68080 Risueno Road, Cathedral City CA, 92234

Active

68080 Risueno Road

Cathedral City CA, 92234

$1,885,000

$384.69 per sqft

Active

12 Beds

6 Baths

4,900 sqft

Residential

Built in 1961

Listed by Spencer Daley with Douglas Elliman 805-469-6752

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...

25507085

MLSⓇ ID

March 5, 2025

Listed

March 6, 2025

Updated

Interior Features

Total Stories: 1
Bedrooms: 12
Total Bathrooms: 6
Interior Features: Ceiling Fan(s)
Appliances: Dishwasher, Disposal, Refrigerator
Fireplace: No
Cooling: Yes
Cooling Description: Central Air
Heating: Yes
Heating Description: Central

Exterior/Building Features

Lot Size: 0.39 Acres
Architectural Style: Mid-Century Modern

Other Property Details

Area Name: 335 - Cathedral City North
Garage: Yes
Garage Spaces: 4
Parking: Door-Multi, Garage, Guest
Parking Total: 8
View: No
County: Riverside
Pool: Yes
Pool Features: Fenced, In Ground, Private
Zoning: R1

Listing Contact: 310-595-3888

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/6/2025. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 3/6/2025 at 11:13 AM UTC