69180 Victoria Dr Cathedral City, CA 92234
Ten-unit property with in-unit laundry, pool, and tennis court.
Lot size:
0.80 AcresProperty Features for 69180 Victoria Dr
General Information
- Property type
- Investment
- Standard status
- Active
- Lot size
- 0.80 Acres
Building Details
- Year built
- 1982
Source:
Elliman
Listing Agent: Albert Catalano
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Fully Leased Ten-Unit Property
This fully leased, ten-unit property features spacious three-bedroom, two-bath residences averaging approximately 1,230 square feet. Each unit is equipped with in-unit laundry, private patios, and covered carport parking. Residents have access to a resort-style pool and tennis court, all situated on a well-maintained 0.8-acre site. The property is strategically located just off the Rancho Mirage border, providing central access to Palm Springs and Palm Desert, in a submarket characterized by increasing rents and enduring demand. Operations are optimized through separately metered utilities, tenant-paid water and trash, and solar-paned common areas. Current collections reach an annualized $250,512 in rent and $254,512 effective gross income, supporting a strong in-place cap rate of 6%. Further value lies in the potential conversion of the existing rear ADU into an income-generating unit and the possibility for redevelopment of the tennis court area, pending buyer verification. This asset is located in Cathedral City, California.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Cathedral City
- County
- Riverside
- State
- California
- Longitude
- -116.4550571
- Latitude
- 33.7985062
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FAQs
What type of property is this?
Apartment building - Ten-unit property with in-unit laundry, pool, and tennis court.
Where is this apartment building located?
The property is located at 69180 Victoria Dr Cathedral City, CA.
What is the asking price?
The asking price for this property is $2,949,000.
What are key features of this property?
This property features: - Strong in-place cap rate of 6% with stable net operating income.; - Fully leased, ten-unit property generating $250,512 annualized rent.; - **Spacious three-bedroom, two-bath residences with in-unit laundry, private patios, and covered carport parking.**
