66365 7TH Street

    Desert Hot Springs, CA 92240
    • $699,000
    • STATUS: Active Under Contract
    • ON SITE: 95 days
    • ID#: 18380246
    Under Contract
    UPDATED: 60 min ago
    $699,000
    • 0
      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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    Based on information from CARETS as of 2018-12-14T09:43:53.193. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Licensed in the State of California, USA.
    www.scvnest.com/homes/87326532

    66365 7TH Street Desert Hot Springs, CA 92240

    • Price: $699,000
    • Status: Active Under Contract
    • Updated: 60 min ago
    • ID#: 18380246
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.45
    Acres
    5,400
    SQFT
    $129
    $/SQFT
    1965
    Built
    Neighborhood:
    Desert Hot Springs (340)
    County:
    Riverside
    Area:
    Desert Hot Springs (340)
    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 Structure Style Adobe Number Patio 8 Parking Spaces Total 12 Parking Type Carport Attached Patio Features Enclosed Pool Descriptions Community PoolFenced View Mountain View

    Interior Features

    Appliances Refrigerator Cooking Appliances Range Cooling Type Window Unit(S) Heating Type Wall Heater Number Range 10 Number Refrigerator 11 Total Floors 2 Unit Furnished01 Unfurnished Unit Furnished02 Unfurnished Unit Furnished03 Unfurnished Unit Furnished04 Unfurnished Unit Furnished05 Unfurnished Unit Furnished06 Unfurnished Unit Furnished07 Unfurnished Unit Furnished08 Unfurnished Unit Furnished09 Unfurnished Unit Furnished10 Unfurnished Unit Furnished11 Unfurnished Unit Furnished12 Partially Unit Furnished13 Partially Unit Number Of Bath01 1.0 Unit Number Of Bath02 1.0 Unit Number Of Bath03 1.0 Unit Number Of Bath04 1.0 Unit Number Of Bath05 1.0 Unit Number Of Bath06 1.0 Unit Number Of Bath07 1.0 Unit Number Of Bath08 1.0 Unit Number Of Bath09 1.0 Unit Number Of Bath10 1.0 Unit Number Of Bath11 1.0 Unit Number Of Bed01 0 Unit Number Of Bed02 0 Unit Number Of Bed03 0 Unit Number Of Bed04 0 Unit Number Of Bed05 0 Unit Number Of Bed06 0 Unit Number Of Bed07 1 Unit Number Of Bed08 1 Unit Number Of Bed09 1 Unit Number Of Bed10 1 Unit Number Of Bed11 2 Water Heater Features Gas

    Property Features

    Adjusted Gross Income 99700.00 Assessed Improvement Value 422480.00 Assessed Land Value 158100.00 Country United States Of America Expense Total Annual 24430.00 Gross Operating Income 98600.00 Gross Rent Multiplier 7.00 Hoa YN N Legal Disclosures Take Property As Is Lot Size Source Vendor Enhanced Net Operating Income 74170.00 Number Electric Meters 3 Number Gas Meters 1 Number Leased 8 Number Of Buildings 2 Possession Close of Escrow Private Transfer Taxes YN N Property Condition Fixer Security Safety Carbon Monoxide Detector(S)Fire And Smoke Detection System Special Conditions Standard Sale Square Footage Source Other Television Services Cable Tv Tenant Pays Cable Tv Unit Monthly Rent01 700.00 Unit Monthly Rent02 700.00 Unit Monthly Rent03 600.00 Unit Monthly Rent04 700.00 Unit Monthly Rent05 700.00 Unit Monthly Rent06 730.00 Unit Monthly Rent07 700.00 Unit Monthly Rent08 800.00 Unit Monthly Rent09 800.00 Unit Monthly Rent10 750.00 Unit Monthly Rent11 970.00 Unit Projected Total Monthly Rent01 700.00 Unit Projected Total Monthly Rent02 700.00 Unit Projected Total Monthly Rent03 700.00 Unit Projected Total Monthly Rent04 700.00 Unit Projected Total Monthly Rent05 700.00 Unit Projected Total Monthly Rent06 730.00 Unit Projected Total Monthly Rent07 750.00 Unit Projected Total Monthly Rent08 850.00 Unit Projected Total Monthly Rent09 850.00 Unit Projected Total Monthly Rent10 750.00 Unit Projected Total Monthly Rent11 970.00 Unit Total Monthly Rent01 700.00 Unit Total Monthly Rent02 700.00 Unit Total Monthly Rent03 600.00 Unit Total Monthly Rent04 500.00 Unit Total Monthly Rent05 700.00 Unit Total Monthly Rent06 730.00 Unit Total Monthly Rent07 600.00 Unit Total Monthly Rent08 0.00 Unit Total Monthly Rent09 0.00 Unit Total Monthly Rent10 700.00 Unit Total Monthly Rent11 970.00 Unit Type01 1 Unit Type02 2 Unit Type03 3 Unit Type04 4 Unit Type05 5 Units Total In Complex 11 Zoning Tr

    Listing provided courtesy of Novin Kathy Golshani DRE#01273636 of Pacific Paradise Realty.


    Based on information from CARETS as of 2018-12-14T09:43:53.193. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

    Licensed in the State of California, USA.
     
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