66365 7TH Street

    Desert Hot Springs, CA 92240
    • $699,000
    • STATUS: Active Under Contract
    • ON SITE: 90 days
    • ID#: 18380246
    Under Contract
    UPDATED: 40 min ago
    $699,000
    • 0
      BEDS
    • 0.45
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,400
      SQFT
    • $129
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1965
    County:

    School Ratings & Info

    Description

    Tremendous opportunity! Looking for a resort property with lots of upside potential? Then no need to look further than this historic inn & Spa, with 4 1bedroom/1bath, 6 single-units, 1 cottage & a 2 bedroom owner's Unit, just waiting for a creative investor to make their entrepreneurial dreams come true.., Recently been renovated and adapted to multifamily. All units have kitchens and made livable by the current owner. A new owner may maintain the building as a motel. Operating as apartments, could achieve over a 10% cash-on-cash Annual return with very conservative realistic underwriting. City may prefer to operate it as motel which shall generate higher revenue. Showing by accepted offer. Property is sold "As Is". Owner makes no warranty of any kinds. Some units needs TLC. All units has its own kitchen, patio. A beautiful pool room, Breeze room, extra bath/kitchen, Giant yard, cottage are bonus of this resort. Please don't go inside property.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-09T21:28:16.243. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.teamforss.com/homes/87326962

    66365 7TH Street Desert Hot Springs, CA 92240

    • Price: $699,000
    • Status: Active Under Contract
    • Updated: 40 min ago
    • ID#: 18380246
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.45
    Acres
    5,400
    SQFT
    $129
    $/SQFT
    1965
    Built
    Neighborhood:
    340 - Desert Hot Springs
    County:
    Riverside
    Area:
    340 - Desert Hot Springs
    Property Description
    Tremendous opportunity! Looking for a resort property with lots of upside potential? Then no need to look further than this historic inn & Spa, with 4 1bedroom/1bath, 6 single-units, 1 cottage & a 2 bedroom owner's Unit, just waiting for a creative investor to make their entrepreneurial dreams come true.., Recently been renovated and adapted to multifamily. All units have kitchens and made livable by the current owner. A new owner may maintain the building as a motel. Operating as apartments, could achieve over a 10% cash-on-cash Annual return with very conservative realistic underwriting. City may prefer to operate it as motel which shall generate higher revenue. Showing by accepted offer. Property is sold "As Is". Owner makes no warranty of any kinds. Some units needs TLC. All units has its own kitchen, patio. A beautiful pool room, Breeze room, extra bath/kitchen, Giant yard, cottage are bonus of this resort. Please don't go inside property.
    Exterior Features

    Lot Size Units Square Feet Parking Features Carport Attached Parking YN Yes Pool Features Community PoolFenced Pool Private YN Yes View Mountain View YN Yes

    Interior Features

    Appliances RefrigeratorGas Water Heater Appliances YN Yes

    Property Features

    Gross Multiplier 7.00 Gross Operating Income 98600.00 Improvements Amount 422480 Land Value 158100 Net Operating Income 74170.00 Number Of Separate Electric Meters 3 Number Of Separate Gas Meters 1 Number Of Units Leased 8 Number With Patio 8 Number With Range 10 Number With Refrigerator 11 Property Condition Fixer Security Features Carbon Monoxide Detector(S)Fire And Smoke Detection System Special Listing Conditions Standard Tenant Pays Cable Tv Total Expenses 24430.00 Zoning Tr

    Listing provided courtesy of Novin Kathy Golshani of Pacific Paradise Realty.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-12-09T21:28:16.243. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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