Refurbished Residential Income
For Sale
$379,000
38131 Pigeon Springs Drive, Palm Desert, CA 92260
Manufactured home with mountain outlooks, updated interiors, and ownership of the underlying land in an active 55+ community.
Property Size1,440 SF
Price / SF$263.19
Days on Market47
Property Features for 38131 Pigeon Springs Drive
General Information
Standard status
Active
Size
1,440 SF
Total Parking Spaces
3
Property subtype
Manufactured In Park
Additional Details
Road Access
Yes
Multifamily Units
1
Amenities
free golf
clubhouse
restaurant
pickelball
tennis
pools
exercise room
Bocce ball
library
24-hour security guard
electric fireplace
patio
storage room
Building Details
Buildings
1
Construction
manufactured home
Listing Agency:
Karen Joy Properties
Listed By:
Karen Tabbah · License #00407860
(760) 799-1405
Source:
Tfregroup
Added: Sep 5
Changed: Oct 14
Last Checked: Oct 20 at 8:22PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Karen Joy Properties
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Investment Insights
Based on property information with market context.
This refurbished manufactured home offers 1,440 square feet of living space in Palm Desert Greens Country Club. Interior improvements include laminate flooring, updated bathroom fixtures, ceiling fans, windows, a sliding patio door, window treatments, and an electric fireplace. The kitchen includes a dishwasher, sink, faucet, refrigerator, and water heater. A covered tandem carport accommodates three cars, while an exterior patio-side room provides additional storage. Mountain views are available from the patio, living room, and dining area, with a greenbelt located to the west.
The property is on fee land, so the owner owns the underlying parcel. The 55+ community is security guard-gated and includes an 18-hole executive golf course with free homeowner play. HOA services and amenities include internet, cable, trash pickup, a clubhouse, restaurant, pickleball, tennis, pools, exercise facilities, bocce ball, a library, and organized clubs. The home is near shopping and medical facilities.
The property is on fee land, so the owner owns the underlying parcel. The 55+ community is security guard-gated and includes an 18-hole executive golf course with free homeowner play. HOA services and amenities include internet, cable, trash pickup, a clubhouse, restaurant, pickleball, tennis, pools, exercise facilities, bocce ball, a library, and organized clubs. The home is near shopping and medical facilities.
Key Highlights
- 1,440 SF refurbished manufactured home
- Fee land ownership; buyer owns the underlying parcel
- Mountain views and western greenbelt outlooks
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,309
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$466,180
$466.2K
Cap Rate 7%
$332,986
$333.0K
Cap Rate 9%
$258,989
$259.0K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$43.2K $30.00/SF
− Vacancy
−$821 −$0.57/SF
EGI
$42.4K $29.43/SF
− OpEx
−$19.1K −$13.24/SF
NOI
$23.3K $16.19/SF
Area
Riverside County, CA
Vacancy
1.90%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$466,180
Cap Rate 7%
$332,986
Cap Rate 9%
$258,989
Alternative Uses
Best Use
Apartment 5plus
$333.0K
$291.4K – $388.5K
NOI $23,309 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$431.4K
$377.5K – $503.3K
NOI $30,198 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
70
Businesses Nearby
Explore this area
Business Placement
Demographics for 92260, CA
31,641
Population
21,659
Households
1.5
Avg Household Size
57
Median Age
38%
College-Educated
92%
High-School Grad
31.3 sq mi
ZIP Area
1,011
Density / Sq Mi
$72,252
Median Household Income
$41,810
Median Earnings
$1,654
Median Rent
$463,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - Manufactured home with mountain outlooks, updated interiors, and ownership of the underlying land in an active 55+ community.
Where is this residential income property located?
The property is located at 38131 Pigeon Springs Drive Palm Desert, CA.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: 1,440 SF refurbished manufactured home; Fee land ownership; buyer owns the underlying parcel; Mountain views and western greenbelt outlooks
