REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by ALBERT LE • LE INVESTMENT GROUP
$ 8,950,000
Est. payment | /mo
22,200 SqFt
$ 8,950,000
Est. payment | /mo
22,200 SqFt
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Active
Purchase Type For Sale
Square Footage 22,200 sqft
Price per Sqft $403
MLS Listing ID CRIV24204898
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1963
Lot Size 10,890 Sqft
Property Description
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
Location
State CA
County Riverside
Interior
Heating Other
Fireplace No
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
GET MORE INFORMATION
Paul LeJoy
Broker-Owner | Lic# 01467744