Palm Springs CA 92262
Prime Investment Property 25 Suites May be used as an apartment complex. Between Las Palmas & Little Tuscany Palm Springs CA Tremendous Opportunity. Tucked in a quiet street This residential income property offers location location location. Amenities include Pool Spa Zen Garden Fruit Trees 25 patios. Apartment style suites may be booked daily weekly monthly. Zoning allows for Multiple-Family Dwellings. Gorgeous mountain view owning a property such as this allows for endless possibilities. The subject property sits on 1.23 acres with ample parking and an on-site laundry / office facility. Tremendous upside in value adds opportunity, a buyer could expand the portfolio's cap rate well above 5.5% per unit. Built as residential apartments in 1956 this mid-century apartment complex has 25 all suites with kitchens. All 25 suites have separate electric meters. One suite is ADA-compliant. Eleven suites are comprised of one bedroom, and one bath. Six suites are two bedrooms, one bath, Eight suites or two bedrooms one and a half bath. One suite is currently used as an office.
Listing provided courtesy of Angela Maciel-Gibbons of HomeSmart. Last updated 2023-03-24 08:54:00.000000. Listing information © 2023 CRMLS.