561 Highland DR, Palm Springs, CA 92264 - MLS#219115030PS

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Katrina Smith

katrina.smith@pinpointproperties.com +1(949) 209-9004

$6,995,000

Est. payment - /mo

1.87 Acres Lot

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UPDATED:

12/05/2024 02:31 AM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Subdivision Demuth Park

MLS Listing ID 219115030PS

HOA Y/N No

Year Built 1962

Lot Size 1.874 Acres

Property Description

Prime Investment Opportunity and Entire City Block for Sale!32 Units Across Three Multi-Family One-Story Buildings. 579, 561, and 509 S. Highland sold collectively as a package for $6,995,000. Key Features:509: 17 units all 1 bedroom 1 bath with 1 reserved as a managers unit.561: 5 units all 1 bedroom 1 bath.579: 10 units 2- 2 beds, 7 1 beds and 1 studioSwimming Pools: Each building has a brand-new pool with permits, new plumbing, new electrical, new plaster, and designer tile. Pools are SOLAR heated.Private Patios: Almost all units feature private patios, offering tenants their own personal outdoor space.Modern Amenities: Updated retro fitted windows are in all buildings, essential for energy efficiency in the desert climate.Conveniences: On-site laundry facilities and trash pickup for all buildings.Secure Entry: All buildings have keypad secure safe entry system.Parking: Ample parking available for all tenants and guests.Landscaping: Freshly landscaped grounds provide an attractive, low-maintenance environment.Proximity: Located near great eateries and shopping, lovely parks, and golf courses and bus stops. Convenient access to the airport ensures easy travel.Economies of Scale - has massive upside thanks to high key count providing opportunity to raise rents and maximize ROI.

Location

State CA

County Riverside

Area 334 - South End Palm Springs

Interior

Heating Central

Flooring Tile

Fireplaces Type Gas Starter, Living Room

Fireplace Yes

Exterior

Parking Features Assigned, On Street

Carport Spaces 5

Pool Community, In Ground

Community Features Gated, Pool

View Y/N Yes

View Mountain(s)

Total Parking Spaces 10

Private Pool Yes

Building

Story 1

Entry Level One

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 680032008

Security Features Gated Community

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Special Listing Condition Standard

Lease Land No

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Listed by Adam Gilbert • The Firm Brokerage

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Katrina Smith

+1(949) 209-9004

Broker | DRE#01915697

Broker DRE#01915697