Carol & Jay Starr | Debra Vollmer

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Listing provided courtesy of Realty Trust - MLS#219102467PSMLS Provider

1900 S Camino RealPalm Springs, CA 92264

Multi-Family · 0.34 Acres

$2,500,000 Active

Overview

Time on Site:
23 days
Visits:
0

Rare opportunity to acquire a well maintained successfully established income property in one of the most desirable locations of South Palm Springs. This modern 6-Unit Courtyard complex (Two 2BDR-2BA and Four 1BDR-1BA) fully occupied with remarkable rental history and high cash-flow, offers stability for any type of investor, first-time purchaser, investors seeking to diversify their portfolio or execute a 1031 exchange. Nestled in the serene Twin Palms neighborhood, the complex features a private and peaceful environment, modern architecture with tall ceilings, stunning mountain views, a private central sparkling pool & spa and manicured landscape. The well-designed layout of each unit provides ample space and flexibility to accommodate a wide range of living arrangement. All separately metered, and with assigned off-street parking, and four units featuring private patios. Among the most recent updates in recent years, four of the six units were renovated with contemporary finishes, quartz countertops, stainless steel appliances, modern showers and more. The roof of unit E was completely redone in 2022, and the L-shaped roof was serviced throughout. The pool decking was redone in 2022. This 6-Unit complex showcases attention to details in every aspect of its maintenance. Its location offers convenient access to renowned dining, shopping, and entertainment options. The property has high rental income with potential for further revenue growth. You Own the Land!

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Facts & Features

  • Type Multi-Family
  • Lot 0.34 Acres

General

Building Information
  • Year Built: 1975
Location/Region
  • Country: US
  • County Or Parish: Riverside
  • MLS Area Major: 334 - South End Palm Springs
  • Subdivision Name: Twin Palms
Community/Development
  • Community Features: Pool
Rent/Lease Information
  • Land Lease: No
General Information
  • Parcel Number: 511054006
  • Property Condition: Updated/Remodeled
  • Property Type: Residential Income
  • Rent Control: No
  • Senior Community: No
  • Special Listing Conditions: Standard

Interior

Parking Information
  • Garage: No
Beds/Baths
  • Bathrooms Total: 0
General Information
  • Appliances: Dishwasher,Disposal,Gas Range,Refrigerator,Water Heater
  • Fireplace: No
  • Flooring: Carpet,Tile
  • Foundation Details: Slab
  • Interior Features: Cathedral Ceiling(s),High Ceilings
  • Levels: One
  • Spa Features: Heated,In Ground
  • Spa: Yes
  • Stories: 1
  • Stories Total: 1

Exterior

Parking Information
  • Open Parking Spaces: 9.0
  • Parking Features: Assigned,Other
  • Parking Total: 9.0
Lot Information
  • Lot Features: Corner Lot,Front Yard,Landscaped,Near Public Transit,Rectangular Lot
  • Lot Size Acres: 0.34
  • Lot Size Area: 14810.0
  • Lot Size Source: Assessor
  • Lot Size Square Feet: 14810.0
  • Lot Size Units: Square Feet
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
Waterfront/View
    Building Exterior/Construction
    • Architectural Style: Contemporary,Modern
    • Property Attached: No
    General Information
    • Number Of Units Leased: 6
    • Number Of Units Total: 6
    • Pool Features: Community,Gunite,Gas Heat,In Ground
    • Pool Private: Yes

    Neighborhood

    Palm Springs

    Nestled at the base of the San Jacinto Mountains, the beautiful desert resort city of Palm Springs is an international destination for outdoor sport enthusiasts, Mid-Century architecture admirers, and fans of the glamour of Golden Era Hollywood. Palm Springs is located approximately 110 miles southeast of Los Angeles and 140 miles northeast of San Diego, making it an ideal distance for Southern California residents to escape for a quick getaway weekend or the perfect locale for a second home.
    Learn More

    Community

    92264 (Palm Springs) Demographics
    59
    Median Age
    400
    Population Density (per sq. mile)
    51%
    College Educated
    $60,318
    Estimated Median Income
    7,506
    Estimated Total Home Owners
    3,772
    Estimated Total Renters
    67% / 33%
    Estimated Owner / Renter Divide
    2
    Estimated Average Household Size
    Community data courtesy of LiveBy, Inc.

    Schools

    Elementary Schools
    2
    Public
    Cahuilla Elementary
    • Grades: KG - 5
    • Enrollment: 483
    4
    Public
    Cielo Vista Charter
    • Grades: KG - 8
    • Enrollment: 869
    2
    Public
    Desert Learning Academy
    • Grades: KG - 12
    • Enrollment: 215
    Middle Schools
    4
    Public
    Cielo Vista Charter
    • Grades: KG - 8 /
    • Enrollment: 869
    2
    Public
    Desert Learning Academy
    • Grades: KG - 12 /
    • Enrollment: 215
    High Schools
    2
    Public
    Desert Learning Academy
    • Grades: KG - 12 /
    • Enrollment: 215
    School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

    Monthly Cost

    $
    $ %
    %
    $
    $
    * Assumes 7.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.

    Market Data

    Based on the last 30 days in this zip code

    $1,086,612
    Median Sales Price
    $564
    Median Price per Square Foot
    158
    Properties Sold
    162
    New on Market
    61
    Average Days on Market
    493
    Properties for Sale
    Calculations provided by Reliance Network

    History

    Date Event Value Agent
    11/5/2023Source: CRMLS Added to Database
    November 05, 2023
    11/5/2023Source: California Desert MLS Added to Database
    November 05, 2023
    1/2/2023Source: CRMLS Added to Database
    January 02, 2023