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5802 Olema Road
About This Property
The spacious 2,340 sq ft residence features 3 bedrooms and 2 bathrooms, thoughtfully designed with custom details throughout. An oversized great room with a cozy fireplace anchors the living space, while the open floor plan seamlessly connects the living, dining, and kitchen areas-perfect for entertaining family and guests. The custom kitchen boasts ample cabinetry and quality upgrades, making it both functional and stylish.
Step outside to enjoy the private deck complete with a hot tub and pool, ideal for relaxing under the desert sky. A stone-floor patio and shaded outdoor living areas enhance the indoor-outdoor lifestyle, offering a comfortable space to take in some of the best views in the basin.
Additional highlights include an oversized attached 3-car garage with built-in storage cabinetry. The included second lot (2.64 acres, APN: 0596-523-05-0000) ensures your views remain preserved for years to come. Currently operating as an active vacation rental, this property presents an excellent opportunity for both personal enjoyment and investment income.
This is a rare opportunity to own a one-of-a-kind desert retreat-don't miss it!
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 16, 2026 | In contract | - | |
| In contract | |||
| Jun 16, 2026 | Listed by Cherie Miller & Associates | $899,000 | |
| Listed by Cherie Miller & Associates | |||
| Mar 28, 2023 | Sold | ||
| Sold | |||
| Jun 30, 2022 | Listed by Sharon Rose Realty, Inc. | $825,000 | |
| Listed by Sharon Rose Realty, Inc. | |||
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Beautiful custom home located at the top of the private community of Shatin Heights above Western Hills Estates with unobstructed views of city lights and the Joshua Tree National Park Mountains. Property includes stunning boulders and 4.74 acres on two legal lots. Spacious 2,340 sf with 3 bedrooms and 2 baths with custom features throughout including oversized great room, tiled snail shower, fireplaces in great room and master bathroom, and dual cooling systems. The open floorpan and dining area are perfect for entertaining guests and family. Custom kitchen with ample cabinetry and upgrades. The attached 3 car garage is oversized and features additional storage cabinetry. Property also includes an outdoor shed for even more storage capacity. The shaded patio provides for indoor outdoor living while overlooking the best view in the basin. The additional lot of 2.64 acres is included to preserve you view. Lot APN: 0596-523-05-0000. Don't wait on this one call now!
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017