73655 Shadow Mountain Drive, Palm Desert, CA 92260
$3,869,250
Property Type:
Residential Income
Bedrooms:
24
Square Footage:
18,996
Status:
Closed
Current Price:
$3,869,250
List Date:
5/17/2024
Last Modified:
11/20/2024
Description
Great Investment Opportunity in Palm Desert. Introducing a rare investment opportunity located in the heart of Palm Desert at the southwest corner of Shadow Mountain Drive and San Luis Rey. This offering includes two adjacent buildings at 73665 and 73675 Shadow Mountain Dr., both operated as a single business entity known as Yum Yum Tree Apartments. The property spans 43,560 square feet of land with a total building size of 18,996 square feet. Built in 1972 and 1974, the property comprises 18 units in total, featuring 12 one-bedroom units and 6 two-bedroom units. The exterior construction is a combination of frame and stucco with a shingle mansard roof facade. The beautifully landscaped grounds include a gated pool at the larger complex. The 73665 building offers carport, surface parking, and garage options, while the 73675 building features detached single car garages. This property is ideally situated in a prime residential community, just one block south of the bustling shopping district known as El Paseo and near the regional mall and prime restaurants. These types of investment opportunities are ultra-rare and highly sought after. Don't miss out on this exceptional offering. For further information, please call. Note: 2yr ProForma attached to this listing.
More Information MLS# 219111667
Listing, Location and Property Info
Entry Date: 2024-05-17
Land Type: Fee
General Property Information
Total Units: 18
SqFt Source: Appraiser
Fireplace: No
Building # of Stories: 2
Pool: Yes
Total Bedrooms: 24
Approx SqFt: 18996
Lot Size: 43560
Lot Size Source: Appraiser
Year Built: 1972
Cross Streets: San Luis Rey
Listing Info
Number of Buildings: 2
Water Heater: Yes
Laundry: Yes
Laundry Equipment: Hook-Ups
Inclusions: 73665 & 73675 Shadow Mountain Dr are included in sale (APN: 627-311-034 & 327-311-013).
Tax Info
Tax Mello Roos: No
Annual Taxes: 40207
Property Info
View: Yes
Additional Parcel: Yes
Additional Parcel Numbers: 73665 & 73675 Shadow Mountain Dr are included in sale (APN: 627-311-034 & 327-311-013).
Senior Community: No
Gated Community: Yes
Type of Business: Apartments - Yum Yum Tree Apartments
Counts
# Electric Meters: 18
# Gas Meter: 18
# Water Meters: 18
Income & Expenses
Actual Total Rent $: 276000
Community Features
Community Mailbox: 1
Sale Type
Standard: 1
Road Surface Type
Paved: 1
Listing Terms
Cash: 1
Cash to New Loan: 1
Conventional: 1
Possession
Close Of Escrow: 1
Parking Spaces/Information
RV: None
Total Covered Spaces: 1
Total Uncovered/Assigned Spaces: 1
Lot Description
2 - 4 Lots: 1
Landscaped: 1
Street Public: 1
Lot Location
Near Public Transit: 1
View Type
Mountain(s): 1
Peek-A-Boo: 1
Pool: 1
Other Structural Features
Balcony: 1
Premium Lot: 1
Irrigation
Sprinkler System: 1
Disclosures
Property As Is: 1
Levels
Two: 1
Entry Location
Ground Level - No Steps: 1
Ground Level w/Steps: 1
Exterior Construction
Stucco: 1
Wood Siding: 1
Foundation
Slab: 1
Flooring
Other: 1
Cooling Type
Zoned: 1
Other: 1
Pool Location
Community: 1
Pool Accessories
Safety Gate: 1
Pool Construction
In Ground: 1
Pool Description
Community: 1
Spa Hot Tub Construction
In Ground: 1
Spa Hot Tub Description
Community: 1
Heating
Zoned: 1
Other: 1
Rooms
Other: 1
Laundry
Community: 1
Security Safety
Community: 1
Roofing
Composition: 1
Flat: 1
Sewer
In, Connected and Paid: 1
Parking
Assigned: 1
Community Structure: 1
Contingent Upon
Appraisal: 1
Inspection: 1
Loan Approval: 1
Unit Information
Number of Units Leased: 18
Land Lease Type
Fee Simple: 1
Listing Location and Property Info
APN: 627311034
Status: Closed
Listing Date: 2024-05-17
Original List Price: 4999900
Sold Price: $3,869,250
Current Price: $3,869,250
Property Sub-Type: Apartment
Street #: 73655
Street Name: Shadow Mountain
Street Suffix: Drive
County: Riverside
State: CA
Zip Code: 92260
Area: 323 - Palm Desert South
Country: US
Status Change Info
Status Change Date: 2024-08-04
Pending Date: 2024-07-30
Closed Date: 2024-08-01
Closed Price: 3869250
Parking SpacesInformation
Total Carport Spaces: 1
Total Garage Spaces: 1
Total Parking Spaces: 4
Property Features
Sale Type: Standard
Listing Terms: Cash; Cash to New Loan; Conventional
Possession: Close Of Escrow
Lot Description: 2 - 4 Lots; Landscaped; Street Public
Lot Location: Near Public Transit
View Type: Mountain(s); Peek-A-Boo; Pool
Other Structural Features: Balcony; Premium Lot
Irrigation: Sprinkler System
Disclosures: Property As Is
Community Features: Community Mailbox
Levels: Two
Entry Location: Ground Level - No Steps; Ground Level w/Steps
Exterior Construction: Stucco; Wood Siding
Foundation: Slab
Flooring: Other
Cooling Type: Zoned; Other
Pool Location: Community
Pool Accessories: Safety Gate
Pool Construction: In Ground
Pool Description: Community
Spa Hot Tub Construction: In Ground
Spa Hot Tub Description: Community
Heating: Zoned; Other
Rooms: Other
Laundry: Community
Security Safety: Community
Roofing: Composition; Flat
Sewer: In, Connected and Paid
Parking: Assigned; Community Structure
Road Surface Type: Paved
Contingent Upon: Appraisal; Inspection; Loan Approval
Land Lease Type: Fee Simple
Documents
Listing Office:
OZA Realty Inc.
Listing Agent:
Jose Espinoza
Last Updated: November - 20 - 2024
Information deemed reliable but not guaranteed.
2 YR PROFORMA ›