520 Desert View DrPalm Springs, CA 92264

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

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.

• 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

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

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