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225 E Avenida Palmera

Palm Springs, CA 92264
  • $5,895,000
  • STATUS: Active
  • ON SITE: 17 Days
  • ID#: 22182577
UPDATED: 57 min ago
$5,895,000
  • 0
    BEDS
  • 0.93
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1976
County:

School Ratings & Info

Listing Agent(s): James Gault of Compass (760-350-9253)


Description

An unmatched investment opportunity in an incredible south Palm Springs location. This Spanish Hacienda style apartment complex, dubbed Casa de Palmera, comprises three separate buildings totaling 18 units on nearly an acre in Tahquitz River Estates. It's rare that a property of this caliber and potential becomes available in Palm Springs. All units are equipped with central AC, full appliance suites, oversized living spaces and bedrooms, and many units have one or two large private patios. All tenants are month-to-month and many are long-term residents. Unit Breakdown: four - 2BR/2.5BA two-story townhouses, four - 2BR/2BA single-level units, four - 1BR/1BA single-level units, and six - 1BR/1BA single-level "casita" units with no unit above. All units are currently below market rents. Other property highlights include: outstanding mountain views, lush green spaces, close proximity to public transportation, food, grocery, financial institutions, and downtown Palm Springs, owned laundry facilities, and abundant value-add opportunities.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-14T11:27:45.443. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or American Real Estate List & Sell. Licensed in the State of California, USA.
www.americanrealestatehomes.com/homes/131335690
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225 E Avenida Palmera Palm Springs, CA 92264

  • Price: $5,895,000
  • Status: Active
  • On Site: 17 Days
  • Updated: 57 min ago
  • ID#: 22182577
0
Beds
0
Baths
0
½ Baths
0.93
Acres
1976
Built
Neighborhood:
Tahquitz River Estates
County:
Riverside
Area:
334 - South End Palm Springs
Property Description
An unmatched investment opportunity in an incredible south Palm Springs location. This Spanish Hacienda style apartment complex, dubbed Casa de Palmera, comprises three separate buildings totaling 18 units on nearly an acre in Tahquitz River Estates. It's rare that a property of this caliber and potential becomes available in Palm Springs. All units are equipped with central AC, full appliance suites, oversized living spaces and bedrooms, and many units have one or two large private patios. All tenants are month-to-month and many are long-term residents. Unit Breakdown: four - 2BR/2.5BA two-story townhouses, four - 2BR/2BA single-level units, four - 1BR/1BA single-level units, and six - 1BR/1BA single-level "casita" units with no unit above. All units are currently below market rents. Other property highlights include: outstanding mountain views, lush green spaces, close proximity to public transportation, food, grocery, financial institutions, and downtown Palm Springs, owned laundry facilities, and abundant value-add opportunities.
Exterior Features

Architectural Style Spanish Carport YN Yes Construction Materials Stucco Entry Location Ground Level - No Steps Foundation Details Slab Lot Features LawnLandscaped Number Of Separate Electric Meters 18 Parking Features CoveredCarportDetached CarportOn StreetUncovered Parking Total 26 Pool Features FilteredIn Ground Spa Features HeatedIn Ground Spa YN Yes View Park/GreenbeltMountain(S) View YN Yes

Interior Features

Appliances DishwasherMicrowaveOvenRefrigerator Cooling Central Air Cooling YN Yes Fireplace Features None Fireplace YN No Heating Central Heating YN Yes Interior Features Ceiling Fan(S)

Property Features

Additional Parcels YN No Association Fee 0 Gross Income 261053 Land Lease YN No Laundry Features Common Area Levels Multi/Split Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 181169 New Construction YN No Number Of Separate Gas Meters 18 Number Of Units Leased 18 Senior Community YN No Sewer Sewer Tap Paid Special Listing Conditions Standard Tenant Pays ElectricityGasInsurance Vacancy Allowance Rate 0 Zoning R3



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-14T11:27:45.443. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or American Real Estate List & Sell. Licensed in the State of California, USA.
 
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American Real Estate List & Sell
6391 Magnolia Ave., B20
Riverside CA, 92505
Listing Agent(s): James Gault of Compass (760-350-9253)