561 Highland DR, Palm Springs, CA 92264 – 219115030PS

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$6,995,000

Est. payment - /mo

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35 BD

36 BA

29,000 SqFt

Active

561 Highland DR Palm Springs, CA 92264

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Norma Mardelli

norma@mardellirealestate.com +1(818) 400-3794

UPDATED:

11/20/2024 03:11 AM

Key Details

Property Type Multi-Family

Sub 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 219115030PS

Bedrooms 35

Full Baths 31

Half Baths 5

Year Built 1962

Lot Size 1.874 Acres

Acres 1.0

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 Palm Springs South End

Interior

Heating Central

Cooling Air Conditioning

Flooring Tile

Fireplaces Number 10

Fireplaces Type Gas StarterLiving Room

Exterior

Parking Features Assigned, On street

Garage Spaces 10.0

Pool Community, In Ground

View Y/N Yes

View Mountains

Building

Story 1

Sewer In Connected and Paid

Level or Stories One

Others

Special Listing Condition Standard

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