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68080 Risueno Road

Cathedral City, CA 92234

– beds
– baths
– sqft
~1/2 acre lot
1961 build
– on site

RARE INVESTMENT OPPORTUNITY- Introducing four turn-key, Free-standing Homes on two combined lots with Shovel-Ready RTI Plans for additional development. All four homes are delivered Vacant and updated, with a long rental history and low vacancy. Each turn-key property consists of 2 Bedrooms and 1 Bath, and has its own private backyard space, parking, and shares a sparkling communal poolA true Oasis Compound. While the homes are ready to generate income NOW at a 5.5%- 5.8% CAP, the fully entitled and approved plans allow the next owner to build an additional 2 (2 BD/1 BTH) homes/ADU's, for 6 total, creating an additional stream of income and a potential $15K in gross return at just today's market rates. This is a rare chance to create immediate cash flow with new tenants, live in one home and rent out others, and/or value-add with additional development and increased income. Get in before the $2.2B Palm Springs Airport Expansion. The ultimate canvas for Real Estate Investors in a growing region...

Listed By CRMLS_CA / Spencer Daley / Douglas Elliman

Last checked: Checking… • Last updated Mar 13, 2025 •

MLS# 25507085 —

The Building

Year Built:

1961
New Construction:

No
Building Area Total:

4900.00
Total Number Of Units:

6
# of Buildings:

6
Architectural Style:

Mid Century Modern
Stories Total:

1
Common Walls:

No Common Walls

Interior

Features:

Ceiling Fan(s)
Levels:

One

Financial & Terms

Disclosures:

Property Report

Location

Directions:

Heading south on Landau, make a left on Tortuga, a right on La Paz. Units on the corner of Risueno and La Paz.
Latitude:

33.83254200
Longitude:

-116.47402300

The Property

Property Type:

Residential Income
Zoning:

R1
Lot Size Area:

16988.0000
Lot Size Acres:

0.3900
Lot Size SqFt:

16988.00
Lot Size Source:

Assessor

Listing Agent

Contact info:

The Listing

Special Listing Conditions:

Standard
Parcel Number:

675253030

Heating & Cooling

Heating:

1
Heating:

Central
Cooling:

Yes
Cooling:

Central Air

Appliances

Appliances:

Dishwasher, Disposal, Refrigerator
Included:

Yes

The Community

Subdivision:

Panorama
Subdivision:

Panorama
Association:

No
Pool:

In Ground, Fenced, Private
Senior Community:

No
Private Pool:

Yes
Spa Features:

None
Assessments:

No

Parking

Parking:

Yes
Parking:

Garage - Two Door, Guest
Parking Spaces:

8.00
Garage Spaces:

4.00

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
3/5/25 Mar 5, 2025	Listed / Active	CRMLS_CA	$1,885,000	110.6% (29.6% / YR)
6/10/21 Jun 10, 2021		CRMLS_CA	$894,900	-0.6%
5/14/21 May 14, 2021		DAMLS	$899,900

Multifamily For Sale

$1,885,000

Listing provided by broker:

Spencer Daley

Douglas Elliman

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This multifamily located in Palm Springs Panorama, Cathedral City, CA 92234 is currently for sale for $1,885,000. 68080 Risueno Road is a – square foot multifamily with – beds and – baths that has been on Estately for 10 days. 68080 Risueno Road is in the Palm Springs Panorama neighborhood of Cathedral City and has a WalkScore® of 27, making it car-dependent. This multifamily is in the attendance area of Rancho Mirage High School.

Listing Courtesy of: CRMLS_CA and Douglas Elliman. Based on information from California Regional Multiple Listing Service, Inc. as of 00:03 on Mar 15.

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. 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, 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.