CA > Palm Springs > Desert Arches
Palm Springs, CA 92262,965 E Vista Chino
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Shawn Kormondy

Shawn Kormondy

+1(323) 638-7567
$1,362,500
Est. payment /mo
8 Beds
8 Baths
4,372 SqFt
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UPDATED:

11/06/2024 03:41 AM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,372 sqft

Price per Sqft $311

Subdivision Desert Arches

MLS Listing ID 219114912DA

Style Contemporary

Bedrooms 8

Full Baths 8

Construction Status Repair Cosmetic, Updated/Remodeled

Year Built 1988

Annual Tax Amount $11,240

Lot Size 7,841 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 Palm Springs Central

Rooms

Kitchen Laminate Counters

Interior

Interior Features Living Room Balcony

Heating Central, Forced Air, Natural Gas

Cooling Air Conditioning, Ceiling Fan, Central

Flooring Mixed

Fireplaces Number 4

Equipment Ceiling Fan, Dishwasher, Dryer, Freezer, Garbage Disposal, Hood Fan, Range/Oven, Refrigerator, Washer

Laundry Garage, In Closet

Exterior

Garage Door Opener, On street, Parking for Guests

Garage Spaces 8.0

Pool Community, Gunite, Heated, In Ground, Safety Fence

Community Features Community Mailbox

View Y/N Yes

View Mountains

Handicap Access No Interior Steps

Building

Lot Description Curbs, Landscaped, Lawn, Lot-Level/Flat, Sidewalks, Single Lot, Storm Drains, Street Lighting, Street Paved, Street Public, Utilities Underground

Story 2

Foundation Slab, Permanent

Sewer In Connected and Paid

Water Mutual Water Source, Water District

Architectural Style Contemporary

Level or Stories Two

Structure Type Stucco

Construction Status Repair Cosmetic, Updated/Remodeled

Others

Special Listing Condition Standard

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Listed by Coldwell Banker Realty

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Shawn Kormondy

+1(323) 638-7567

Agent | License ID: 01451888

Agent License ID: 01451888

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