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225 E Avenida Palmera

Palm Springs, CA 92264
  • $5,895,000
  • STATUS: Active
  • ON SITE: 128 Days
  • MLS #: 22-182577
UPDATED: 66 min ago
$5,895,000
  • 26
    BEDS
  • 0.93
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 17,654
    SQFT
  • $334
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1976
County:

School Ratings & Info

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 the Combined LA/Westside Multiple Listing Service as of 2022-12-03T15:43:21.027. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.bradschmett.net/homes/131334885
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225 E Avenida Palmera Palm Springs, CA 92264

  • Price: $5,895,000
  • Status: Active
  • On Site: 128 Days
  • Updated: 66 min ago
  • MLS #: 22-182577
26
Beds
0
Baths
0
½ Baths
0.93
Acres
17,654
SQFT
$334
$/SQFT
1976
Built
Neighborhood:
Tahquitz River Estates
County:
Riverside
Area:
Palm Springs South End
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

Covered Parking 18 Cross Streets E Avenida Palmera And E Palm Canyon Dr Entry Location Ground Level - No Steps Exterior Construction Stucco Levels Multi/Split Lot Description CurbsLawnLandscapedLot-Level/FlatSidewalks Lot Location Near Public Transit Lot Size Area 40511 Other Structures None Parking Garage CarportCarport DetachedCovered ParkingOn StreetUncovered Patio Features Enclosed Paved YN Yes Pool Description In GroundFiltered Pool YN Yes Roof Clay Spa HeatedIn Ground Spa YN Yes Sprinklers Sprinkler SystemSprinkler Timer Style Spanish Tennis Court None Tennis YN No Total Parking 26 View Description Green BeltMountains View YN Yes Water Frontage None

Interior Features

Baths Total 30.00 Common Walls Attached Cooking Appliances OvenMicrowave Cooling Central Equipment Ceiling FanDishwasherFreezerRefrigeratorRange/Oven Fireplace Rooms None Foundation Details Slab Heating Central Laundry CommunityLaundry Area Laundry Equipment Own

Property Features

ADACompliance No Assessed Total Value 2220644 Gross Income 261053 Gross Operating Income 264109 Land Lease Type Fee Like Units1 6 Like Units2 4 Like Units3 4 Like Units4 4 Net Operating Income 181169.00 Number Of Buildings 3 Number Of Units 18 Owner Pays GardenerWaterPool Service Sale Type Standard Sewer In Connected And Paid Source Living Area Other Source Lot Size Area Vendor Enhanced Tenant Pays ElectricityGasInsurance Total Annual Expense 82940.44 Type Of Units Apartments Water District Water Heaters YN Yes Year Built Source Plans Zoning R3

Listing provided courtesy of James Gault DRE#01985784 of Compass: 760-350-9253.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-12-03T15:43:21.027. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Brad Schmett Real Estate Group
760-880-5845
La Quinta and Palm Springs CA,