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Exceptional investment opportunity in the heart of Palm Springs - walking distance to downtown. Two neighboring (4) Four-unit Apartment Buildings being offered individually for sale, providing stable income and future value-add opportunity -- buy one or buy them both for increased ROI. Each building (4-plex) offers Four sizable 2-bedroom/2-bath apartments, each with private patios, its own washer/dryer and enclosed 1-car garage. Upstairs units have amazing mountain views! Building is 4,372 SF on a 7,841 SF lot. The community is comprised of Four Buildings (each a 4-plex) with a shared pool. Landscape and pool maintenance expenses are shared between the 4 buildings. Currently 100% occupied with great historic occupancy rates. Some rents are currently below market and the new owner would have the opportunity to increase the NOI, as rental rates have increased significantly over the last 36 months. This is a great opportunity to purchase a fully leased, income producing asset in the VERY HOT Palm Springs market. Palm Springs and the Coachella Valley are experiencing a period of massive growth - don't miss out! Reach out to Listing Agent for more information. Please do not disturb the tenants.
Property Type(s):
Residential Income
| Last Updated | 12/21/2024 | Tract | Desert Arches |
|---|---|---|---|
| Year Built | 1988 | Community | Central Palm Springs |
| Garage Spaces | 4.0 | County | Riverside |
Price History
| Prior to Oct 1, '24 | $1,375,000 |
|---|---|
| Oct 1, '24 - Dec 21, '24 | $1,362,500 |
| Dec 21, '24 - Today | $1,349,000 |
Additional Details
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Dishwasher, Disposal, Freezer, Gas Range, Refrigerator, Vented Exhaust Fan, Water Heater |
| AREA | Central Palm Springs |
| FIREPLACE | Yes |
| GARAGE | Garage, Garage Door Opener, Guest, On Street, Yes |
| HEAT | Central, Forced Air, Natural Gas |
| HOA DUES | 0 |
| INTERIOR | Balcony |
| LOT | 7841 sq ft |
| LOT DESCRIPTION | Corner Lot, Landscaped, Lawn, Level, Near Public Transit, Paved |
| PARKING | Garage,Garage Door Opener,Guest,On Street |
| POOL | Yes |
| POOL DESCRIPTION | Community,Gunite,Electric Heat,In Ground |
| STORIES | 2 |
| STYLE | Contemporary |
| SUBDIVISION | Desert Arches |
| VIEW | Yes |
| VIEW DESCRIPTION | Mountain(s) |
Location
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Listed with Coldwell Banker Realty
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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