520 Desert View DrPalm Springs, CA 92264

  • Residential income properties
  • 3,350 SF
For Sale
$1,475,000 View listing

Property Details for 520 Desert View Dr

Year built
1963
Construction
WOOD
Lot size
0.23 AC
Property size (Sq ft)
3,350 SF
Zone code
R2
Property type
Residential income properties
Property subtype
Other apartment buildings
APN
680-032-002
APU
680032002

Description

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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,141,687
    6.5%
    $1,053,865
    7%
    $978,589
  • Comparable approach

    Method
    Valuation
    Relative Method
    $910,881
    Geo Method
    $1,827,604
  • Alternative Use

    Use
    Valuation
    Residential
    $1,053,865
    Hospitality
    $965,335
    Educational
    $803,147
    Medical
    $830,769
    Retail
    $1,249,340
520 Desert View Dr, Palm Springs, California

Location Insight

City
Palm Springs
County
Riverside
State
California
Latitude
33.8154
Longitude
-116.509
CBSA code
40140
CBSA name
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$10,149
$159,181
$573,052
$732,233
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