NOT LISTED FOR SALE

74380 El Camino Palm Desert, CA 92260

1 Bed
1 Bath
13,750 Sq Ft
436 Sq Ft Lot

Last Sold January 02, 2018

Last sale price $1,418,750 $103 Per Sq Ft

29 Days on Market

Highlights

  • Community Pool
  • Palm Desert High School Rated A
  • Laundry Room

About This Home

As of January 2018

(This portfolio sale includes 22 individual parceled condominium units located in the city of Palm Desert. The Seller is offering a modified net lease guaranteed for 5 years. Please contact Le Investment Group for full details and the complete offering memorandum.) Highlights; Actual CAP Rate of 9.00%, ProForma CAP Rate of 9.16% • ProForma CAP Rate based on 1st Rental Increase. Modified NNN Lease. Highlights Include; • New Five (5) Year Lease Executed at Close of Escrow • Three (3), Five (5) Year Options to Extend • 2% Rental Increases Every Two (2) Years. Minimal Landlord Responsibilities. • Ownership Responsible to Include Property Taxes & Insurance. High Tourism, Downtown Location. Non-Rent Control
Community & Area. High Annual Occupancy Resort, Airbnb, Vacation Rental, & Motel/Hotel Destination. Recent Capital Improvements. • Upgraded Interior & Exterior Units. The offering is located at 74380 El Camino, Palm Desert, CA. The property is centrally located in Downtown Palm Desert, just steps from El Paseo Drive, Palm Desert's main shopping street. The area surrounding the property has evolved into an upscale shopping district, featuring 150 boutiques, art galleries and restaurants. El Paseo, with its concentration of luxury retail outlets, its lush landscaping and its proximity to resorts, spas, golf clubs, tennis gardens, fine dining and nightlife entertainment, is often considered the “Beverly Hills” of the desert community.

Last Agent to Sell the Property

Albert Le

LE INVESTMENT GROUP License #01468313 Listed on: 10/17/2017

Last Buyer's Agent

Albert Le

LE INVESTMENT GROUP License #01468313 Listed on: 10/17/2017

Property Details

Home Type

  • Condominium

Year Built

  • Built in 1963

Lot Details

  • 1 Common Wall
  • Density is 21-25 Units/Acre
  • 625-340-007,625-340-008,625-340-009,625-340-010,625-340-011,625-340-012,625-340-013,625-340-014,625-340-015,625-340-016,625-340-021,625-340-022,625-340-023,625-340-024,625-340-027,625-340-028,625-340-029,625-340-031,625-350-010,625-350-011,625-350-012

Home Design

  • 13,750 Sq Ft Home

Parking

  • Parking Available
  • On-Site Parking

Additional Features

  • 1 Bathroom
  • Laundry Room
  • Exterior Lighting
  • Urban Location

Listing and Financial Details

  • Tax Lot 1
  • Tax Tract Number 4135
  • Assessor Parcel Number 625340006

Community Details

Overview

  • Property has a Home Owners Association
  • 11 Units

Amenities

  • Laundry Facilities

Recreation

  • Community Pool
  • Community Spa

Building Details

  • 1 Separate Electric Meter
  • 1 Separate Gas Meter
  • 1 Separate Water Meter
  • Insurance Expense $2,200
  • New Taxes Expense $37,355
  • Operating Expense $39,555
  • Gross Income $321,552
  • Net Operating Income $281,997

Property Details

Home Type

Condominium

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Property Attached: Yes
  • Subdivision Name Other: International Lodge (32316)
  • Property Sub Type: Condominium
  • Property Type: Residential Income
  • Parcel Number: 625340006
  • Year Built: 1963
  • Special Features: None

Interior Features

  • Common Walls: 1 Common Wall
  • Levels: Two
  • Price Per Square Foot: 103.18

Exterior Features

  • Pool Features: Association
  • Pool Private: No

Garage/Parking

  • Parking: Yes
  • Parking Features: On Site

Utilities

  • Laundry: Yes
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: Yes
  • Amenities: Pool, Spa/Hot Tub
  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Storm Drains, Street Lights, Urban

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 625-340-007,625-340-008,625-340-009,625-340-010,625-340-011,625-340-012,625-340-013,625-340-014,625-340-015,625-340-016,625-340-021,625-340-022,625-340-023,625-340-024,625-340-027,625-340-028,625-340-029,625-340-031,625-350-010,625-350-011,625-350-012
  • Land Lease: No
  • Lot Features: 21-25 Units/Acre
  • Lot Size Sq Ft: 10890.00

Multi Family

  • Gross Income: 321552.00
  • Gross Scheduled Income: 321552.00
  • Insurance Expense: 2200.00
  • Net Operating Income: 281997.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 11
  • Number With Dishwasher: 11
  • Number With Range: 11
  • Number With Refrigerator: 11
  • Operating Expense: 39555.00
  • Rent Control: No
  • Total Expenses: 39555.00

Tax Info

  • New Taxes Expense: 37355.00
  • Tax Lot: 1
  • Tax Tract Number: 4135

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 List to Sale Price per Sq Ft
01/02/2018 01/02/18 Sold $1,418,750 -53.9% $103 / Sq Ft
11/15/2017 11/15/17 Pending -- -- --
10/17/2017 10/17/17 For Sale $3,080,000 -- $224 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Albert Le

    Seller's Agent in 2018

    Albert Le

    LE INVESTMENT GROUP

    (909) 256-7889

    25 Total Sales

    Albert Le
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: IV17237909

California Regional Multiple Listing Service (CRMLS)
California Riverside County Palm Desert 92260

74380 El Camino, Palm Desert, CA

This home is located at 74380 El Camino, Palm Desert, CA 92260 since 17 October 2017. This property was built in 1963. 74380 El Camino is a home located in Riverside County with nearby schools including La Quinta Middle School, Palm Desert High School, and George Washington Charter School.

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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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