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This fully leased, ten-unit property features spacious three-bedroom, two-bath residences averaging approximately 1,230 square feet--each equipped with in-unit laundry, private patios, and covered carport parking. Residents enjoy a premier amenity package, including a resort-style pool and tennis court, all on a well-maintained 0.8-acre site.Strategically located just off the Rancho Mirage border, the property delivers central access to Palm Springs and Palm Desert, in a submarket characterized by increasing rents and enduring demand. Operations are optimized through separately metered utilities, tenant-paid water and trash, and solar-paned common areas, resulting in stable net operating income and low management intensity. Current collections reach an annualized $250,512 in rent and $254,512 effective gross income, supporting a strong in-place cap rate of 6% at the offering price of $2,949,000.Further value lies in the potential conversion of the existing rear ADU into an income-generating unit and the possibility for redevelopment of the tennis court area, pending buyer verification. This asset represents a rare blend of immediate yield and development upside--an attractive proposition for institutional and private investors seeking both stable returns and long-range growth in one of Southern California's most resilient rental markets.
| DAYS ON MARKET | 1 | LAST UPDATED | 3/18/2026 |
|---|---|---|---|
| TRACT | Not Applicable-1 | YEAR BUILT | 1982 |
| COMMUNITY | 336 - Cathedral City South | COUNTY | Riverside |
| STATUS | Active | PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AIR CONDITIONING | Yes |
|---|---|
| AREA | 336 - Cathedral City South |
| HEAT | Central |
| LOT | 0.8 acre(s) |
| LOT DIMENSIONS | 34848 |
| PARKING | Covered, Driveway |
| POOL | Yes |
| POOL DESCRIPTION | Private, Community, In Ground |
| STORIES | 2 |
| SUBDIVISION | Not Applicable-1 |
| VIEW | Yes |
| VIEW DESCRIPTION | Desert, Mountain(s) |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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Based on information from California Regional Multiple Listing Service, Inc. as of 3/19/26 8:23 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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