66365 5th Street, Desert Hot Springs, California 92240, Desert Hot Springs, 92240 - 5 bed, 5 bath

66365 5th Street, Desert Hot Springs, California 92240 home-pic-0
ACTIVE$730,000
66365 5th Street, Desert Hot Springs, California 92240
5Beds
5Baths
1,430Sqft
13,068Lot
Year Built
1948
Close
-
List price
$730K
Original List price
$750K
Price/Sqft
$510
HOA
-
Days on market
-
Sold On
-
MLS number
IG25096259
Home ConditionPoor
Features
View-

About this home

We found 3 Cons,5 Pros.

Rarely available quadplex delivered completely vacant, making this a true investor special with massive upside. Located at 66365 5th St in Desert Hot Springs, this four-unit property offers a unique opportunity in a growing rental market with high demand. Each unit has its own entrance and layout, ideal for long-term rentals, short-term vacation use, or multi-family living. The entire property is ready for renovation, lease-up, or a full reposition. Whether you’re looking to house hack, cash flow, or flip, this is the type of opportunity that doesn’t hit the market often. Perfect for a 1031 exchange, BRRRR strategy, or adding to your portfolio in one of Southern California’s most promising areas. Minutes from Palm Springs and close to local shops, spas, and major highways. Act quickly—quadplexes like this rarely come fully vacant and ready for your vision.

Condition Rating
Poor

Built in 1948, this property is explicitly marketed as 'ready for renovation' and requiring 'extensive renovation.' The images confirm this, showcasing extremely outdated kitchens with old laminate countertops, original-style wood cabinets, and vintage appliances. Bathrooms feature old vanities, fixtures, and tiling, consistent with styles from 30-50+ years ago. Flooring throughout consists of worn carpet and linoleum. All major systems, including kitchens, bathrooms, and general aesthetics, require substantial repairs and rehabilitation to meet current standards, aligning with the 'poor' condition criteria.
Pros & Cons

Pros

Vacant Quadplex: Delivered completely vacant, offering immediate control for renovation and tenant placement without existing lease hurdles.
High Investment Potential: Positioned as a 'true investor special' suitable for diverse strategies like BRRRR, 1031 exchange, house hacking, or flipping.
Strong Rental Market: Located in a growing rental market with high demand, promising robust rental income and occupancy rates.
Flexible Income Streams: Individual unit entrances and layouts support various uses, including long-term rentals, short-term vacation rentals, or multi-family living.
Strategic Location: Proximity to Palm Springs, local amenities (shops, spas), and major highways enhances its appeal for renters and vacationers.

Cons

Extensive Renovation Required: The property is explicitly stated as 'ready for renovation,' indicating a need for significant capital investment and project management.
Advanced Age: Built in 1948, the property likely requires substantial updates to systems and aesthetics, potentially leading to unforeseen repair costs.
Small Unit Footprint: With 1430 total square feet for four units, the individual units are likely quite small, which could limit rental rates or tenant appeal.

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