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$5,895,000
225 E Avenida Palmera, Palm Springs, CA 92264
26 Beds
30 Baths
17,654 SqFt

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An unmatched investment opportunity in an incredible south Palm Springs location. This Spanish Hacienda style apartment complex, dubbed Casa de Palmera, comprises three separate buildings totaling 18 units on nearly an acre in Tahquitz River Estates. It's rare that a property of this caliber and potential becomes available in Palm Springs. All units are equipped with central AC, full appliance suites, oversized living spaces and bedrooms, and many units have one or two large private patios. All tenants are month-to-month and many are long-term residents. Unit Breakdown: four - 2BR/2.5BA two-story townhouses, four - 2BR/2BA single-level units, four - 1BR/1BA single-level units, and six - 1BR/1BA single-level casita units with no unit above. All units are currently below market rents. Other property highlights include: outstanding mountain views, lush green spaces, close proximity to public transportation, food, grocery, financial institutions, and downtown Palm Springs, owned laundry facilities, and abundant value-add opportunities.
  • Price:
  • $5,895,000
  • Bedrooms:
  • 26
  • Square Footage:
  • 17,654
  • Acreage:
  • 0.93
  • Year Built:
  • 1976
  • Listing ID #:
  • 22182577
  • Street Address:
  • 225 E Avenida Palmera
  • City:
  • Palm Springs
  • State:
  • California
  • Postal Code:
  • 92264
  • County:
  • Riverside
  • Community:
  • South End Palm Springs
  • Subdivision:
  • Tahquitz River Estates
  • Listing Status:
  • Active
  • Listing Type:
  • Residential Income
  • Approximate Total Liveable Area:
  • 17654
  • Construction Description:
  • Stucco
  • Foundation:
  • Slab
  • Interior Features:
  • Ceiling Fan(s)
  • Number Of Floors In Unit:
  • Multi/Split
  • Number Of Units:
  • 18
  • Patio Description:
  • Enclosed
  • Stories:
  • 2
  • Style:
  • Spanish
  • Total # Of Buildings:
  • 3
  • Total Building Square Footage:
  • 17654
  • View:
  • Park/Greenbelt, Mountain(s)
  • Year Built:
  • 1976
  • Gross Income:
  • 311460
  • Net Operating Income:
  • 240223
  • Conforms To Zoning:
  • R3
  • Lot Features:
  • Lawn, Landscaped
  • Lot Size:
  • 40511
  • Lot Square Footage:
  • 40511
  • Days On Market:
  • 189
  • On Market Date:
  • 2022-07-27
  • Originating Mls:
  • Crmls
  • Subdivision:
  • Tahquitz River Estates
  • Tenant Pays:
  • Electricity, Gas, Insurance
  • Laundry:
  • Common Area
  • Carport Present:
  • Yes
  • Parking Description:
  • Covered, Carport, Detached Carport, On Street, Uncovered
  • Parking Spaces:
  • 26
  • Pool Description:
  • Filtered, In Ground
  • Spa:
  • Yes
  • Spa Description:
  • Heated, In Ground
  • Appliances:
  • Dishwasher, Microwave, Oven, Refrigerator
  • Cooling System:
  • Central Air
  • Has Central Air Conditioning:
  • Yes
  • Heating:
  • Central
  • Sewage Type:
  • Sewer Tap Paid
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo

Source: CINC

  • Listing Agent James Gault with Compass
  • CACRMLS

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