Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

5

Lot size

10,019 sqft

Year built

1963

Stories

1

Garage spaces

0

Heating

Forced Air

Cooling

Central Air

Pool

In Ground

View

Mountain(s)

Status

Active

Days on market

62

MLS #

244873472

About this property

Rare Palm Springs Demuth Park 5-Unit investment and owner -user opportunity . Beautifully renovated property offering immediate rental income, resort style living and exceptional zoning flexibility. This Desert Urban Retreat presents a unique opportunity. . Set on one of the areas most sought after streets, this 5 unit apartment building blends immediate potential income with comfort and sophistication with owner occupied living if you choose. . Located within walking distance to the new College of the Desert and the newly renovated Demuth Park which features a $7.5 million dollar investment that includes 22 new pickleball courts, large and small dog parks and entrance to the new valley wide CV Link. Nearby Prescott Reserve also adds value to the area., Currently you have 3 long term residents that offer dependable cash flow.R2 zoning adds valuable flexibility beyond traditional long term tenants Potential uses may include senior living, recovery retreats, assisted living, multi -generational housing, sober living ..all subjected to Palm Springs City approval. This is a turn key property with seller inventory list . All items outlined here are subjected to buyer verification . Buyer to participate in a seller 1031 Exchange at no cost to the buyer.

Location

521 Desert Way

Palm Springs, Riverside, CA, 92264