508 S Desert View Dr - Apartments FOR SALE


Palm Springs, CA 92264
$900,000 USD
862-345-4015
508 S Desert View Dr, Palm Springs, CA for Sale
$900,000 USD
Apartments - FOR SALE
1/17
null | 3.95% Cap Rate

508 S Desert View Dr
Palm Springs, CA 92264


HIGHLIGHTS

  • 100% Occupied Five Units (four studio | one 2bed/2bath)
  • All Tenants on month-to-month leases
  • Below market rents
  • On site laundry facilities – landlord Owned
  • Parking – five onsite spots
  • Utilities – All paid by landlord

OVERVIEW

Coldwell Banker Commercial Lyle & Associates is pleased to offer for sale the fee simple interest in 508 Desert View Drive, a well-maintained five-unit apartment complex located in a highly desirable Palm Springs Area. Built in 1960, the property features a mix of four studio units and one two-bedroom, two-bathroom unit. Additionally, the property offers shared laundry facilities, a swimming pool, and five on-site parking spaces. This prime property is ideally situated just 0.3 miles from Palm Springs International Airport and only 2.5 miles from downtown Palm Springs, offering convenient access to key amenities and transportation hubs. The property is currently 100% occupied, with all tenants on month-to-month leases. There is significant upside potential in the property due to its current below-market rents, presenting a unique opportunity for value-add investors.

FOR SALE DETAILS

PRICE

$900,000 USD

PRICE/SF

$379 USD /SF

# OF UNITS

5

PRICE/UNIT

$180,000

CAP RATE

3.95%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,118 SF

ZONING

R2

APN/PARCEL ID

680-032-001

ASK ABOUT THIS PROPERTY

Kyle BuccinoColdwell Banker Commercial Lyle & AssociatesMore Info
862-345-4015

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Kyle BuccinoColdwell Banker Commercial Lyle & AssociatesMore Info
862-345-4015

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.