NOT LISTED FOR SALE

68085 Tortuga Rd Cathedral City, CA 92234

Panorama Neighborhood

Estimated Value: $295,000 - $508,000

4 Beds
2 Baths
1,650 Sq Ft
$260/Sq Ft Est. Value

Last Sold December 15, 2014

Last sale price $220,000 $133 Per Sq Ft

Est. 95% increase in value since last sale

Current estimated payment $2,738/month

56 Days on Market

Highlights

  • Contemporary Architecture
  • Concrete Porch or Patio
  • 1-Story Property
  • 1 Fireplace
  • Ceramic Tile Flooring
  • Central Heating and Cooling System

About This Home

As of December 2014

Two separate buildings each with 2 br and 1 bath. Great investment opportunity in Panorama. Prime location. Concrete block construction. One garage building with 2 spaces. Identical set-up next door. Buy both and get four buildings each with 2 br/2ba, two garage buildings with 2 cars each. Offer contingent on inspection by buyer after seller's acceptance of offer. Do not disturb tenants.

Last Agent to Sell the Property

William Cochran

Berkshire Hathaway HomeServices California Properties License #01403175 Listed on: 07/24/2014

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,786

Year Built

  • Built in 1962

Lot Details

  • 7,841

Parking

  • 2 Car Garage

Home Design

  • Contemporary Architecture
  • Slab Foundation

Interior Spaces

  • 1,650 Sq Ft Home
  • 1-Story Property
  • 1 Fireplace
  • Ceramic Tile Flooring

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Bathrooms
  • Shower Only in Secondary Bathroom

Utilities

  • Central Heating and Cooling System
  • Water Heater

Additional Features

  • Concrete Porch or Patio
  • 7,841 Sq Ft Lot

Listing and Financial Details

  • Tenant pays for electricity
  • The owner pays for water

Community Details

Overview

  • 2 Buildings
  • 2 Units
  • Panorama Subdivision

Building Details

  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • Insurance Expense $1,100
  • Gross Income $19,800
  • Net Operating Income $16,712

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,786

Year Built

Built in 1962

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: One
  • Price Per Unit: 124950.00
  • Builders Tract Code: 7260
  • Building Style: Contemporary
  • List Price per Sq Ft: 151.45
  • Lp Sp Ratio: 0.8804
  • Year Built: 1962
  • ADA Compliant: Yes
  • Internal Listing I D: 20190522223057522343000000
  • Listing I D: 14779929
  • Listing Office Address: 2905 Tahquitz Canyon Way, Palm Springs, CA 92262
  • Listing Office Fax: (760) 322-5083
  • List Office Board Code: California Desert Association of Realtors
  • Land Type: Fee
  • Subdivision: Panorama
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 1

Interior Features

  • Number of Ranges: 2
  • Flooring: Ceramic Tile
  • Total Bedrooms: 4
  • Bathroom Features: Shower Stall
  • Total Bathrooms: 2.00
  • Estimated Sq Ft: 1650.00

Exterior Features

  • Foundation: Slab
  • Patio: Concrete Slab
  • Numberof Patios: 2
  • Paved: Yes

Garage/Parking

  • Parking Info Total Covered Spaces: 2.00
  • Parking Info Total Garage Spaces: 2.00
  • Parking Info Total Parking Spaces: 2.00

Utilities

  • Number Electric Meters: 2
  • Cooling Type: Central Air
  • Heating: Central
  • Sewer: In, Connected and Paid
  • Number Gas Meter: 2
  • Water Heater: Yes
  • Laundry Type: Yes

Lot Info

  • Lot Size: 7841.00

Rental Info

  • Lease Per Month Year: Year
  • Owner Pays: Water
  • Tenant Pays: Electricity
  • Land Lease Type: Fee Simple

Multi Family

  • Total Fireplaces: 1
  • Total Units: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 24, 2014
Closed on
Dec 3, 2014
Sold by
Mercier James E
Bought by
Castaned Ruben and Aguilar Laura
Seller's Agent
William Cochran
Berkshire Hathaway HomeServices California Properties
List Price
$249,900
Sold Price
$220,000
Premium/Discount to List
-$29,900
-11.96%
Current Estimated Value
$429,303

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$209,303
Avg. Annual Appreciation
6.45%
Original Mortgage
$165,000
Interest Rate
3.95%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Sep 25, 2002
Sold by
Gershenson Mark D and Gershenson Elaine M
Bought by
Mercier James E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$98,438
Interest Rate
6.22%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 21, 1999
Sold by
Evans Richard
Bought by
Gershenson Mark D and Gershenson Elaine M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$85,500
Interest Rate
7.56%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 11, 1998
Sold by
Pontrelli John Sandy
Bought by
Desselle Kelly Ann

Purchase Details

Closed on
Oct 27, 1998
Sold by
Desselle Kelly
Bought by
Evans Dr Richard
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Castaned Ruben $220,000 Equity Title
Mercier James E $131,500 Old Republic Title Company
Gershenson Mark D $95,000 First American Title Co
Desselle Kelly Ann -- First American Title Co
Evans Dr Richard -- First American Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Castaneda Ruben $161,000
Closed Castaned Ruben $165,000
Previous Owner Mercier James E $98,438
Previous Owner Gershenson Mark D $85,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/15/2014 12/15/14 Sold $220,000 -12.0% $133 / Sq Ft
09/18/2014 09/18/14 Pending -- -- --
07/24/2014 07/24/14 For Sale $249,900 -- $151 / Sq Ft
Source: California Desert Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

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 $4,786 $264,399 $66,096 $198,303
2023 $4,786 $254,133 $63,530 $190,603
2022 $4,562 $249,151 $62,285 $186,866
2021 $4,388 $244,266 $61,064 $183,202
2020 $4,173 $241,762 $60,438 $181,324
2019 $4,074 $237,022 $59,253 $177,769
2018 $4,028 $232,376 $58,093 $174,283
2017 $3,948 $227,820 $56,954 $170,866
2016 $3,845 $223,354 $55,838 $167,516
2015 $3,723 $220,000 $55,000 $165,000
2014 $2,765 $132,000 $32,000 $100,000
Source: Public Records

Agents Affiliated with this Home

  • W

    Seller's Agent in 2014

    William Cochran

    Berkshire Hathaway HomeServices California Properties

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Map

Source: California Desert Association of REALTORS®

MLS Number: 14779929

California Desert Association of REALTORS®

APN: 675-252-002

California Riverside County Cathedral City 92234 Panorama

68085 Tortuga Rd, Cathedral City, CA

This home is located at 68085 Tortuga Rd, Cathedral City, CA 92234 since 24 July 2014 and is currently estimated at $429,303, approximately $260 per square foot. This property was built in 1962. 68085 Tortuga Rd is a home located in Riverside County with nearby schools including Landau Elementary School, James Workman Middle School, and Rancho Mirage High.

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.

California Desert Association of REALTORS® IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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