains a desirable single-story constructed building with an elegant courtyard common area with xeriscape landscaping. Each unit also offers a private backyard for the tenants as well as plenty of onsite parking in the front of the lot. Tenants enjoy a coin-operated onsite laundry facility as well as central heating and A/C. Units have been upgraded with newer flooring, kitchens, and bathrooms. The demand for rentals in Palm Springs has outpaced supply over the years and this contributes to a growing rental market and rental rate. An investor will enjoy a solid current cash flow upon the successful close of escrow and opportunity for significant upside.

Last Agent to Sell the Property

Kristopher German

RE/MAX 2000 REALTY License #01800021 Listed on: 12/30/2020

RE/MAX 2000 REALTY

Last Buyer's Agent

Al Rodriguez

Coldwell Banker Realty License #01196585

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1959

Lot Details

  • 10,890 Sq Ft Lot
  • Two or More Common Walls
  • No Landscaping
  • Private Yard
  • Density is 6-10 Units/Acre

Home Design

  • 3,605 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 4 Bedrooms
  • All Bedrooms Down
  • 6 Bathrooms

Additional Features

  • Leased Washer and Dryer
  • Exterior Lighting
  • Central Heating and Cooling System

Listing and Financial Details

  • Tenant pays for electricity
  • Tax Lot 37
  • Tax Tract Number 37
  • Assessor Parcel Number 507023012

Community Details

Overview

  • No Home Owners Association
  • 6 Units
  • Central Palm Springs Subdivision

Amenities

  • Laundry Facilities

Recreation

  • Golf Course Community

Building Details

  • 6 Leased Units
  • Rent Control
  • 7 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,200
  • Insurance Expense $1,622
  • Maintenance Expense $3,000
  • Other Expense $900
  • Trash Expense $1,728
  • Water Sewer Expense $1,400
  • New Taxes Expense $11,940
  • Operating Expense $21,742
  • Gross Income $73,890
  • Net Operating Income $50,018

Property Details

Home Type

Multi-Family

Year Built

Built in 1959

Lot Details

0.25 Acres

Listing Details

  • CapRate: 5.03
  • Property Attached: Yes
  • Subdivision Name Other: Central Palm Springs (33215)
  • Water Sewer Expenses: 1400.00
  • Zoning: R2
  • Property Type: Residential Income
  • Parcel Number: 507023012
  • Year Built: 1959
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 276.01
  • Room Type: All Bedrooms Down

Exterior Features

  • Pool Private: No

Utilities

  • Utilities: Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Central
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 1728.00
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Golf, Sidewalks, Storm Drains, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre, Lot 10000-19999 Sqft, No Landscaping, Yard
  • Lot Size Sq Ft: 10890.00
  • Lot Size Acres: 0.2500

Rental Info

  • Tenant Pays: Electricity

Multi Family

  • Electric Expense: 1200.00
  • Gross Income: 73890.00
  • Gross Scheduled Income: 73980.00
  • Insurance Expense: 1622.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 900.00
  • Lot Size Area: 10890.0000 Square Feet
  • Maintenance Expense: 3000.00
  • Net Operating Income: 50018.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 6
  • Number Of Units Total: 6
  • Operating Expense: 21742.00
  • Other Expense: 900.00
  • Other Expense Description: Reserves
  • Rent Control: Yes
  • Total Expenses: 21742.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 11940.00
  • Tax Census Tract: 446.02
  • Tax Lot: 37
  • Tax Tract Number: 37

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 30, 2020
Closed on
Feb 11, 2021
Sold by
Bought by
Seller's Agent
Kristopher German
RE/MAX 2000 REALTY
Buyer's Agent
Al Rodriguez
Coldwell Banker Realty
List Price
$995,000
Sold Price
$995,000

Purchase Details

Listed on
May 1, 2020
Closed on
Jun 1, 2020
Sold by
Bought by
Seller's Agent
John Xepoleas
Xepco Properties
Buyer's Agent
Kristopher German
RE/MAX 2000 REALTY
List Price
$899,500
Sold Price
$854,000
Premium/Discount to List
-$45,500
-5.06%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
26.50%
Original Mortgage
$554,000
Interest Rate
3.1%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 11, 2017
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$374,500
Interest Rate
4.03%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 5, 2017
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$374,500
Interest Rate
4.03%
Mortgage Type
Commercial

Purchase Details

Listed on
Oct 2, 2016
Closed on
Dec 30, 2016
Sold by
Bought by
Seller's Agent
Renee Aguilar
Premier Southland Properties
Buyer's Agent
John Xepoleas
Xepco Properties
List Price
$535,000
Sold Price
$535,000

Purchase Details

Listed on
Dec 9, 2015
Closed on
Jan 4, 2016
Sold by
Bought by
Seller's Agent
Brad Schmett Real Estate Group
Keller Williams Luxury Homes
List Price
$479,900
Sold Price
$429,000
Premium/Discount to List
-$50,900
-10.61%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
26.17%
Original Mortgage
$228,500
Interest Rate
3.94%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 10, 2004
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$357,000
Interest Rate
5.57%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 25, 2003
Sold by
Bought by

Purchase Details

Closed on
Aug 8, 2002
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$265,000
Interest Rate
8.87%
Mortgage Type
Commercial

Purchase Details

Closed on
May 1, 2001
Sold by
Bought by

Purchase Details

Closed on
Mar 12, 2001
Sold by
Bought by

Purchase Details

Closed on
Oct 1, 1998
Sold by
Bought by

Purchase Details

Closed on
Aug 21, 1998
Sold by
Bought by

Purchase Details

Closed on
Feb 17, 1997
Sold by
Bought by
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$995,000 Fidelity Title Company
$854,000 Lawyers Title Company
-- None Available
-- None Available
-- Landwood Title Company
$535,000 Fidelity National Title Co
$429,000 Fidelity National Title Co
-- Chicago Title Co
-- Chicago Title Co
-- --
$295,000 Chicago Title Co
-- --
-- Orange Coast Title
$110,000 Lawyers Title Company
$114,348 --
$100,000 Commonwealth Land Title Co
-- Commonwealth Land Title Co
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Previous Owner $554,000
Previous Owner $374,500
Previous Owner $228,500
Previous Owner $357,000
Previous Owner $265,000
Previous Owner $60,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
03/16/2021 03/16/21 Sold $995,000 0.0% $276 / Sq Ft
12/30/2020 12/30/20 For Sale $995,000 +16.5% $276 / Sq Ft
07/21/2020 07/21/20 Sold $854,000 -5.1% $237 / Sq Ft View Prior Sale
05/26/2020 05/26/20 Pending -- -- --
05/01/2020 05/01/20 For Sale $899,500 +68.1% $250 / Sq Ft
01/13/2017 01/13/17 Sold $535,000 0.0% -- View Prior Sale
12/08/2016 12/08/16 Pending -- -- --
10/02/2016 10/02/16 For Sale $535,000 +24.7% --
02/01/2016 02/01/16 Sold $429,000 -10.6% $125 / Sq Ft View Prior Sale
01/26/2016 01/26/16 Pending -- -- --
12/09/2015 12/09/15 For Sale $479,900 -- $140 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2026 $14,228 $1,098,557 $198,733 $899,824
2025 $14,572 $1,077,018 $194,837 $882,181
2023 $14,572 $1,035,198 $187,272 $847,926
2022 $14,839 $1,014,900 $183,600 $831,300
2021 $12,748 $854,000 $170,000 $684,000
2020 $9,073 $590,633 $113,548 $477,085
2019 $8,942 $579,053 $111,322 $467,731
2018 $8,802 $567,700 $109,140 $458,560
2017 $7,204 $437,580 $86,700 $350,880
2016 $6,175 $361,375 $64,918 $296,457
2015 $5,861 $355,949 $63,944 $292,005
2014 $5,658 $348,979 $62,693 $286,286
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV20263454

California Regional Multiple Listing Service (CRMLS)

APN: 507-023-012

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