74380 El Camino,Palm Desert, CA 92260
Palm Desert, CA 92260
Description
HIGHLIGHTS: Palm Desert opportunity: 38 of 52 condo units, 73% majority ownership of the entire community, in a highly desirable year-round tourism destination. / 38 fully renovated, furnished and turnkey condos in the heart of Palm Desert, with all FF&E included and approximately $50,000 invested per unit. / Strong day-one cash flow with a 9.00% CAP, plus significant upside to a 13.36% proforma CAP and a per unit basis 15%-30% below nearby condo sales. / Renovated interiors and upgraded major common-area infrastructure, with additional aesthetic repositioning upside and multiple exit strategies through / Prime Palm Desert location near El Paseo, with a $237 proforma ADR and significant peak-season upside driven by major events and year-round tourism. / Fully condo-mapped. $575/Unit/Month HOA dues cover water, internet, common area insurance, exterior maintenance, pool & landscaping. The offering consists of 38 of the 52 condominium units (approximately 73% of the entire project) located at 74380 El Camino in Palm Desert, California. This substantial concentration of ownership represents a unique opportunity to acquire a controlling majority of the units within a single project, providing investors with significant scale and the potential to benefit from future improvements and repositioning of the community. The property is centrally located in Downtown Palm Desert, just steps from El Paseo Drive, the city's premier shopping and entertainment destination. The surrounding area has evolved into an upscale district featuring approximately 150 boutiques, art galleries and restaurants. With its concentration of luxury retailers, landscaped streetscape and proximity to world-class resorts, spas, golf courses, tennis facilities, fine dining and nightlife, El Paseo is often referred to as the "Rodeo Drive of the Desert." APNS: 625340002, 625340004, 625340007, 625340008, 625340009, 625340010, 625340011, 625340012, 625340013, 625340014, 625340015, 625340016, 625340017, 625340018, 625340021, 625340022, 625340023, 625340024, 625340025, 625340026, 625340027, 625340028, 625340029, 625340030, 625340031, 625350003, 625350004, 625350005, 625350006, 625350007, 625350009, 625350010, 625350011, 625350012, 625350015, 625350017, 625350021
Details
| MLS # | IV26208044 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1963 |
| Days On Site | 25 |
| Listing Provided By | LE INVESTMENT GROUP | ALBERT LE |
Features
| SQ Feet | 600 |
|---|---|
| Story(s) | 1 |
| Units | 38 |
| Building(s) | 7 |
| Acreage | 0.01 |
| Property View | None |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Central |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Fireplace Yes / No | No |
Exterior
| Lot Features | Sixteen To Twenty Units Acre |
|---|
Parking
| Parking Features | Assigned |
|---|---|
| Garage Yes / No | No |
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Urban |
|---|
Area Information
| State | CA |
|---|---|
| County | Riverside |
| City | Palm Desert |
| Zip Code | 92260 |
| Area | 323 South Palm Desert |
| Community Name | International Lodge (32316) |
| Listing VS Median (in International Lodge (32316)) | |
Price: $7,410,000 low | high Med: $7,410,000 sqft: 600 low | high Med: 600 $ / sqft: $12,350 low | high Med: $12,350 On site: 25 low | high Med: 25 | |
Market Activity 92260
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Learn More About This Property
| State | CA |
|---|---|
| County | Riverside |
| City | Palm Desert |
| Zip Code | 92260 |
| Area | 323 South Palm Desert |
| Community Name | International Lodge (32316) |
| Listing VS Median (in International Lodge (32316)) | |
Price: $7,410,000 low | high Med: $7,410,000 sqft: 600 low | high Med: 600 $ / sqft: $12,350 low | high Med: $12,350 On site: 25 low | high Med: 25 | |