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$8,950,000
82 Days On Site

74380 El Camino 2
Palm Desert, CA 92260

For Sale|Multi Family|Active
0
Beds
0
Full Baths
0
Partial Baths
22,200
SqFt
$403
/SqFt
1963
Built
County:
Riverside
Listed by ALBERT LE of LE INVESTMENT GROUP [email protected]

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714-883-2943
74380 El Camino 274380 El Camino 274380 El Camino 274380 El Camino 2
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37 condominium units available in a community of 56 total units. HIGHLIGHTS: Boasts an impressive ProForma CAP rate of 14.33%, reflecting potential of operating complex as a short-term Airbnb or hotel project. / This property is grandfathered, allowing existing short-term rentals (STRs) to continue operating despite location or exceeding the 20% cap. / Updated Units - Walking distance from renowned El Paseo Shopping District & fine dining. / The Palm Desert area is a premier year-round destination, attracting travelers from around the world. / Twenty Two (22) condominium units priced at $5,200,000 / $236,364/unit. & Fifteen (15) condominium units priced at $3,750,000 / $250,000/unit. / Units are currently vacant. Property is fully condomapped. Updated Interiors / Updated Exteriors The offering is located at 74380 El Camino, Palm Desert, CA. The property is centrally located in Downtown Palm Desert, just steps from El Paseo Drive, Palm Desert's main shopping street. The area surrounding the property has evolved into an upscale shopping district, featuring 150 boutiques, art galleries and restaurants. El Paseo, with its concentration of luxury retail outlets, its lush landscaping and its proximity to resorts, spas, golf clubs, tennis gardens, fine dining and nightlife entertainment, is often considered the “Beverly Hills” of the desert community. Palm Desert is a city in the county of Riverside, California, niched in the Coachella Valley and located approximately 14 miles East of Palm Springs and 122 miles East of Los Angeles. The population is constantly growing, going from 41,155 to 48,445 inhabitants, according to censuses conducted in 2000 and 2010. The Palm Desert neighborhood is considered upper-middle class, presenting, according to current income analyses, an above average income, 63.8% higher than the neighborhoods in America. 40.1% of the active population is employed in sales and services, from major sales accounts to the fast food service industry while 36.5% holds managerial and office positions.

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Listing Snapshot
Price 
$8,950,000
Days On Site 
82 Days
Bedrooms 
N/A
Inside Area (SqFt) 
22,200 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.25 Acres
Year Built 
1963
MLS® Number 
IV24204898
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
Assessor
Friends & Family
Recent Activity
3 months agoStatus changed to Active
3 months agoListing updated with changes from the MLS®
3 months agoListing first seen on site
General Features
Acres 
0.25
Number Of Stories 
1
Property Sub Type 
Multi Family
Special Circumstances 
Standard
SqFt Total 
22200
Water Source 
Private
Interior Features
Heating 
Central
Laundry Features 
None
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Community Features
Financing Terms Available 
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MLS Area 
699 - Not Defined


This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Neighborhood & Commute
Source: Walkscore
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