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$ 3,895,000
Est. payment | /mo
16,600 SqFt
$ 3,895,000
Est. payment | /mo
16,600 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 16,600 sqft
Price per Sqft $234
MLS Listing ID CL26669731PS
HOA Y/N No
Year Built 1976
Lot Size 1.220 Acres
Acres 1.22
Property Sub-Type Other
Property Description
A rare multifamily offering in one of Palm Springs' most sought-after locations, delivering 13 single-level units across three well-positioned structures. The unit mix is anchored by eleven oversized 2-bedroom, 2-bath residences averaging approximately 1,200 sq ft, complemented by two exceptional premium units spanning roughly 1,700 sq ft each featuring 2 bedrooms, 2 bathrooms, a den, expansive primary suites with oversized walk-in closets, and direct-entry 1-car garages with laundry hookups. Many units open onto a central pool/spa with tremendous mountain views and the rest open onto expansive central lawns. The asset has demonstrated consistent income growth, increasing from $265,440 in 2023 to $301,629 in 2025, with continued upward momentum into 2026. Current operations reflect elevated expenses of approximately 48%, presenting a clear and immediate opportunity to streamline to a more typical 35-40% range. Based on current averaged expenses and 2026 rent actuals the offering presents at an approximate 4.5% cap rate, with additional upside driven by both operational efficiencies and the underutilized premium unit mix. DO NOT ACCESS ANY PORTION OF THE PROPERTY WITHOUT LISTING AGENT PRESENT. DO NOT ENGAGE WITH TENANTS. 22 off-street parking spots and owned laundry facilities.
Location
State CA
County Riverside
Zoning R2
Interior
Heating Other
Cooling Central Air
Flooring Tile
Fireplace No
Laundry Common Area, Laundry Room
Exterior
Utilities Available Other Water/Sewer
View Y/N true
View Mountain(s), Other
Building
Lot Description Other
Sewer Other
Water Other
New Construction No
Others
Tax ID 511052008
© 2026 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by James Gault • Compass
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