73515 Catalina Way Palm Desert, CA 92260
Palma Village Groves NeighborhoodEstimated Value: $640,000 - $780,799
2
Beds
1
Bath
2,076
Sq Ft
$343/Sq Ft
Est. Value
Highlights
- Golf Course Community
- City Lights View
- Traditional Architecture
- Palm Desert High School Rated A
- Property is near a park
- Corner Lot
About This Home
As of March 2023Great Investor Opportunity: CAP RATE 5+ The Annual Income is $61,800 Total monthly rent income $5,125.00 GRM 12.8 / Low Operating Expenses Profitable NOI.
Duplex in downtown Palm Desert Great location in the middle of the San Pablo Redevelopment District. Units are eligible for long-term vacation rental (28 days or more). Newly remodeled September 2022, 100% occupied with new 12-month leases as of October 2022. Each unit has 2 Bedrooms and 1 Bathroom, special features: 1 car garage, shaded private backyards, in-unit laundry, stainless steel appliances, Central air, and Pets Welcomed*.
Directly across from the Community Garden, 2 blocks to a brand-new full-size park with recreational
equipment, picnic tables, open space, restrooms, and more. Less than 2 miles to the shops in El Paso, McCallum Theater, City Civic Center, College
of the Desert, Eisenhower Medical Center, the Living Desert Zoo, and The Palm Desert Mall. Nearby parks are available for sports from soccer to skateboarding. World-Famous Golf, Tennis, and Pickleball tournaments.
Local community facilities include The Palm Desert Aquatic Center, Senior Center, Amphitheater, City Hall, Holocaust, Memorial, Family YMCA, Palm Desert Community Center, and gymnasium. Centrally located just a short drive to Palm Springs, Joshua tree, Big Bear, and Lake Arrowhead.
* Pets are subject to management approval; additional fees will apply.
**Property is unfurnished with exception of previously mentioned appliances
Buyer to perform due diligence with palm desert ( https://www.cityofpalmdesert.org/)
Last Agent to Sell the Property
Broker Groves, Inc License #01196088 Listed on: 10/24/2022
Last Buyer's Agent
Berkshire Hathaway HomeServices California Properties License #01328908
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $10,294
Year Built
- Built in 1960 | Remodeled
Lot Details
- 7,841 Sq Ft Lot
- Desert faces the front of the property
- 1 Common Wall
- Block Wall Fence
- Landscaped
- Corner Lot
- Front Yard Sprinklers
- Sprinklers on Timer
- Back and Front Yard
- Density is 2-5 Units/Acre
Parking
- 2 Car Garage
- 2 Open Parking Spaces
- Parking Available
- Driveway
- Assigned Parking
Property Views
- City Lights
- Woods
- Mountain
- Neighborhood
Home Design
- Duplex
- Traditional Architecture
- Fire Rated Drywall
- Stucco
Interior Spaces
- 2,076 Sq Ft Home
- 1-Story Property
- Ceiling Fan
- Recessed Lighting
- Drapes & Rods
- Sliding Doors
- Insulated Doors
- Great Room
- Family Room
- Living Room
- Laminate Flooring
Kitchen
- Gas Oven
- Self-Cleaning Oven
- Gas Range
- Warming Drawer
- Microwave
- Dishwasher
- Stone Countertops
Bedrooms and Bathrooms
- 2 Bedrooms
- 1 Bathroom
Laundry
- Laundry Room
- Dryer
- Washer
Home Security
- Carbon Monoxide Detectors
- Fire and Smoke Detector
Accessible Home Design
- No Interior Steps
- More Than Two Accessible Exits
- Accessible Parking
Outdoor Features
- Exterior Lighting
- Rain Gutters
Location
- Property is near a park
- Property is near public transit
Utilities
- Central Heating and Cooling System
- Gas Water Heater
Listing and Financial Details
- Tenant pays for cable TV, electricity, gas
- Tax Lot 25
- Tax Tract Number 451
- Assessor Parcel Number 627112008
- $871 per year additional tax assessments
Community Details
Overview
- 2 Units
Recreation
- Golf Course Community
- Park
- Dog Park
- Hiking Trails
- Bike Trail
Building Details
- 2 Leased Units
- Rent Control
- 2 Separate Electric Meters
- 2 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $960
- Insurance Expense $1,591
- Trash Expense $160
- Water Sewer Expense $591
- Operating Expense $3,301
- Gross Income $61,800
- Net Operating Income $58,499
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Oct 24, 2022
Closed on
Mar 20, 2023
Sold by
Prager Richard
Bought by
Catalina Way Llc
Seller's Agent
Tim Austin
Broker Groves, Inc
Buyer's Agent
Mario Acosta
Berkshire Hathaway HomeServices California Properties
List Price
$799,900
Sold Price
$732,450
Premium/Discount to List
-$67,450
-8.43%
Views
103
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$19,750
Avg. Annual Appreciation
0.35%
Original Mortgage
$630,000
Outstanding Balance
$608,899
Interest Rate
5.13%
Mortgage Type
New Conventional
Estimated Equity
$129,253
Purchase Details
Listed on
Oct 24, 2022
Closed on
Mar 2, 2023
Sold by
Goldstein Amy Kurtz
Bought by
Goldstein Eric M
Seller's Agent
Tim Austin
Broker Groves, Inc
Buyer's Agent
Mario Acosta
Berkshire Hathaway HomeServices California Properties
List Price
$799,900
Sold Price
$732,450
Premium/Discount to List
-$67,450
-8.43%
Views
103
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$630,000
Outstanding Balance
$608,899
Interest Rate
5.13%
Mortgage Type
New Conventional
Estimated Equity
$129,253
Purchase Details
Listed on
Oct 24, 2022
Closed on
Feb 23, 2023
Sold by
Catalina Way Llc
Bought by
Goldstein Eric M
Seller's Agent
Tim Austin
Broker Groves, Inc
Buyer's Agent
Mario Acosta
Berkshire Hathaway HomeServices California Properties
List Price
$799,900
Sold Price
$732,450
Premium/Discount to List
-$67,450
-8.43%
Views
103
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$630,000
Outstanding Balance
$608,899
Interest Rate
5.13%
Mortgage Type
New Conventional
Estimated Equity
$129,253
Purchase Details
Closed on
Jun 17, 2022
Sold by
Kusmier Prager Adrienne and Kusmier Richard
Bought by
Prager Richard
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$464,000
Interest Rate
5.25%
Mortgage Type
New Conventional
Purchase Details
Listed on
Jan 3, 2022
Closed on
Jan 11, 2022
Sold by
Henri Rahmon
Bought by
Prager Richard D
Seller's Agent
Anthony Caronna
4th Dimension Real Estate Inc
Buyer's Agent
Anthony Caronna
Anthony Caronna Real Estate
List Price
$600,000
Sold Price
$600,000
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.32%
Original Mortgage
$405,000
Interest Rate
3.22%
Mortgage Type
New Conventional
Purchase Details
Listed on
Jul 6, 2014
Closed on
Jul 31, 2014
Sold by
Fedder Susan
Bought by
Rahmon Henri
Seller's Agent
Tony Burton
Burton Commercial, Inc.
Buyer's Agent
Tony Burton
Burton Commercial, Inc.
List Price
$279,000
Sold Price
$199,000
Premium/Discount to List
-$80,000
-28.67%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
15.88%
Purchase Details
Listed on
Jul 6, 2014
Closed on
Jul 28, 2014
Sold by
Catalina Way Properties Llc
Bought by
Rahmon Henri
Seller's Agent
Tony Burton
Burton Commercial, Inc.
Buyer's Agent
Tony Burton
Burton Commercial, Inc.
List Price
$279,000
Sold Price
$199,000
Premium/Discount to List
-$80,000
-28.67%
Purchase Details
Closed on
Mar 19, 2007
Sold by
Slankard Stephen and Gunn Cynthia
Bought by
Catalina Way Properties
Purchase Details
Closed on
Jul 3, 2006
Sold by
Slankard Stephen
Bought by
Slankard Stephen and Gunn Cynthia
Purchase Details
Closed on
Aug 12, 2004
Sold by
Slankard Stacy
Bought by
Slankard Stephen
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$106,000
Interest Rate
5.92%
Mortgage Type
Commercial
Purchase Details
Closed on
Mar 10, 2003
Sold by
Slankard Stephen and Slankard Stacy
Bought by
Slankard Stacy
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$139,000
Interest Rate
5.73%
Mortgage Type
Commercial
Purchase Details
Closed on
May 17, 2000
Sold by
Stickles Sam and Stickles Vikki
Bought by
Slankard Stephen and Slankard Stacy
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$106,560
Interest Rate
8.67%
Mortgage Type
Commercial
Purchase Details
Closed on
Jan 12, 1995
Sold by
Hud
Bought by
Stickles Sam and Stickles Vikki
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$52,582
Interest Rate
9.2%
Mortgage Type
FHA
Purchase Details
Closed on
Jul 25, 1994
Sold by
Bank Of America Nt & Sa
Bought by
Hud
Purchase Details
Closed on
May 23, 1994
Sold by
Equitable Deed Company
Bought by
Bank Of America Nt & Sa
Similar Homes in Palm Desert, CA
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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 |
|---|---|---|---|
| Catalina Way Llc | -- | Lawyers Title | |
| Goldstein Eric M | -- | Lawyers Title | |
| Goldstein Eric M | $732,500 | Lawyers Title | |
| Prager Richard | -- | Lawyers Title | |
| Prager Richard D | -- | Lawyers Title | |
| Prager Richard D | $600,000 | Lawyers Title | |
| Rahmon Henri | -- | None Available | |
| Rahmon Henri | $199,000 | Fnt | |
| Catalina Way Properties | -- | Fidelity Natl Title Ins Co | |
| Slankard Stephen | -- | None Available | |
| Slankard Stephen | -- | Stewart Title Guaranty | |
| Slankard Stacy | -- | Commonwealth Land Title | |
| Slankard Stephen | $133,500 | First American Title Co | |
| Stickles Sam | $60,500 | First Southwestern Title Co | |
| Hud | -- | Northern Counties Title Ins | |
| Bank Of America Nt & Sa | $108,563 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Goldstein Eric M | $630,000 | |
| Previous Owner | Tim Austin Member Of Catalina | $100,000 | |
| Previous Owner | Prager Richard D | $464,000 | |
| Previous Owner | Prager Richard D | $405,000 | |
| Previous Owner | Rahmon Henri | $246,000 | |
| Previous Owner | Slankard Stephen | $106,000 | |
| Previous Owner | Slankard Stacy | $139,000 | |
| Previous Owner | Slankard Stephen | $106,560 | |
| Previous Owner | Stickles Sam | $51,811 | |
| Previous Owner | Stickles Sam | $52,582 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/22/2023 03/22/23 | Sold | $732,450 | -5.5% | $353 / Sq Ft |
| 03/22/2023 03/22/23 | Sold | $774,900 | 0.0% | $373 / Sq Ft |
| 12/30/2022 12/30/22 | Off Market | $774,900 | -- | -- |
| 12/09/2022 12/09/22 | Pending | -- | -- | -- |
| 11/08/2022 11/08/22 | Price Changed | $774,900 | -3.1% | $373 / Sq Ft |
| 10/24/2022 10/24/22 | For Sale | $799,900 | 0.0% | $385 / Sq Ft |
| 10/03/2022 10/03/22 | For Sale | $799,900 | +33.3% | $385 / Sq Ft |
| 02/01/2022 02/01/22 | Sold | $600,000 | 0.0% | $289 / Sq Ft |
| 01/17/2022 01/17/22 | Pending | -- | -- | -- |
| 01/03/2022 01/03/22 | For Sale | $600,000 | +201.5% | $289 / Sq Ft |
| 08/07/2014 08/07/14 | Sold | $199,000 | -28.7% | $96 / Sq Ft |
| 07/07/2014 07/07/14 | Pending | -- | -- | -- |
| 01/01/2014 01/01/14 | For Sale | $279,000 | -- | $134 / 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 |
|---|---|---|---|---|
| 2023 | $10,294 | $612,000 | $183,600 | $428,400 |
| 2022 | $3,698 | $225,367 | $67,949 | $157,418 |
| 2021 | $3,576 | $220,949 | $66,617 | $154,332 |
| 2020 | $3,524 | $218,684 | $65,934 | $152,750 |
| 2019 | $3,468 | $214,397 | $64,642 | $149,755 |
| 2018 | $3,414 | $210,194 | $63,375 | $146,819 |
| 2017 | $3,353 | $206,074 | $62,133 | $143,941 |
| 2016 | $3,281 | $202,034 | $60,915 | $141,119 |
| 2015 | $3,280 | $199,000 | $60,000 | $139,000 |
| 2014 | $3,514 | $228,000 | $80,000 | $148,000 |
Source: Public Records
Agents Affiliated with this Home
-
Tim Austin
Seller's Agent in 2023
Tim Austin
Broker Groves, Inc
(760) 310-5485
3 in this area
11 Total Sales
-
Mario Acosta
Buyer's Agent in 2023
Mario Acosta
Berkshire Hathaway HomeServices California Properties
(818) 925-4470
2 in this area
78 Total Sales
-
A
Seller's Agent in 2022
Anthony Caronna
4th Dimension Real Estate Inc
-
Tony Burton
T
Seller's Agent in 2014
Tony Burton
Burton Commercial, Inc.
(951) 375-7433
5 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW22228307
APN: 627-112-008
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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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