561 Highland DR Active Save Request In-Person Tour Request Virtual Tour
Palm Springs,CA 92264
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 29,000 sqft
Price per Sqft $241
Subdivision Demuth Park
MLS Listing ID 219115030
Bedrooms 35
Full Baths 31
Half Baths 5
Year Built 1962
Lot Size 1.000 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 studio
Swimming 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 - Palm Springs South End
Interior
Heating Central
Cooling Air Conditioning
Fireplaces Number 10
Fireplaces Type Gas Starter,Living Room
Exterior
Garage false
Pool Community,In Ground
View Y/N true
View Mountain(s)
Building
Story 1
Sewer In, Connected and Paid
Others
Acceptable Financing 1031 Exchange,Cash,Conventional
Listing Terms 1031 Exchange,Cash,Conventional
Special Listing Condition Standard