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4875 Los Olivos Avenue
Single Family Cash-flow positiveWithin your budget

4875 Los Olivos Avenue

4875 Los Olivos Avenue, 29 Palms, CA

1 beds 1 baths 440 sqft

Mid-Century Homestead cabin in a beautiful pocket neighborhood of the Indian Cove/Desert Heights area. Set on 5 acres close to the base of the Copper Mtns where black boulder peaks ascend over 680 feet. Truly an impressive ambiance. 440 sf 1 bed fixer cabin with municipal water & meter. Shaded front porch with a swing bench & wrap around deck. Living room with wood stove & dining area. Propane oven & cook top. Outhouse bathroom with records showing septic on the property. Add some solar & satellite internet to create a mostly off-grid hideaway. Detached outbuilding, approximately 300sf, with a ''western movie ranch'' facade. Complete with wide boardwalk style deck, rail road ties garden boxes, & a horse post. This structure appears to be a converted trailer. A cowboy style garden area with a rustic picket fence, arched entryway, wood barrel planter, & it's currently used to store vintage lumber, fire wood, & a few rusty relics. Fire pit with wood stump stools & old picnic table. Metal storage shed, that might have been a pump house, next to a big old metal water tank. It feels like stepping back in time to the Homestead days of the 1950s & 60s. Located on a gentle bluff above Indian Cove. About 1.5 miles to a lesser known 4x4 trail head through Siesta Dr Canyon, which may have Jeep trails that could lead to the vast Joshua Tree Lake bed. The JT Lake bed is known for off-roading & canyon trails into the vast Copper Mtns. The Copper Mtns offer over 8 square miles of government open space to explore. Enjoy vistas of the expansive Bullion & Little San Bernardino mountain ranges. Starry nights. Shimmering city night lights. Horse property. Just a 1/2 mile to pavement. 5.5 miles to the magical granite rock formations in Indian Cove Camp Ground. 18 miles to the Joshua Tree National Park main gate, where about 3 million tourists visit annually. 6 miles to restaurants, shops & grocery stores in 29 Palms. Palm Springs is about 1 hour away. The land appears to be RL-2.5 zoning, where the county may allow for two house & guest houses. The cabin is zoned Recreational Cabin, & this is typically a non-lendable designation, cash only. Information deemed reliable but not guaranteed, buyers must verify all property details. For questions on zoning & uses contact the San Bernardino county planning dept. For questions on utilities contact the appropriate agencies. It's not often a a cabin in this amazing location comes on market. Contact out office for a showing today!

List price

$115,000

Est. monthly rent

$1,200

DSCR1.35×

Lender minimum: 1.25×

Monthly cash flow

$213

Cash-on-cash return

7.41%

Down payment (25%)$28,750
Closing costs (5%)$5,750
Total cash needed$34,500
Loan amount (75%)$86,250
Monthly mortgage (7.50%, 30yr)$603
Annual property taxes$1,438
Insurance, vacancy, mgmt.$3,167
Net operating income (yr)$9,795
Gross yield12.52%

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