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.
|
DAYS ON MARKET
|
114
|
LAST UPDATED
|
10/5/2024
|
|
TRACT
|
Desert Arches
|
YEAR BUILT
|
1988
|
|
COMMUNITY
|
Central Palm Springs
|
GARAGE SPACES
|
4.0
|
|
COUNTY
|
Riverside
|
STATUS
|
Active
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
|
Prior to Oct 1, '24
|
$1,375,000
|
| Oct 1, '24 - Today |
$1,362,500 |
| 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) |
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"Do not call List".
Listed with Coldwell Banker Realty
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 11/25/24 8:50 AM PST and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
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