68610 nightingale rd, cathedral city, ca 92234...you can buy this impressive, cash generating asset...
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68610 Nightingale Rd, Cathedral City, CA 92234
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A mini resort in the heart of Cathedral City
68610 NIGHTINGALE RD,
CATHEDRAL CITY, CA 92234
PRESENTED BY NICK ANANYAN
818-786-5511
68610 Nightingale Rd, Cathedral City, CA 92234
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TABLE OF CONTENTS
DISCLAIMER 3
EXECUTIVE SUMMARY 4
INVESTMENT HIGHLIGHTS 5
THE OPPORTUNITY 6
PROPERTY INFORMATION 7
AERIAL MAP 8
GOOGLE MAP 9
ASSESSOR MAP 10
FINANCIAL SUMMARY 11
AIRBNB WEBSITE 12
PICTURES 13
ABOUT TITUS TREALTY, INC. 25
68610 Nightingale Rd, Cathedral City, CA 92234
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DISCLAIMER This Offering Memorandum has been prepared by Titus Realty, Inc. regarding the purchase of the property described herein at 68610 Nightingale Rd, Cathedral City, CA 92234 (the “Property”). The materials and information contained in this Offering Memorandum do not purport to be all- inclusive or to contain all of the information which prospective investors may need or desire. All materials have been developed by Titus Realty, INC and other sources and are subject to variation and withdrawal. No representation is made by Titus Realty, Inc. as to the accuracy or completeness of the information contained herein and nothing contained herein is or shall be relief on as a promise or representation as to the future performance of the Property. Although the information contained herein is believed to be correct, Titus Realty, INC and its respective principals and employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Titus Realty, Inc. and its respective principals and employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Offering Memorandum or any other written or oral communication transmitted or made available to the recipient. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the Property since the date of the preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum is solely the responsibility of the prospective purchaser. Additional information and an opportunity to inspect the Property will be made available upon request to interested and qualified investors.
68610 Nightingale Rd, Cathedral City, CA 92234
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EXECUTIVE SUMMARY
Property Address:
68610 Nightingale Rd, Cathedral City, CA 92234
Property Description: This is a single-family property with casita, located on the hill between Palm Desert and Palm Springs, not far from Ritz Carlton hotel.
Purchase Price: $848,000
Total Living Square Footage:
2,936 Sq. Ft.
Total Lot Square Footage: 9,583 Sq. Ft.
APN: 686-242-016
Zoning: R1
Year Built: 1965, Fully Renovated in 2017
Scheduled Gross Income: $136,000
Net Operating Income:
$78,912
Cap
9.31%
68610 Nightingale Rd, Cathedral City, CA 92234
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INVESTMENT HIGHLIGHTS
Nestled in the Upper Cathedral City Cove in Cul de Sac, rests this very private
hillside residence. This one has it all. No HOA, fee land, a very large beautiful pool surrounded by mature green oasis, the views, the privacy and recent extensive modern remodel. Main house has 4 Br and 3 Baths. The large loft style guesthouse has a huge shower and whirlpool tub. The guest house has a room next to it, currently an indoor bar and can easily be converted into sixth bedroom. Totally renovated in 2017, no money was spared to make this beautiful adobe into a private luxurious paradise. Among many features, it has new 5-ton air unit, all new pool equipment, leased solar, indoor and outdoor spa. Currently it is being used as short term rental. With a 2018 verifiable gross income of 136,000 by listing solely on Airbnb platform, the cash flow can be increased by using other available short-term rental platforms as well. The owner has other business interests and wants to cash out. If the new owner has no interest in short term rental, all future bookings will be cancelled to accommodate the new owner. The property is easy to show, by appointment only. The location, the privacy, the resort style backyard, the modern flair, make this a unique value to the most discriminating buyer.
68610 Nightingale Rd, Cathedral City, CA 92234
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THE OPPORTUNITY Location:
68610 Nightingale is uniquely located in the upper Cathedral City Cove area, providing privacy and tranquil surrounding.
Design:
The property has been carefully designed by well-known, Danielly Design Group from Los Angeles.
Guest Satisfaction:
The property is highly rated on Airbnb platform, making the owner a super host. Please check out the ranking at the website below.
Financial highlights:
This mini-resort grossed over $136K in 2018 with Airbnb. At the current price and financial outlay this investment generates an impressive CAP of over 9%. With right marketing approach the revenue can be achieved at well over $150K per year.
Bottom Line:
You can buy this impressive, cash generating asset for your real estate portfolio, making this gem even more profitable.
68610 Nightingale Rd, Cathedral City, CA 92234
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PROPERTY INFORMATION
Living Square Footage 2,936 Lot Square Footage 9,583 Year Built 1965 Year Remodeled 2017 APN: 686-242-016 Zoning R1 Air Conditioning Units 2 Central Water Heaters 2 Laundry Machines and Dryers 1 Laundry Machines and Dryer Refrigerators 2 Gazebo Fire pit 1 Indoor and Outdoor spa 1
68610 Nightingale Rd, Cathedral City, CA 92234
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AERIAL MAP
68610 Nightingale Rd, Cathedral City, CA 92234
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GOOGLE MAP
68610 Nightingale Rd, Cathedral City, CA 92234
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ASSESSOR MAP
68610 Nightingale Rd, Cathedral City, CA 92234
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FINANCIAL SUMMARY (1 of 2)
Property Address: 68610 Nightingale Rd, Cathedral City, CA 92234
Property Type: Single Family Residence with
casita Building Sq. Ft 2936 Price $848,000.00 Annual Scheduled Gross Income $136,000.00 Annual Expenses City of Cathedra City Transient Tax $14,688.00 Cleaning and Maintenance $18,000.00 Insurance $1,800.00 Property Tax $10,600.00 Utilities $12,000.00 Total Expenses $57,088.00 Net Operating Income $78,912.00 CAP 9.31% Down Payment (30 %) $254,400.00 Closing Costs $8,480.00 Loan Amount $593,600.00 Interest rate 4.50% Annual Debt Service Payment $36,092.21 Net Income after the debt service $42,819.79 Return on Investment 16.29%
68610 Nightingale Rd, Cathedral City, CA 92234
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AIRBNB WEBSITE
Airbnb Website
68610 Nightingale Rd, Cathedral City, CA 92234
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PICTURES
68610 Nightingale Rd, Cathedral City, CA 92234
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68610 Nightingale Rd, Cathedral City, CA 92234
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68610 Nightingale Rd, Cathedral City, CA 92234
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68610 Nightingale Rd, Cathedral City, CA 92234
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68610 Nightingale Rd, Cathedral City, CA 92234
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68610 Nightingale Rd, Cathedral City, CA 92234
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68610 Nightingale Rd, Cathedral City, CA 92234
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68610 Nightingale Rd, Cathedral City, CA 92234
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68610 Nightingale Rd, Cathedral City, CA 92234
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68610 Nightingale Rd, Cathedral City, CA 92234
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68610 Nightingale Rd, Cathedral City, CA 92234
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68610 Nightingale Rd, Cathedral City, CA 92234
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ABOUT TITUS REALTY, INC.
Titus Realty, Inc. is a commercial and residential real estate company serving Los Angeles Area since 2000. The firm has paved its way in the local market by building strong, successful relationships through local investors, business developers, and leading businesses. Titus Realty has brokered over $500 million in commercial and residential real estate transaction since 2000. Respected throughout the industry for our experience and knowledge of the niche residential, residential income and commercial markets, Titus Realty Inc. is dedicated to meeting and exceeding all of your real estate needs.
Having brokerage, investment, management, development, consulting, and facility’ maintenance services within the same company allows our clients to experience a true full-service real estate company embracing all of our clients’ needs. Most of the company’s multi-year experienced agents were raised in Los Angeles and have long, deeply rooted relationships in the community – an asset our clients find highly beneficial.
Nick Ananyan Broker
818-786-5511 [email protected]