Skip To Content

975 E Camino Parocela

Palm Springs, CA 92264
  • $1,795,000
  • STATUS: Active
  • ON SITE: 44 Days
  • MLS #: 24-421577
$1,795,000
  • 6
    BEDS
  • 0.22
    ACRES
  • 6
    BATHS
  • 0
    1/2 BATHS
  • 3,764
    SQFT
  • $477
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1957
County:

School Ratings & Info

School District:

Description

Located in the prime and sought-after Warm Sands area, in desirable South Palm Springs. This mid-century modern 5-unit garden style property has many possibilities. All 5 units will be delivered vacant and fully furnished upon closing. It can be run as a hotel, apartment building or live in one unit and rent out the rest. The City of Palm Springs has approved the property for conversion to a boutique hotel once specific upgrades are completed. Building permit and architectural plans to be transferred to the buyer upon closing. Currently the property is rented seasonally to snowbirds. There are no under market rents that you have to wait years to improve. Five units total, four 1bd/1ba and one 2bd/2ba. Detached front unit includes living room with fireplace, 1 bedroom + 1 bath, kitchen, dining area, private patio, and mountain views. Four additional units include three 1 bedroom + 1 bath units and one 2 bedroom + 2 bath unit. All four remaining units have living rooms, vintage Mid-Century Modern kitchens, breakfast bars, and dining areas. All overlook garden areas and most have private patios. Gated pool, spa, and patio area. Minutes to the many fine shops and restaurants in the downtown village area of Palm Springs. Included in the purchase price are all appliances, exterior patio furniture, interior furnishings, and household items. The perfect desert retreat! Buyer to co-operate with "possible" Seller's 1031 Tax Deferred Exchange at no cost to Buyer. Broker, Broker's Agents, & Sellers do not represent and/or guarantee the accuracy of the square footage, permitted or unpermitted space, bedroom/bath count, lot size/dimensions, schools, or any other information concerning the conditions or features of the property & surrounding area, including property income. Buyer is advised to independently verify the accuracy of all information through personal inspection and/or investigation with appropriate professionals to satisfy themselves regarding all material issues of the subject property etc.

Monthly Payment Calculator



Based on information from the Combined LA/Westside Multiple Listing Service as of 2024-11-13T23:43:03.58. 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/156026510
Print Image

975 E Camino Parocela Palm Springs, CA 92264

  • Price: $1,795,000
  • Status: Active
  • On Site: 44 Days
  • MLS #: 24-421577
6
Beds
6
Baths
0
½ Baths
0.22
Acres
3,764
SQFT
$477
$/SQFT
1957
Built
Neighborhood:
Warm Sands
County:
Riverside
Area:
Palm Springs South End
School District:
Palm Springs Unified
Property Description
Located in the prime and sought-after Warm Sands area, in desirable South Palm Springs. This mid-century modern 5-unit garden style property has many possibilities. All 5 units will be delivered vacant and fully furnished upon closing. It can be run as a hotel, apartment building or live in one unit and rent out the rest. The City of Palm Springs has approved the property for conversion to a boutique hotel once specific upgrades are completed. Building permit and architectural plans to be transferred to the buyer upon closing. Currently the property is rented seasonally to snowbirds. There are no under market rents that you have to wait years to improve. Five units total, four 1bd/1ba and one 2bd/2ba. Detached front unit includes living room with fireplace, 1 bedroom + 1 bath, kitchen, dining area, private patio, and mountain views. Four additional units include three 1 bedroom + 1 bath units and one 2 bedroom + 2 bath unit. All four remaining units have living rooms, vintage Mid-Century Modern kitchens, breakfast bars, and dining areas. All overlook garden areas and most have private patios. Gated pool, spa, and patio area. Minutes to the many fine shops and restaurants in the downtown village area of Palm Springs. Included in the purchase price are all appliances, exterior patio furniture, interior furnishings, and household items. The perfect desert retreat! Buyer to co-operate with "possible" Seller's 1031 Tax Deferred Exchange at no cost to Buyer. Broker, Broker's Agents, & Sellers do not represent and/or guarantee the accuracy of the square footage, permitted or unpermitted space, bedroom/bath count, lot size/dimensions, schools, or any other information concerning the conditions or features of the property & surrounding area, including property income. Buyer is advised to independently verify the accuracy of all information through personal inspection and/or investigation with appropriate professionals to satisfy themselves regarding all material issues of the subject property etc.
Exterior Features

Carport Spaces Total 0 Covered Parking 0 Cross Streets South Warm Sands Drive & Parocela Place Direction Faces North Entry Location Living Room Exterior Construction Stucco Garage Structures Total 0 Levels One Lot Description CurbsExterior Security LightsFencedFenced YardLot Shape-RectangularLot-Level/FlatMisting SystemSingle LotSidewalksStreet AsphaltStreet PavedUtilities - OverheadStreet LightingCorners EstablishedBack Yard Lot Location CityFlats Lot Size Area 9583 Other Structures Shed(s) Parking Garage Private Patio Features Concrete SlabCoveredCovered PorchEnclosedLanaiPatio OpenPorch - FrontPorch - RearSlab Pool Description FencedFilteredGuniteIn GroundHeatedPrivate Pool YN Yes Roof Foam Spa FencedGuniteHeatedHeated with GasIn GroundPrivate Spa YN Yes Sprinklers Sprinkler SystemDrip SystemSprinkler TimerRearFront Style Mid-Century Tennis Court None Tennis YN No Total Parking 5 View Description MountainsHills View YN Yes Water Frontage None

Interior Features

Bathroom Features RemodeledShower StallTileLow Flow Toilet(s)Linen ClosetShower Over Tub Bedroom Features All Bedrooms DownMain Floor Bedroom Common Walls Attached Cooking Appliances MicrowaveOvenRange HoodRangeGasFree Standing Gas Cooling Air ConditioningSwamp Cooler(s)Ceiling FanElectricWall Unit(s)Wall/Window Den No Dining Room No Equipment BarbequeCableDryerGarbage DisposalGas Dryer HookupGas Or Electric Dryer HookupHood FanMicrowaveRange/OvenRefrigeratorWasherVented Exhaust FanCeiling Fan Family Room No Fireplace Rooms GasGas and WoodGas StarterWood BurningLiving RoomRaised Hearth Flooring TileLaminateCementCeramic Tile Foundation Details Slab Heating CentralForced AirNatural Gas Interior Features Common WallsFurnishedTurnkey Kitchen Features Formica CountersRemodeledPantryGalley Kitchen Laundry CommunityLaundry AreaRoomOutside Laundry Equipment Own Rooms Breakfast AreaBreakfast BarPatio OpenBreakfast Water Heater Features Gas Windows AwningCustom Window CoveringDrapes/CurtainsPlantation ShuttersScreensVertical BlindsWindow BlindsWindow Shutters

Property Features

ADACompliance No Alley YN No Assessed Total Value 402063 Disability Access No Interior Steps Disclosures As Is Gross Income 145200 Gross Operating Income 145200 Inclusions AT SELLER'S SOLE DISCRETION: ALL: AppliancesInterior FurnishingsExterior Patio FurnitureExterior Potted Plants. Land Lease Type Fee Like Units1 1 Like Units2 2 Like Units3 3 Like Units4 4 Like Units5 5 Net Operating Income 105993.00 Number Of Buildings 3 Number Of Units 5 Owner Pays ElectricityGardenerGasPool ServiceWaterOther Rent Control YN Yes Sale Type Standard Security Features Carbon Monoxide Detector(s)Smoke DetectorGated Sewer In StreetIn Street PaidIn Connected and PaidPaidOn Site Source Living Area Appraiser Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Vendor Enhanced Total Annual Expense 39207 TVServices Cable TV Type Of Units Apartment Water DistrictIn StreetMeter on PropertyPublicWater DistrictPaid Water Heaters YN Yes Year Built Source Assessor Zoning R2

Listing provided courtesy of Rick Chimienti DRE#01047001 of Berkshire Hathaway HomeServices California Propert: 310-777-7800.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2024-11-13T23:43:03.58. 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.
 
https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_24-421577-2.jpg https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_24-421577-2.jpg https://bt-photos.global.ssl.fastly.net/carets/orig_boomver_1_24-421577-2.jpg
Logo
Brad Schmett Real Estate Group
78010 Main St. Suite 207
La Quinta CA, 92253