66365 7th Street

    Desert Hot Springs, CA 92240
    • $699,000
    • STATUS: Active Under Contract
    • ON SITE: 130 days
    • MLS #: 18380246
    Under Contract
    $699,000
    • 12
      BEDS
    • 0.45
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,400
      SQFT
    • $129
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1965
    County:

    School Ratings & Info

    Description

    Tremendous opportunity! Looking for a resort property with lots of upside potential? Then no need to look further than this historic inn & Spa, with 4 1bedroom/1bath, 6 single-units, 1 cottage & a 2 bedroom owner's Unit, just waiting for a creative investor to make their entrepreneurial dreams come true.., Recently been renovated and adapted to multifamily. All units have kitchens and made livable by the current owner. A new owner may maintain the building as a motel. Operating as apartments, could achieve over a 10% cash-on-cash Annual return with very conservative realistic underwriting. City may prefer to operate it as motel which shall generate higher revenue. Showing by accepted offer. Property is sold As Is. Owner makes no warranty of any kinds. Some units needs TLC. All units has its own kitchen, patio. A beautiful pool room, Breeze room, extra bath/kitchen, Giant yard, cottage are bonus of this resort. Please don't go inside property.

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    ©2019 California Desert Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Hacienda Group Inc. Based on information from the California Desert Association of Realtors as of 2019-01-17T23:36:35.973. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker of MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listing by the office/agent presenting the information.

    Licensed in the State of California, USA
    www.haciendagroupinc.com/homes/87327012

    66365 7th Street Desert Hot Springs, CA 92240

    • Price: $699,000
    • Status: Active Under Contract
    • MLS #: 18380246
    12
    Beds
    0
    Baths
    0
    ½ Baths
    0.45
    Acres
    5,400
    SQFT
    $129
    $/SQFT
    1965
    Built
    Neighborhood:
    Desert Hot Springs
    County:
    Riverside
    Area:
    Desert Hot Springs
    Property Description
    Tremendous opportunity! Looking for a resort property with lots of upside potential? Then no need to look further than this historic inn & Spa, with 4 1bedroom/1bath, 6 single-units, 1 cottage & a 2 bedroom owner's Unit, just waiting for a creative investor to make their entrepreneurial dreams come true.., Recently been renovated and adapted to multifamily. All units have kitchens and made livable by the current owner. A new owner may maintain the building as a motel. Operating as apartments, could achieve over a 10% cash-on-cash Annual return with very conservative realistic underwriting. City may prefer to operate it as motel which shall generate higher revenue. Showing by accepted offer. Property is sold As Is. Owner makes no warranty of any kinds. Some units needs TLC. All units has its own kitchen, patio. A beautiful pool room, Breeze room, extra bath/kitchen, Giant yard, cottage are bonus of this resort. Please don't go inside property.
    Exterior Features

    Building Style Adobe Carport Or Covered Spaces 0 Pool Yes Pool Location Community Pool Total Other Spaces 0 Total Parking Spaces 12 View Yes View Type Mountain View

    Interior Features

    Avg Sq Ft Studio 0 Avg Sq Ft1 Bedroom 0 Avg Sq Ft2 Bedroom 0 Avg Sq Ft3 Bedroom 0 Bathrooms 12.00 Entry Level 0 Water Heater Features Gas

    Property Features

    Act Total Rent 0.00 Adj Gross Income 99700.00 Annual Gross Rent 0.00 Annual Land Lease Amount 0.00 Disclosures Property As Is Green Year Certified 0 Gross Annual Income 0.00 Gross Operating Inc 98600.00 Gross Schedule Inc 0.00 Lot Size Source (Other) MLS Claw Mls Monthly Gross Income 0.00 Net Operating Inc 74170.00 Number Of Buildings 2 Operating Expenses 0.00 Possession Close Of Escrow Property Condition Fixer Property Subtype Residential Income Realtor Association Palm Springs Assocation Of Realtors Sale Type Standard Sale Security And Safety Fire & Smoke Det Sys Square Footage Source Other Tax Rate 0.00 Tenant Pays For Cable Tv Total Annual Op Exp 24430.00 Total Taxes 0.00 Tv Services Cable

    Listing information © 2019 California Desert Association of Realtors.
    Listing provided courtesy of Novin Kathy Golshani of Pacific Paradise Realty.
    ©2019 California Desert Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Hacienda Group Inc. Based on information from the California Desert Association of Realtors as of 2019-01-17T23:36:35.973. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker of MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listing by the office/agent presenting the information.

    Licensed in the State of California, USA
     
    Hacienda Group Inc
    77935 Calle Tampico # 201
    La Quinta CA, 92253