Palm Desert, CA 92260,74380 El Camino #2
Palm Desert, CA 92260,74380 El Camino #2
Palm Desert, CA 92260,74380 El Camino #2
Palm Desert, CA 92260,74380 El Camino #2
Palm Desert, CA 92260,74380 El Camino #2
Palm Desert, CA 92260,74380 El Camino #2
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$ 6,845,000
Est. payment | /mo

0.25 Acres Lot


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$ 6,845,000
Est. payment | /mo
Save

0.25 Acres Lot

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Pending

Purchase Type For Sale

MLS Listing ID IV24204898

HOA Y/N No

Year Built 1963

Lot Size 10,890 Sqft

Property Sub-Type Multi Family

Property Description

- $2,105,000 PRICE REDUCTION!-
- Package deal - Condominium units are priced well below market @ just $185,000/unit. Representing $65,000 upside potential per unit or $2,405,000! -
- Seller willing to sell units individually / ProForma CAP rate of 14.35%, Long-terms, short-term Airbnb or hotel project. Current CAP 6.48% -
- This property is grandfathered, allowing existing short-term rentals (STRs) to continue operating despite location or exceeding the 20% cap. -
- Active individual condos in the same community are currently listed between $235,000 - $250,000 per unit. -
- Most recent closed condo in same community sold for $250,000 individual sale. Tremendous upside selling individually. -
- Updated Interiors / Updated Exteriors / 15-Units have high-end updates & 22-units are good condition with standard updates. Fully condo-mapped.-

37-condominium package deal. Property is strategically positioned just steps from El Paseo Drive, Palm Desert's premier shopping and dining district, this property offers unmatched convenience and luxury. El Paseo is home to over 150 boutiques, art galleries, and fine dining establishments, making it the "Beverly Hills of the Desert." Palm Desert is a thriving city in Riverside County, located 14 miles east of Palm Springs and 122 miles east of Los Angeles. The population has experienced steady growth, increasing from 41,155 in 2000 to 48,445 in 2010, reflecting the area's rising demand.

Known for its affluent community, Palm Desert has an average income 63.8% higher than other U.S. neighborhoods. The workforce is diverse, with 40.1% employed in sales and services and 36.5% in managerial and office positions. With its prime location, strong rental demand, and high-income potential, this property is a rare find in the Palm Desert market. Don't miss out on this exceptional investment opportunity—contact us today!

Location

State CA

County Riverside

Area 699 - Not Defined

Interior

Heating Central

Fireplace No

Laundry None

Building

Lot Description 36-40 Units/Acre

Story 1

Water Private

Others

Tax ID 625340002

Acceptable Financing Submit

Listing Terms Submit

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by ALBERT LE • LE INVESTMENT GROUP • 909-256-7889

REVIEWS

Ximena Ames Nugent

Professional & Paid Attention to My Needs

I am very impressed with the professionalism of this team! They worked very hard with terrific attention to details and respect for my needs. I would highly recommend Ruby and Patrick as they are knowledgeable, and dedicated to their clients.

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Exceptional Realtors

There are a number of solid and competent realtors that can help you navigate the paperwork needed to either close a sale or negotiate a purchase of a home. The number of exceptional realtors who can develop a effective markeketing plan based on research, investment and strength of intellect and character are few and hard to find. Patrick and Ruby Raymond are those exceptional realtors. In addition, the other members of their team were each exceptional and epitomize professionalism. When Patrick first approached me, he stated a price than our home would generate that exceeded what I thought the market would bear. Then he proceeded to explain how this sale price could happen. First, he knew our neighborhood and its strength and weaknesses regarding its saleability. Next, he revealed the investments he had made to obtain a data base of pre-qualified buyers from throughout our state and around the country. Finally, Patrick and Ruby provided an in depth strategy on how to stage our home, establish timelines, and present tools they would use to sell the home. Some of their strategies were known but not always followed by other realtors, and additional strategies were proprietary to the Raymond team. The result was that we received three offers each either meeting of exceeding what Patrick and Ruby first told us our home could sell for. Throughout the process they both remained calm and focused even when little hickups occurred. It was a learning experience for us when we had questions about staging the home I found out later from the buyers how much Rubys’ strategies influenced their purchasing decision. Needless to say it is without any reservations that we would recommend the Raymond team whether you are purchasing or selling a home. P.S. They even gave us great input on strategies on how to buy our current home in a very competitive market.

Heather Squire

Transparent, Reliable & Honest

Ruby was extremely helpful, open, transparent, and reliable through the whole process, she really cared about us, understood our needs. Ruby was always available to answer our questions. Ruby really is the best! She was thorough and professional and great to work with. She scheduled the inspection and pest company, made it so easy to get everything done. She was honest and forthright- no games. Would use her again tomorrow if we were to buy or sell in the area.

How Does The Raymond Team Deliver Exceptional Real Estate Service?

Expert Guidance

We educate you on the market and guide you to the best best decision about your move.

Proven Systems

Over 23 years of real estate experience  has helped us perfect our results-driven buying and selling systems.

Results Driven

We listen, we communicate, and we track every step of the process to ensure a seamleass transaction.

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