$2,300,000
$2,650,000
13.2%For more information regarding the value of a property, please contact us for a free consultation.
0.5 Acres Lot
SOLD DATE : 07/02/2024
Key Details
Sold Price $2,300,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Twin Palms
MLS Listing ID 219104526PS
Sold Date 07/02/24
HOA Y/N No
Year Built 1958
Lot Size 0.500 Acres
Property Description
Pleased to offer this 11 unit apartment complex for sale in the beautiful Twin Palms neighborhood of Palm Springs! Located at 2080 S Camino Real, Canyon Villas sits on 1⁄2 an acre in South Palm Springs and offers amazing panoramic views of the San Jacinto Mountains along with close proximity to downtown and the curve district. The unit mix includes (1) studio, (7) one bedroom units, (2) two bedroom units, and (1) three bedroom unit with only a single vacancy! This property has been very well maintained and offers dedicated on-site parking to each tenant, a beautiful interior courtyard with a shared pool, and private patios. The interiors have been updated with quality finishes and are well maintained. Canyon Villas has historically had very good occupancy rates, with most of the current tenants having been renting for 3+ years. Rents are currently below market and the new owner would have the opportunity to increase the NOI, as we have seen steep increases in rental rates over the past 36 months. This is a great opportunity to purchase a near fully leased, income producing asset in the Palm Springs market with very little deferred maintenance. Reach out to Listing Agent for more information and please do not disturb tenants.
Location
State CA
County Riverside
Area 334 - South End Palm Springs
Interior
Heating Central
Flooring Carpet
Fireplace No
Exterior
Garage Side By Side
Pool In Ground
View Y/N Yes
View Mountain(s), Panoramic
Total Parking Spaces 12
Private Pool Yes
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 511131012
Special Listing Condition Standard
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Bought with Adam Gilbert • The Firm Brokerage
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1610 R Street, Sacramento, California, 95811, United States