520 S Highland Drive

    Palm Springs, CA 92264
    • $689,800
    • STATUS: Active
    • ON SITE: 96 days
    • ID#: 19498534PS
    UPDATED: 2 min ago
    $689,800
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1979
    County:

    School Ratings & Info

    Description

    Incredible opportunity to own a 3 unit apartment complex in Central Palm Springs! Each unit is a king-sized 2 BR / 1 BA with a big kitchen with cabinet space and counter tops galore. There are also 8 off street paved parking spaces and the units pride themselves with semi-private backyard patios to enjoy the weather or head out to the pool. Currently 100% rented (each tenant on a month to month) the property produces an attractive cap rate of 4.20%. Imagine, move in one unit and rent our the others! FHA owner occupancy only requires 15% for owner occupants. Investors, this property could be part of your desert renaissance portfolio. One unit is completely detached; perfect for the owner's unit while you rent the others.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-11-15T20:34:02.053. 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 deemed reliable but is not guaranteed accurate by the MLS or eXp Realty of California Inc.. Licensed in the State of California, USA.
    www.hometownnorthcounty.com/homes/97829960

    520 S Highland Drive Palm Springs, CA 92264

    • Price: $689,800
    • Status: Active
    • Updated: 2 min ago
    • ID#: 19498534PS
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1979
    Built
    Neighborhood:
    Not Applicable-1
    County:
    Riverside
    Area:
    334 - South End Palm Springs
    Property Description
    Incredible opportunity to own a 3 unit apartment complex in Central Palm Springs! Each unit is a king-sized 2 BR / 1 BA with a big kitchen with cabinet space and counter tops galore. There are also 8 off street paved parking spaces and the units pride themselves with semi-private backyard patios to enjoy the weather or head out to the pool. Currently 100% rented (each tenant on a month to month) the property produces an attractive cap rate of 4.20%. Imagine, move in one unit and rent our the others! FHA owner occupancy only requires 15% for owner occupants. Investors, this property could be part of your desert renaissance portfolio. One unit is completely detached; perfect for the owner's unit while you rent the others.
    Exterior Features

    Direction Faces South Lot Features Back Yard Lot Size Source Assessor Parking Features Assigned Parking YN Yes Pool Features GuniteElectric HeatIn Ground Property Attached YN No

    Interior Features

    Flooring Tile Heating CentralForced Air Heating YN Yes Levels One

    Property Features

    Additional Parcels YN No Cap Rate 4.20 Gross Income 39000.00 Gross Operating Income 39000.00 Improvements Amount 300000 Insurance Expense 1400.00 Net Operating Income 28950.00 Number Of Separate Electric Meters 3 Number Of Units Leased 3 Number With Refrigerator 1 Professional Management Expense 0.00 Rent Control YN No Senior Community YN No Special Listing Conditions Standard Subdivision Name Other Not in A Development (Not in A Developme Tenant Pays Cable TvElectricity Vacancy Allowance 0

    Listing provided courtesy of Roddy De La Garza of Redfin Corporation


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-11-15T20:34:02.053. 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 deemed reliable but is not guaranteed accurate by the MLS or eXp Realty of California Inc.. Licensed in the State of California, USA.
     
    eXp Realty of California Inc.
    2603 Camino Ramon Suite 200
    San Ramon CA, 94583