For Sale
$1,475,000

520 Desert View DrPalm Springs, CA 92264

Five-unit turnkey investment opportunity.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional five-unit apartment building in Palm Springs, California presents a compelling investment opportunity. The property, situated at 520 Desert View Dr, 92264, boasts a total of 3,765 square feet on a 0.23-acre lot. Each of the five units features two bedrooms and one bathroom, complete with private patios or backyards. Built in 1978, the property has undergone a complete renovation, resulting in excellent condition and a modern aesthetic. Individual units are equipped with separately metered electricity and gas. The exterior showcases recent upgrades including new paint, windows, landscaping, lighting, and asphalt. Constructed with a wood frame, stucco exterior, and concrete slab foundation, this single-story building offers low-maintenance operation and immediate cash flow. The property's prime location provides convenient access to Palm Springs' vibrant dining, entertainment, and cultural attractions, and is just two minutes from Palm Springs International Airport. The asking price is $1,475,000, representing a price per unit of $295,000 and a price per square foot of $391.77. The property's strong performance is reflected in its 4.99% cap rate. This turnkey asset offers a rare combination of location, condition, and financial performance, making it an ideal addition to any investment portfolio.

Highlights

  • Five-unit apartment building in Palm Springs, CA, at 520 Desert View Dr, 92264.
  • 3,765 sq ft building on a 0.23-acre lot.
  • Five 2 bed/1 bath units, each with private patio/yard.
  • Completely renovated, excellent condition, modern aesthetic.
  • Individually metered utilities (gas & electric).
  • Recent exterior upgrades (paint, windows, landscaping, lighting, asphalt).

Property Details for 520 Desert View Dr

Property type
Apartment buildings
Square Feet
3,765 SF
Year Built
1978
Units
5

Location Insight

City
Palm Springs
County
Riverside
State
California
Latitude
33.8153624
Longitude
-116.5094721
520 Desert View Dr, Palm Springs, California

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520 Desert View Dr
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