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44556 San Pascual Avenue in Palm Desert California
$1,050,000 | 6 Bedrooms | 6 Bathroom | 8.7% Cap Rate
The Airbnb Investment Property
44556 San Pascual Avenue
Palm Desert, CA 92260
Listing: Awning - Redfin - Zillow
Revenue estimates: Awning Airbnb Estimator
Welcome to 44556 San Pascual Avenue, a stunning desert oasis located in the heart of Palm Desert, CA. This fully furnished property is a true gem and perfect for those looking for a full-time residence or a highly profitable seasonal rental. Featuring 6 bedrooms, 6 bathrooms, and a 1/3-acre lot, this home is truly impressive. The property includes a sparkling pool, outdoor kitchen, and ample outdoor space, perfect for enjoying the beautiful California weather.
The kitchen has been recently renovated and includes an extra-large island for plenty of prep and storage space. All of the bathrooms have been tastefully remodeled to create a luxurious feel. Additionally, the property is not part of an HOA, so there are no restrictions. It's also not located in a flood zone, providing peace of mind.
This property is conveniently located within walking distance of Civic Center Park and just a 5-minute drive from The Living Desert Zoo and Gardens. It's also only a 15-minute drive from Coachella Valley Vista Point, making it a perfect home base for exploring the area.
The furniture is already included in the purchase price, and there's even a $5,000 budget included to replace or add additional items. Some additional repairs have been made to improve the appearance of the home, ensuring that it's rent-ready.
This property is a rare find and won't last long. Don't miss out on the opportunity to own this stunning desert escape. Contact us today for more information!
The Airbnb Investment Opportunity
How much does the home cost?
$1,050,000
How much will it earn on Airbnb?
$13,500 per month
How much will it cost to furnish it?
The property already includes furniture, and there is a $5,000 budget included to replace or add additional items.
How much will it cost to renovate?
There is a $5,000 renovation cost estimate included to make additional repairs to improve the appearance of the property and ensure it is rent-ready.
How much return will it earn in the first year?
In the first year the home will have an 15.8% cash-on-cash return. As an example, for a $100,000 upfront cost (renovations, down payment, furnishing) the home will earn $115,800 in the first year.
Nearby Comparable and Active Airbnb Listings
Comparable: 0.5 miles away
Average daily rate: $1,097
Booked: 67% of the year
Annual revenue: $271,419
Comparable: 1.4 miles away
Average daily rate: $703
Booked: 58% of the year
Annual revenue: $149,582
Comparable: 0.7 miles away
Average daily rate: $2,756
Booked: 64% of the year
Annual revenue: $644,866
Palm Desert, California Short-term Rental Regulations
What are the short-term rental laws and regulations in Palm Desert, California?
According to the city of Rancho Mirage, which is adjacent to Palm Desert, a short-term rental is defined as "any dwelling unit, in whole or in part, rented for a period of twenty-seven consecutive calendar days or less, for transient dwelling, lodging, sleeping, or special event purposes, regardless of home-sharing or subletting arrangements" [3]. This definition is similar to the definition of short-term rentals found in other California municipalities and counties.
While I was unable to find specific information about Palm Desert's short-term rental laws and regulations on a government website, the city of Palm Springs, which is nearby, has regulations in place for vacation rentals and homesharing. Vacation rentals and homesharing are only allowed as ancillary and secondary uses of residential property in the city. The city also has established a regulatory program for vacation rental and homesharing lodging to minimize adverse effects on surrounding residential neighborhoods [1]. The city of Palm Springs also requires all vacation rental and homeshare properties to file monthly TOT forms with the Palm Springs Finance Department. This includes filing a form even if there were no guests in any filing period, with a zero balance [5].
Additionally, the San Bernardino County website states that short-term rental applications for permits are currently accepted for dwellings located in the Mountain and Desert areas of the county. Short-term rentals are for 30 days or less and are subject to county ordinances [2].
Is there a moratorium on short-term rentals in Palm Desert, California?
There is no moratorium on short-term rentals in Palm Desert, California as of February 16th.
The Airbnb Investment Location
Where is Palm Desert, California?
Palm Desert is a city located in the Sonoran Desert of Southern California. It is situated in the eastern part of the Coachella Valley, which is a valley located in Riverside County, California. The Coachella Valley is about 45 miles long and 15 miles wide, and is surrounded by several mountain ranges, including the Santa Rosa Mountains to the south and the San Jacinto Mountains to the west.
Palm Desert itself covers an area of approximately 27 square miles and has a population of around 52,000 people (according to the 2020 census). It is known for its warm climate, which attracts many visitors during the winter months, as well as for its golf courses, shopping centers, and outdoor recreational activities. The city is also home to several resorts and spas, as well as a number of art galleries and cultural events.
What is there to do in Palm Desert, California?
Visit the Living Desert Zoo and Gardens: This is a popular attraction that showcases the flora and fauna of the Sonoran Desert. Visitors can see a variety of animals, from big cats and giraffes to meerkats and reptiles. There are also botanical gardens to explore.
Play Golf: Palm Desert is known for its many golf courses. One of the most famous is the Desert Willow Golf Resort, which has two 18-hole courses designed by Michael Hurdzan and Dana Fry.
Go Hiking: There are many hiking trails in the surrounding mountains, including the Santa Rosa and San Jacinto Mountains National Monument. One popular trail is the Bump and Grind Trail, which offers stunning views of the valley.
Shop and Dine: Palm Desert has a variety of shopping centers, including the upscale El Paseo shopping district, which has over 250 shops and restaurants. There are also many other dining options throughout the city.
Visit Museums and Art Galleries: The Palm Springs Art Museum in Palm Desert has a collection of contemporary and modern art. There are also many smaller art galleries in the area showcasing local artists.
Attend Festivals and Events: Palm Desert hosts many festivals and events throughout the year, including the Palm Desert Food and Wine Festival, the Palm Springs International Film Festival, and the Palm Desert Golf Cart Parade.
What kinds of people travel to Palm Desert, California?
Retirees and Snowbirds: Palm Desert is a popular destination for retirees and "snowbirds," who come to escape colder climates during the winter months. Many retirees also choose to make Palm Desert their permanent home.
Golfers: Palm Desert is known for its many golf courses and attracts golf enthusiasts from around the world.
Families: Families visit Palm Desert for its many outdoor recreational activities, such as hiking, biking, and swimming.
Art and Culture Enthusiasts: Palm Desert is home to several art galleries and cultural events, which attract visitors who are interested in art and culture.
Business Travelers: Palm Desert is also a popular destination for business travelers, as it hosts several conferences and events throughout the year.
Outdoor Adventurers: The surrounding mountains and desert offer many opportunities for outdoor adventures, such as rock climbing, off-roading, and hot air ballooning, which attracts adventure-seeking visitors.
When are the busiest and slowest seasons for tourism in Palm Desert, California?
The busiest season for tourism in Palm Desert, California is generally during the winter months, from December to March. This is the time of year when many "snowbirds" and retirees come to escape colder climates and enjoy the warm weather. The holiday season, including Thanksgiving and Christmas, is also a popular time for visitors to Palm Desert. This is when many families come to the area to spend time together and enjoy the holiday festivities.
The slowest season for tourism in Palm Desert is typically during the summer months, from June to August. The summer months can be quite hot, with temperatures often exceeding 100 degrees Fahrenheit, which can deter some visitors. However, some visitors, particularly those who are interested in outdoor activities such as hiking and rock climbing, still come to the area during the summer months.
The shoulder seasons, from April to May and from September to November, can also be good times to visit Palm Desert. During these times, the weather is generally mild, and the crowds are smaller than during the peak winter season. This can make it easier to find affordable lodging and restaurant options, and also provides a more relaxed atmosphere for visitors who prefer a quieter, less crowded experience.
How far is Palm Desert, California from the nearest airport?
The nearest airport to Palm Desert, California is the Palm Springs International Airport, which is located about 12 miles west of the city. The airport is served by several airlines, including American, Delta, United, Alaska, and Southwest.
Depending on traffic, it takes about 20-25 minutes to drive from Palm Desert to the Palm Springs International Airport. There are several transportation options available for getting from the airport to Palm Desert, including rental cars, taxis, ride-sharing services like Uber and Lyft, and shuttle services. Many hotels and resorts in Palm Desert also offer shuttle services to and from the airport for their guests.
What kind of food, nightlife, and experiences are available in Palm Desert, California?
Palm Desert has a diverse culinary scene, with many restaurants serving everything from local Southwestern cuisine to international fare. Some of the popular local dishes include fish tacos, carne asada, and date shakes made from locally grown dates. There are also many options for vegetarian and vegan cuisine.
Palm Desert is not known for its nightlife scene, but there are still options for those looking to go out after dark. Many of the local bars and restaurants offer live music and entertainment. There are also a few nightclubs and dance venues in the area.
Hiking: There are many hiking trails in the surrounding mountains, including the popular Bump and Grind Trail.
Golfing: Palm Desert is known for its many golf courses, which offer stunning views of the surrounding mountains.
Shopping: Palm Desert has a variety of shopping centers, including the upscale El Paseo shopping district, which has over 250 shops and restaurants.
Art and Culture: Palm Desert is home to several art galleries and cultural events, such as the Palm Springs International Film Festival and the Palm Desert Food and Wine Festival.
Are there any major events in Palm Desert, California?
Palm Springs International Film Festival: This film festival takes place in January and features a wide range of films from around the world, as well as appearances by actors, directors, and other industry professionals.
BNP Paribas Open: This professional tennis tournament takes place in March and is one of the largest tennis tournaments in the world. It attracts top players from around the world.
Palm Desert Food and Wine Festival: This culinary event takes place in March and features tastings of food and wine from local chefs and wineries.
Coachella Valley Music and Arts Festival: This popular music festival takes place over two weekends in April and features performances by a wide range of musical acts, as well as art installations and other cultural events.
El Paseo Art Walk: This art event takes place on the first Thursday of every month from November to May, and features art displays and events in the El Paseo shopping district.
Palm Springs International ShortFest: This film festival takes place in June and features short films from around the world, as well as appearances by industry professionals.
Palm Desert Golf Cart Parade: This annual parade takes place in October and features elaborately decorated golf carts, as well as other entertainment and activities.
What Airbnb amenities do guests expect and pay a premium for in Palm Desert, California?
Outdoor Amenities: Many guests come to Palm Desert for the warm weather and outdoor activities, so outdoor amenities like a private pool, hot tub, and outdoor grill are highly sought after. These amenities can often command a premium price.
Proximity to Attractions: Guests often look for Airbnb rentals that are close to popular attractions, such as golf courses, hiking trails, and shopping centers. Airbnb rentals that are located in desirable areas, such as the El Paseo shopping district, can also command higher prices.
Updated Appliances and Technology: Many guests expect their Airbnb rental to have modern amenities, such as a smart TV, high-speed internet, and updated appliances like a dishwasher and washer/dryer. Listings that offer these amenities can often command a higher nightly rate.
Well-Equipped Kitchen: Many guests prefer to prepare their own meals, so a well-equipped kitchen with updated appliances and cooking utensils is highly valued. Listings that have a full kitchen with modern appliances and a variety of cookware and utensils can often command a higher nightly rate.
Comfortable Sleeping Arrangements: Guests expect their sleeping arrangements to be comfortable and clean. Listings that offer comfortable beds, quality bedding, and extra pillows and blankets can often command a higher nightly rate.
Turning This Listing into an Airbnb
To get the property ready:
Place an offer on this property: If you have a local real estate agent forward them this email and let them know you are interested in the property. If you want help finding the best representation, simply reply to this email and request an agent. Awning will get in touch with it’s network of agents. It’s best to be qualified for a mortgage, here is a list of lenders that work with Airbnb investors.
Close on the property: Closing on this property should be simple. An agent will help you review the contract and confirm that everything in the inspection report makes this a good deal.
Renovate and furnish the property: This property is easy to renovate and furnish. The inspection report will point you toward any minor issues, expect to spend up to $5,000. Then you’ll need some items, which you can find in this Airbnb Host Checklist.
Hire Awning to manage your property:
Awning Management: If you choose to use Awning Property Management we can take care of gathering documents and list the property for you. You can learn more about Awning Property Management or reach our team by responding to this email.
Or for Self Managing
Gather necessary documents and permission: You’ll want to consult California Short Term Rental Laws. In most cases, you won’t require an attorney as the paperwork process is straightforward.
List the property on Airbnb: To list your property on Airbnb you’ll need a description, title and professional photography.
Manage the Airbnb: If you choose to self-manage the Airbnb you should not have much trouble finding reliable cleaners in the area.
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