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Chuck Lamm

chuck.lamm@engelvoelkers.com +1(818) 652-2876

$ 1,362,500

Est. payment -/mo

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Price Dropped by $12K

965 E Vista Chino Palm Springs, CA 92262

7,840 Sqft Lot

UPDATED:

10/01/2024 11:34 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Subdivision Desert Arches

MLS Listing ID 219114912DA

Construction Status Repairs Cosmetic,Updated/Remodeled

HOA Y/N No

Year Built 1988

Lot Size 7,840 Sqft

Property Description

Exceptional investment opportunity in the heart of Palm Springs - walking distance to downtown. Two neighboring (4) Four-unit Apartment Buildings being offered individually for sale, providing stable income and future value-add opportunity -- buy one or buy them both for increased ROI. Each building (4-plex) offers Four sizable 2-bedroom/2-bath apartments, each with private patios, its own washer/dryer and enclosed 1-car garage. Upstairs units have amazing mountain views! Building is 4,372 SF on a 7,841 SF lot. The community is comprised of Four Buildings (each a 4-plex) with a shared pool. Landscape and pool maintenance expenses are shared between the 4 buildings. Currently 100% occupied with great historic occupancy rates. Some rents are currently below market and the new owner would have the opportunity to increase the NOI, as rental rates have increased significantly over the last 36 months. This is a great opportunity to purchase a fully leased, income producing asset in the VERY HOT Palm Springs market. Palm Springs and the Coachella Valley are experiencing a period of massive growth - don't miss out! Reach out to Listing Agent for more information. Please do not disturb the tenants.

Location

State CA

County Riverside

Area 332 - Central Palm Springs

Interior

Interior Features Balcony

Heating Central, Forced Air, Natural Gas

Cooling Central Air

Fireplaces Type Living Room

Fireplace Yes

Appliance Dishwasher, Freezer, Disposal, Gas Range, Refrigerator, Vented Exhaust Fan, Water Heater

Exterior

Garage Garage, Garage Door Opener, Guest, On Street

Garage Spaces 4.0

Garage Description 4.0

Pool Community, Gunite, Electric Heat, In Ground

Community Features Pool

View Y/N Yes

View Mountain(s)

Parking Type Garage, Garage Door Opener, Guest, On Street

Total Parking Spaces 8

Private Pool Yes

Building

Lot Description Corner Lot, Lawn, Landscaped, Level, Near Public Transit, Paved

Story 2

Entry Level Two

Foundation Permanent, Slab

Architectural Style Contemporary

Level or Stories Two

New Construction No

Construction Status Repairs Cosmetic,Updated/Remodeled

Others

Senior Community No

Tax ID 507041026

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange, Submit

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange, Submit

Special Listing Condition Standard

Listed by David Goldberg • Coldwell Banker Realty

Chuck Lamm

Broker Associate | License ID: 00857151

+1(818) 652-2876

Chuck Lamm

965 E Vista Chino Palm Springs, CA 92262

Key Details

Location

Interior

Exterior

Building

Others

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965 E Vista Chino