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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
Listing Office: OZA Realty Inc.
Listing Agent: Jose Espinoza
Last Updated: November - 20 - 2024
Information deemed reliable but not guaranteed.

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Hi, I'm Darlene Harwick and I provide real estate service to buyers and sellers in the Palm Springs area.

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