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69180 Victoria Drive

Cathedral City, CA 92234

– beds
– baths
– sqft
~3/4 acre lot
1981 build
– on site

This is the nicest apartment offering in Southern California. It consists of ten 3 bedroom 2 bath condo townhomes and each unit is its own separate property and has its own address/APN. So in the future, each unit can be sold separately as a condo!! IF YOU LOOK UP THIS PROPERTY PROFILE, IT WILL SHOW TEN APARTMENT UNITS, AND TEN ASSESSORS PARCEL NUMBERS!!! Each 3 bedroom 2 bath unit is 1,230 square fee and is immaculate inside. Each unit has it's own WATER METER, electric meter, and gas meter. TENANTS ALSO PAY FOR THEIR OWN TRASH! So tenant's pay for almost all of the operating expenses except for sewer at $129 monthly. See APOD in MARKETING PACKAGE in SUPPLEMENTS for expenses. Rents are a little behind the market, but are month to month and can be brought up to market using the Just Cause procedure within California Rent Control. For actual and market rents, please see RENT ROLL and RENT COMPS within the MARKETING PACKAGE in SUPPLEMENTS. At market rents, this apartment really performs! How about $324,000 annual gross income, a 10.65 GRM, a 7.99% Cap Rate, and a 12.72% Cash on Cash Return!!! SEE SUPPLEMENTS for detail. This is truly a great buy. Apartments in this area, and of this quality are very rare. The last comparable 10 unit sale was a couple years ago at 120 W Vereda Sur in Palm Springs. It sold for $3,800,000!!! See detail in SUPPLEMENTS. Please drive by (only) and take a close look at the pictures! This is truly a luxurious resort apartment that preforms very well. WE WILL LOOK AT ALL OFFERS AND LETTERS OF INTENT. PLEASE DON'T HESITATE TO SEND OUT EITHER AND WE WILL RESPOND!! YOU CAN SIMPLY EMAIL A LETTER OF INTENT IF YOU'D LIKE AND THAT ONLY TAKES MINUTES! THANK YOU.

Listed By CRMLS_CA / Tony Burton / Burton Commercial, Inc. / 951-375-7433

Last checked: Checking… • Last updated Aug 22, 2024 •

MLS# SW24154487 —

The Building

Year Built:

1981
Year Built Source:

Assessor
New Construction:

No
Building Area Total:

12300.00
Building Area Units:

Square Feet
Total Number Of Units:

10
# of Buildings:

5
Stories Total:

2
Entry Level:

1
Common Walls:

2+ Common Walls
# of Separate Gas Meters:

11
# of Separate Water Meters:

11
# of Separate Electric Meters:

11

Interior

Levels:

Two
Entry Location:

1
Laundry:

Common Area
Laundry:

1

Location

Directions:

Take the 10 to Date Palm
Latitude:

33.79827600
Longitude:

-116.45504500

The Property

Property Type:

Residential Income
Subtype:

Apartment
Zoning:

R2
Lot Features:

11-15 Units/Acre
Lot Size Area:

35000.0000
Lot Size Acres:

0.8035
Lot Size SqFt:

35000.00
Lot Size Source:

Assessor
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Census Tract:

449.16
Tax Tract:

13743
Tax Lot:

1

The Listing

Special Listing Conditions:

Standard
Parcel Number:

673141001

Heating & Cooling

Heating:

1
Heating:

Central

Utilities

Sewer:

Public Sewer
Water Source:

Public

The Community

Features:

Gutters, Sidewalks, Street Lights
Pool:

Community
Senior Community:

No
Private Pool:

No

Parking

Parking Spaces:

10.00
Carport Spaces:

10.00

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
7/27/24 Jul 27, 2024	Price Changed	CRMLS_CA	$3,450,000	-0.3%
7/27/24 Jul 27, 2024	Listed / Active	CRMLS_CA	$3,459,999	77.9% (11.9% / YR)
4/15/24 Apr 15, 2024	Listed / Active	DAMLS

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This multifamily located in Cathedral Estates, Cathedral City, CA 92234 is currently for sale for $3,450,000. 69180 Victoria Drive is a – square foot multifamily with – beds and – baths that has been on Estately for 148 days. 69180 Victoria Drive is in the Cathedral Estates neighborhood of Cathedral City and has a WalkScore® of 69, making it somewhat walkable.

Listing Courtesy of: CRMLS_CA and Burton Commercial, Inc.. Based on information from California Regional Multiple Listing Service, Inc. as of 18:18 on Dec 22.

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.