69180 Victoria Drive, Cathedral City, CA 92234

Property Description

This fully leased, ten-unit property features spacious three-bedroom, two-bath residences averaging approximately 1,230 square feet--each equipped with in-unit laundry, private patios, and covered carport parking. Residents enjoy a premier amenity package, including a resort-style pool and tennis court, all on a well-maintained 0.8-acre site.Strategically located just off the Rancho Mirage border, the property delivers central access to Palm Springs and Palm Desert, in a submarket characterized by increasing rents and enduring demand. Operations are optimized through separately metered utilities, tenant-paid water and trash, and solar-paned common areas, resulting in stable net operating income and low management intensity. Current collections reach an annualized $250,512 in rent and $254,512 effective gross income, supporting a strong in-place cap rate of 6% at the offering price of $2,949,000.Further value lies in the potential conversion of the existing rear ADU into an income-generating unit and the possibility for redevelopment of the tennis court area, pending buyer verification. This asset represents a rare blend of immediate yield and development upside--an attractive proposition for institutional and private investors seeking both stable returns and long-range growth in one of Southern California's most resilient rental markets.

Listing Status:

Active

Date Added:

March 18, 2026

Data Last Updated:

April 4, 2026 at 4:16AM

Listing Office:

Century 21 Affiliated Fine Homes & Estates : (760) 797-7177

Listing Agent:

Albert Catalano : (760) 969-2916

MLS ID:

219145029DA

Interior

• Flooring: Tile
• A/C:
• Heating: Central

Exterior

• Pool: CommunityIn Ground
• Parking: CoveredDrivewayParking spaces: 20

Construction

• General: 2

Location

• HOA Amenities: 0.0
• Originating MLS: CRMLS_CDAR
• County: Riverside

Lot

• Zoning: 673141001
• View: DesertMountain(s)View

Financial

• Source: CRMLS_CDAR