Listed by Angela Maciel-Gibbons with HomeSmart

350 Chino Canyon Road

Palm Springs, CA, 92262

$6,950,000

$6,950,000
Active
Active
 - For Sale
property_type
Commercial
calendar
Built 1956
Prime Investment Property 25 Suites May be used as an apartment complex. Between Las Palmas & Little Tuscany Palm Springs CA Tremendous Opportunity. Tucked in a quiet street This residential income property offers location location location. Amenities include Pool Spa Zen Garden Fruit Trees 25 patios. Apartment style suites may be booked daily weekly monthly. Zoning allows for Multiple-Family Dwellings. Gorgeous mountain view owning a property such as this allows for endless possibilities. The subject property sits on 1.23 acres with ample parking and an on-site laundry / office facility. Tremendous upside in value adds opportunity, a buyer could expand the portfolio's cap rate well above 5.5% per unit. Built as residential apartments in 1956 this mid-century apartment complex has 25 all suites with kitchens. All 25 suites have separate electric meters. One suite is ADA-compliant. Eleven suites are comprised of one bedroom, and one bath. Six suites are two bedrooms, one bath, Eight suites or two bedrooms one and a half bath. One suite is currently used as an office.
MLS® ID:
219090853DA
Updated:
3/29/23
Compass
Canavan Coit & Associates
Office: (760) 808-1372 Email: susan.canavan@compass.com

Exterior/Building Features

Lot Size
1.23 acres lot

Other Property Details

Area Name
331 - North End Palm Springs
Garage
No
Parking
27
Parking Total
27.0
View
N
County
Riverside
Pool
No
Total Stories
1
Buyer Agency Compensation
2.500

Listing Contact:  

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/29/23. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2023 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 3/29/23 at 9:19 AM UTC

Compass
Canavan Coit & Associates
Office: (760) 808-1372 Email: susan.canavan@compass.com
Contact