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66671 3rd, Desert Hot Springs, California 92240, Desert Hot Springs, 92240 - bed, bath

66671 3rd, Desert Hot Springs, California 92240 home-pic-0
ACTIVE$530,000
66671 3rd, Desert Hot Springs, California 92240
0Bed
0Bath
2,184Sqft
6,534Lot
Year Built
1958
Close
-
List price
$530K
Original List price
$550K
Price/Sqft
$243
HOA
-
Days on market
-
Sold On
-
MLS number
IV25255541
Home ConditionPoor
Features
Good View:
Patio
View-

About this home

We found 3 Cons,5 Pros.

Le Investment Group is pleased to present a three-property multifamily portfolio totaling nine (9) units in Desert Hot Springs, CA. The portfolio includes 12700 Parma Drive, 68040 Club Circle Drive, and 66671 3rd Street, all situated within well-maintained neighborhoods, two of which lie in the city’s desirable Spa Zone. Each property is priced at $530,000 and features a consistent mix of two 1-bedroom/1-bath units and one 2-bedroom/1-bath unit, offering functional layouts, carport parking, and strong in-place income. Current cap rates are 6.25% (Parma), 7.48% (Club Circle), and 9.01% (3rd Street). These triplexes are offered individually or together, providing flexibility for investors seeking either residential financing advantages or portfolio-scale stability and cash flow. (PLEASE REACH OUT TO LE INVESTMENT GROUP FOR FURTHER INFORMATION ON EACH OF THE THREE TRIPLEXES)

Price History

Date
Event
Price
11/19/25
Price Change
$530,000-3.6%
11/06/25
Listing
$550,000
01/31/01
Sold
$90,000
Condition Rating
Poor
The property was built in 1958, and the interior images, particularly of the kitchens and bathrooms, reveal very dated features. Kitchens have older white appliances, laminate countertops, and dated wood cabinets. Bathrooms feature older vanities, basic fixtures, and older tile/fiberglass surrounds. Flooring consists of older carpet and linoleum/vinyl. While functional and generating income, the property requires substantial rehabilitation and modernization to meet current standards, aligning with the 'Poor' condition criteria for properties built over 30 years ago with very old renovations.
Pros & Cons

Pros

Exceptional Cap Rate: The property boasts a strong 9.01% cap rate, indicating excellent cash flow potential and a high return on investment.
Multifamily Investment: As a triplex, it offers diversified income streams and reduced vacancy risk compared to single-unit properties, enhancing investment stability.
Flexible Acquisition: Available for individual purchase or as part of a larger portfolio, providing versatility for various investor strategies and financing options.
Strong In-Place Income: The property benefits from established rental income, ensuring immediate cash flow for a new owner without the need to stabilize occupancy.
Practical Unit Mix & Parking: Features a consistent and functional mix of 1-bedroom/1-bath and 2-bedroom/1-bath units, complemented by convenient carport parking for tenants.

Cons

Age of Property: Built in 1958, the property is over 60 years old, which may necessitate higher ongoing maintenance costs and potential capital expenditures for system updates or renovations.
Unconfirmed Spa Zone Location: While the portfolio mentions properties in the desirable 'Spa Zone,' it is not explicitly stated that this specific triplex is located within this premium area, potentially limiting its unique market appeal.
Potential for Deferred Maintenance: As an older income property, there is an inherent risk of deferred maintenance or the need for significant capital improvements in the near future to maintain its condition and competitiveness.

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