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959 E Vista Chino

Palm Springs, CA 92262
  • $1,375,000
  • STATUS: Active
  • ON SITE: 40 Days
  • MLS #: 219114911
UPDATED: 41 min ago
$1,375,000
  • 8
    BEDS
  • 0.22
    ACRES
  • 8
    BATHS
  • 0
    1/2 BATHS
  • 4,048
    SQFT
  • $340
    $/SQFT
Neighborhood:
Desert Arches
Type:
Multi-Family
Built:
1988
County:
Riverside
Area:
332 - Palm Springs Central

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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 4,048 SF on a 9,583 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.

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©2024 California Desert Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty Coachella Valley. Based on information from the California Desert Association of Realtors as of 2024-09-12T23:36:16.04. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker of MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listing by the office/agent presenting the information.

Licensed in the State of California, USA
www.kwcoachellavalley.com/homes/153284111
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959 E Vista Chino Palm Springs, CA 92262

  • Price: $1,375,000
  • Status: Active
  • On Site: 40 Days
  • Updated: 41 min ago
  • MLS #: 219114911
8
Beds
8
Baths
0
½ Baths
0.22
Acres
4,048
SQFT
$340
$/SQFT
1988
Built
Neighborhood:
Desert Arches
County:
Riverside
Area:
332 - Palm Springs Central
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 4,048 SF on a 9,583 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.
Exterior Features

Building Style Contemporary Exterior Construction Stucco Foundation PermanentSlab Gated Community No Levels Two Parking Garage Door OpenerGuestOn Street Patio Features Covered Property Sub Type Quadruplex Total Carport Spaces 0.00 Total Covered Spaces 4.00 Total Parking Spaces 8.00 Total Uncovered Assigned Spaces 0.00 View Yes View Type Mountain(s)

Interior Features

Appliances DishwasherDisposalDryerExhaust FanFreezerGas RangeRefrigeratorWasher Cooling Type Air ConditioningCeiling Fan(s)Central Air Fireplace Yes Fireplace Features Unknown Fireplace Location Living Room Flooring Mixed Heating CentralForced Air Heating Fuel Natural Gas Kitchen Features Laminate CountersQuartz Counters Rooms Dining AreaLiving Room Total Fireplaces 2

Property Features

Community Features Community Mailbox Disability Access No Interior Steps Elevator No Gross Annual Income Amount 86076.00 Land Type Fee Simple Laundry Yes Laundry Equipment Own Laundry Location In ClosetIn Garage Listing Terms 1031 ExchangeCashCash to New LoanConventionalSubmit Lot Description CurbsLandscapedLawnLevelSidewalksSingle LotStorm DrainsStreet LightingStreet PavedStreet PublicUtilities Underground Lot Location Near Public Transit Monthly Gross Income Amount 7173.00 Net Operating Income Amount 62327.00 Other Structural Features Balcony Owner Pays OtherWater Pool Yes Pool Accessories Safety Fence Pool Construction GuniteIn Ground Pool Description CommunityGuniteHeatedIn Ground Pool Location Community Property Attached Detached No Property Condition Repair CosmeticUpdated/Remodeled Rent Control No Sale Type Standard Security Safety None Senior Community No Sewer InConnected and Paid Spa Hot Tub No Tax Mello Roos No Tenant Pays Air Cond/Heat MainCable TVElectricityGas Total Annual Operating Expenses Amount 23749.00 Total Taxes Amount 11969.00 Tv Services Cable TV Water Water District Water District Name DWA Water Heater Yes Water Heater Feature Water Heater Unit

Listing information © 2024 California Desert Association of Realtors.
Listing provided courtesy of David Goldberg of Coldwell Banker Realty: (760) 776-9898.
©2024 California Desert Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty Coachella Valley. Based on information from the California Desert Association of Realtors as of 2024-09-12T23:36:16.04. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker of MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listing by the office/agent presenting the information.

Licensed in the State of California, USA
 
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Keller Williams Realty Coachella Valley
39-575 Washington Street, Suite #105
Palm Desert CA, 92211