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Listed by Ryan Loria, DRE #02006138 • Triqor Group
$ 3,500,000
Est. payment /mo
Active
1433 1455 N Indian Canyon DR Palm Springs, CA 92262
0.93 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26156366
Year Built 1936
Lot Size 0.930 Acres
Source California Regional MLS
Property Description
We are pleased to present Sunset Palms Apartments, a well-maintained 24-unit apartment community located in Palm Springs, CA. The property offers an attractive unit mix consisting of spacious studios, one-bedroom, and two-bedroom units across three side-by-side individual parcels. Most units have been extensively upgraded with wood-look porcelain tile flooring, upgraded kitchens and bathrooms, stainless steel sinks, and new dual pane windows and sliding glass doors. Community amenities feature two sparkling swimming pools within gated courtyards, new ductless mini split air heating and air conditioning systems, and ample open parking. Sunset Palms offers an exceptional value-add investment opportunity with approximately 28% upside in rental income. The property is currently generating a 5.5% cap rate on in-place rents, with the potential to achieve an 8.2% cap rate as rents are brought to market, providing investors with a clear path to increased cash flow and long-term appreciation.
Location
State CA
County Riverside
Area 332 - Central Palm Springs
Interior
Heating No Heating
Laundry Laundry Area
Exterior
Garage Spaces 44.0
Pool Community Facility
Building
Story One Story
Water District - Public
Others
Tax ID 505184019
Special Listing Condition Not Applicable
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