73655 Shadow Mountain Drive, Palm Desert, CA 92260 (MLS# 219111667)

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

Overview

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 dis ... (Read more)

Listing Details MLS# 219111667

General Property Information

Total Units: 18
Living Area: 18996
SqFt Source: Appraiser
Fireplace: No
Building # of Stories: 2
Pool: Yes
Lot Size Area: 43560
Lot Size Source: Appraiser
Year Built: 1972
CrossStreet: San Luis Rey

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 Exterior Construction: Stucco; Wood Siding Foundation: Slab Cooling Type: Zoned; Other Pool Location: Community Pool Accessories: Safety Gate Pool Construction: In Ground Heating: Zoned Laundry: Community Security Safety: Community Roofing: Composition; Flat Parking: Assigned; Community Structure Contingent Upon: Appraisal; Inspection; Loan Approval Land Lease Type: Fee Simple

Listing Location and Property Info

Parcel Number: 627311034
Listing Contract Date: 2024-05-17
Original List Price: 4999900
Property Sub Type: Apartment
Street #: 73655
Street Name: Shadow Mountain
Street Suffix: Drive
County: Riverside
State: CA
Postal Code: 92260
MLS Area: 323 - Palm Desert South
Country: US

Listing Info

Number of Buildings: 2
Inclusions: 73665 & 73675 Shadow Mountain Dr are included in sale (APN: 627-311-034 & 327-311-013).
Water Heater: Yes
Laundry: Yes
Laundry Equipment: Hook-Ups

Tax Info

Tax Mello Roos: No
Tax Annual Amount: 40207

Property Info

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

More Information

Status Change Info

StatusChangeDate: 2024-08-04
Purchase Contract Date: 2024-07-30
Close Date: 2024-08-01
Close Price: 3869250

Counts

# Electric Meters: 18
# Gas Meter: 18
# Water Meters: 18

Parking SpacesInformation

Carport Spaces: Yes
Total Garage Spaces: Yes
Parking Total: 4

Unit Information

Number of Units Leased: 18

Income & Expenses

Actual Total Rent $: 276000

Parking Spaces/Information

RV: None

Entry Location

Ground Level w/Steps: Yes

Sewer

In, Connected and Paid: Yes

Documents

2 YR PROFORMA ›

Listing Office: OZA Realty Inc.

Listing Agent: Jose Espinoza

Last Updated: November - 20 - 2024

Information deemed reliable but not guaranteed.