66949 Terrace Way, Desert Hot Springs, CA 92240

Property Description

What more can you ask for! In the best area, the owner has invested over $60K in improvements & maintenance to make a showplace. 3 tenants are long term, all 4 are on leases. It offers a Cap Rate of 7.7 and Cash-On-Cash returns of 12.3%; as is, at full price, needing nothing! In a very desirable, solid working class neighborhood, rental demand is especially strong, as the units available is limited but the surrounding upper income areas (Palm Springs, 29 Palms, Rancho, etc.) are growing at a fast pace. Thus, this bedroom community enjoys very low vacancy rates and is close to shopping, freeways & community amenities. This property is located in the desirable north-eastern part of DHS on a very quiet site with stunning views! See all the photos online. There is a short term upside offering an 8.4% Cap & 15.1% Cash-On-Cash return! With Separate Meters, it sits is on Top of Underground Natural Hot Springs and has Nice, Low Maintenance/Low Water Landscaping, Tile Floors, Refrigerators, Ranges, and is on Public Sewer. The largest unit would be perfect for an owner offering 2 big bedrooms, fireplace, great patio and spacious rooms. Full Set Up Sheet are available, just ask. A Must See!