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$ 3,500,000
Est. payment /mo
New
1433 1455 N Indian Canyon DR Palm Springs, CA 92262
0.93 Acres Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Vista Las Palmas (33273)
MLS Listing ID PW26156366
HOA Y/N No
Year Built 1936
Lot Size 0.930 Acres
Property Sub-Type Apartment
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 None
Fireplace No
Laundry Common Area
Exterior
Pool Community
Community Features Sidewalks, Pool
Total Parking Spaces 44
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 505184019
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
Listed by Ryan Loria Triqor Group 949-756-3232, DRE #02006138
NEARBY SCHOOL & BUSINESS