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$ 3,500,000
Est. payment | /mo
4 Beds
5 Baths
0.93 Acres Lot
$ 3,500,000
Est. payment | /mo
4 Beds
5 Baths
0.93 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Vista Las Palmas (33273)
MLS Listing ID PW26156366
Bedrooms 4
Lot Size 0.930 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
We are pleased to present Sunset Palms Apartments, a well-maintained 24-unit apartment community located in Palm Springs, CA. The property offers an attractive unit mix consisting of spacious studios, one-bedroom, and two-bedroom units across three side-by-side individual parcels. Most units have been extensively upgraded with wood-look porcelain tile flooring, upgraded kitchens and bathrooms, stainless steel sinks, and new dual pane windows and sliding glass doors. Community amenities feature two sparkling swimming pools within gated courtyards, new ductless mini split air heating and air conditioning systems, and ample open parking. Sunset Palms offers an exceptional value-add investment opportunity with approximately 28% upside in rental income. The property is currently generating a 5.5% cap rate on in-place rents, with the potential to achieve an 8.2% cap rate as rents are brought to market, providing investors with a clear path to increased cash flow and long-term appreciation.
Location
State CA
County Riverside
Zoning Public Rec
Direction Driving North on North Indian Canyon Drive, Property Will be on Your Left After Passing East Camino Monte Vista
Interior
Fireplace No
Exterior
Pool Community/Common
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 505184019
Acceptable Financing Conventional
Listing Terms Conventional
Listed by Ryan Loria, DRE#02006138 Triqor Group
Nearby Locations
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