1085 Ramon Road

Closed 6/15/16
Closed 6/15/16
Gallery Image 1
Last Sold Price
$2,860,000
19,000 sqft$151/sqft
1085 Ramon Rd, Palm Springs, CA 92264

Description

Fantastic investment opportunity in Palm Springs, blocks from downtown. 19 rental units, all 2 beds/2 baths. Half of the units have been renovated at turnover and include refinished cabinets, new tile flooring, new bath vanities and fixtures. Great curb appeal and nicely manicured; landscape has been recently replaced with low water desertscape. The four buildings face a courtyard with views of the gated pool and spa which were completely replastered last year as well as views of the mountainous...Fantastic investment opportunity in Palm Springs, blocks from downtown. 19 rental units, all 2 beds/2 baths. Half of the units have been renovated at turnover and include refinished cabinets, new tile flooring, new bath vanities and fixtures. Great curb appeal and nicely manicured; landscape has been recently replaced with low water desertscape. The four buildings face a courtyard with views of the gated pool and spa which were completely replastered last year as well as views of the mountainous landscape of Palm Springs. Low turnover in this desirable complex. Ample covered and uncovered assigned parking spaces. Laundry facilities on site are an opportunity for additional income. Two of four roofs replaced two months ago. Do not miss out on this prime piece of investment real estate.
LISTING CLOSED: 06/15/2016 12:00 AM

  1. Listed by Victoria Varon • DRE #01911695 • Endeavor Group

Property Details for 1085 Ramon Road

Status
Closed
MLS #
LG16097843
Days on Market
9
Taxes
-
HOA Fees
-
Condo/Co-op Fees
-
Property Type
Multi Family
MLS Type
Commercial Sale / Multi Family
Year Built
1985
Lot Size
1.18 AC / 51,401 SF
County
Riverside County
Parking Spaces Total
62
Cooling Type
Central Air
Total Units
19.0
Business Type
Condominium, Multi-Tenant
Lot Size Source
Assessor
Building Area Total
19000
Stories Total
2
Parcel Number
508211016
Area
Not Defined (699)
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Location

Listing Courtesy of Endeavor Group, Victoria Varon, DRE #01911695

Sold By CRMLS, General NONMEMBER, DRE #01927162

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Building Information for 1085 Ramon Road

Stories2Residences-Year Built1985Building Size-Lot Size1.18 AC / 51,401 SF

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$18,228 per month

30 year fixed, 6.55% Interest

Principal and Interest

$14,537

Property Taxes

$3,691

HOA Dues

$0

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Property Information for 1085 Ramon Road

Income / Expense / Tax Details
Income Details
  • Gross Scheduled Income: $242,868
  • Vacancy Allowance Rate: 5
  • Net Operating Income: $143,919
  • Cap Rate: 5.13
Expense Details
  • Operating Expense: $86,806
  • Electric Expense: $7,532
  • Maintenance Expense: $7,200
  • Professional Management Expense: $18,000
  • Other Expense: $9,660
  • Trash Expense: $3,219
  • Water Sewer Expense: $2,605
Community / Development
Community / Development
  • Investment Property: Yes
Property / Structure Info
Interior Features
  • Laundry Features: Community
  • Laundry Equipment Own Lease: Own
  • Cooling: Central Air
  • Heating Type: Forced Air
  • Heating: Forced Air
Exterior Features
  • Construction Materials: Stucco
Land/Lot Info
  • Sign on Property: No
  • Lot Features: Landscaped, Level with Street, Lot Over 40000 Sqft, Paved
  • Land Use: Multi-Family
  • Lease Considered: No
  • Road Frontage Type: City Street
  • Water Source: Public
Parking Info
  • Carport Spaces: 16
Property / Structure Info
  • Building Status: Existing
  • Asset Class: Multi-Family
Unit Information
Unit 1
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Actual Rent: $1,095
  • Unit Type Area: 1000
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Baths Total: 2
  • Unit Type Actual Rent: $879
  • Unit Type Area: 1000
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 10
Unit 3
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Actual Rent: $1,025
  • Unit Type Area: 1000
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 2
Unit 4
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Actual Rent: $1,000
  • Unit Type Area: 1000
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 3
Unit 5
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Actual Rent: $1,050
  • Unit Type Area: 1000
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 4
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Actual Rent: $1,150
  • Unit Type Area: 1000
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 5
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Actual Rent: $1,075
  • Unit Type Area: 1000
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 6
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Actual Rent: $1,125
  • Unit Type Area: 1000
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 7
Unit 9
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Actual Rent: $1,275
  • Unit Type Area: 1000
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 8
Unit 10
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Actual Rent: $1,100
  • Unit Type Area: 1000
  • Unit Type Area Units: Square Feet
  • Unit Type Type: 9
Unit Information
  • Number Of Units Leased: 19
  • Number Of Buildings: 4

Property History for 1085 Ramon Road

DateEvent & SourcePriceAppreciation
Jun 15, 2016

Sold

CRMLS #LG16097843

$2,860,000—
Jun 2, 2016

Sold (Public Record)

Public Record #572533217

$2,860,000—
May 18, 2016

Pending

CRMLS #LG16097843

—
DateEvent & SourcePrice
06/15/2016

Sold

CRMLS #LG16097843

$2,860,000
06/02/2016

Sold (Public Record)

Public Record #572533217

$2,860,000
05/18/2016

Pending

CRMLS #LG16097843

—

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 1085 Ramon Road

Taxable ValueLand$688,255Additions$2,765,110Total$3,453,365
Tax Record2025$44,288 ($3,691 / month)
Home Facts
Total Finished SqFt20,520 SqFtAbove Grade Finished SqFt20,520 SqFtStories1Lot Size51,401 SqFtStyleMulti-Family Res (5+ Units)Year Built1989Year Renovated1989ZoningR2CountyRIVERSIDEAPN508-211-016

Schools near 1085 Ramon Road

This home is within Palm Springs Unified School District.
Rating
School
Type
Grades
Distance
Cahuilla Elementary School
Public - K to 5
Raymond Cree Middle School
Public - 6 to 8
Palm Springs High School
Public - 9 to 12
Mt. San Jacinto High School
Public - 9 to 12
Rating
School
Distance
Cahuilla Elementary School
PublicK to 5

Raymond Cree Middle School
Public6 to 8

Palm Springs High School
Public9 to 12

Mt. San Jacinto High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Endeavor Group, Victoria Varon, DRE #01911695

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.