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Sold for $5,500,000 on 12/17/24
  • Listing Provided by: 

    Eric Chen DRE #01489184 626-757-5717,

    CB RICHARD ELLIS

    $5,500,000

    40235 Harris Ln, Palm Desert, CA 92211

    --beds
    --baths
    24,360sqft
    Multi Family
    Built in 1981
    -- sqft lot
    $5,476,700 Zestimate®
    $226/sqft
    $1,992 Estimated rent

    What's special

    We are proud to present an exceptional opportunity to acquire the Monta Vista Townhomes, a meticulously well kept 24-Unit multifamily property situated between Country Club Drive and Washington Street on 40235 Harris Lane in the city of Palm Desert. With each unit having its own individual parcel number, this property has ±24,360 of rentable SF and is situated on a generous ±143,312 SF lot. Property is eligible for short term rental permits and is located in the R-3 Zone. Palm Desert boasts sunshine most of the year creating consistent demand for rentals due to the steady influx of residents. 40235 Harris Lane offers a central location with convenient access to public transportation and the 10 Freeway, in addition to a variety of retail centers, high-end restaurants, shops and resorts catering to diverse needs and providing excellent entertainment options for residents. The desirable Monta Vista Townhomes feature large, open-style floor plans with upgraded fully equipped kitchens with stainless steel appliances, modern fixtures, vertical blinds, central AC/heating, washer and dryer hook-ups, private patios and a combination of stylish plank wood and carpet flooring throughout. The property boasts a combination of desert and lush landscaping with lovely mountain views, covered carport parking, laundry facilities, private dog park, tennis court and a luxury resort style pool and spa. The Monta Vista Townhomes is a stable income-producing asset in the Coachella Valley, promising a strong return on investment. Whether you’re a first-time investor seeking to enter the market, a seasoned investor looking to expand your portfolio, or considering a 1031 Exchange, this property offers exceptional stability and long-term value.

    Zillow last checked: 7 hours ago

    Listing updated: December 18, 2024 at 09:54pm

    Listing Provided by:

    Eric Chen DRE #01489184 626-757-5717,

    CB RICHARD ELLIS

    Bought with:

    Eric Chen, DRE #01489184

    CB RICHARD ELLIS

    Source: CRMLS,MLS#: CV24155855MLS LogoOriginating MLS: California Regional MLS

    Facts & features

    Interior

    Heating
    • Central
    Cooling
    • Central Air
    Appliances
    • Laundry: Washer Hookup, Electric Dryer Hookup
    Features
    • Common walls with other units/homes: 2+ Common Walls
    Interior area
    • Total structure area: 24,360
    • Total interior livable area: 24,360 sqft

    Property

    Parking
    • Total spaces: 26
    • Parking features: Carport
    • Carport spaces: 26
    Features
    • Levels: Two
    • Stories: 2
    • Entry location: 1
    • Pool features: Community
    • Has spa: Yes
    • Spa features: Community
    Lot
    • Size: 3.29 Acres
    • Features: 21-25 Units/Acre, Lot Over 40000 Sqft
    Details
    • Additional parcels included: through 632071024
    • Parcel number: 632071001
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Multi Family
    • Attached to another structure: Yes
    Condition
    • New construction: No
    • Year built: 1981

    Utilities & green energy

    • Sewer: Public Sewer
    • Water: Public

    Community & neighborhood

    Community
    • Community features: Curbs, Sidewalks, Pool
    Location
    • Region: Palm Desert
    • Subdivision: Monta Vista Townhomes

    HOA & financial

    Other financial information
    • Total actual rent: 533460

    Other

    Other facts
    • Listing terms: Cash,Cash to New Loan
    Services availability