$ 3,850,000
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$3,850,000
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0
Bed -
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Bath -
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SqFt
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About the Listing CDAR-oD6034 - CDAR-d85214
Wilson Meade Commercial is pleased to exclusively present the opportunity to acquire the Hermosa Palms, a 20-unit multi-family asset in Palm Springs.This charming, single-story property is comprised of studio units arranged around a central pool, and is located in close proximity to Palm Springs' renowned shopping and dining district.The preferred location, coupled with the highly desirable studio mix, has contributed to the property's historically low vacancy rate.The units have been meticulously maintained, with most remodeled to include tile/vinyl flooring and modern fixtures. Each unit features a kitchen, walk-in closet, full bathroom, and LED lighting throughout.The Hermosa Palms offers new ownership a well-positioned, turnkey investment with strong historical performance and continued upside potential through rent growth.*Ask about the assumable 3.45% interest rate financing!CAP Rate - 6.49% | GRM - 10.89 | Cash Flow - 7.59%
Listing Highlights
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances: Water Heater
- Air Cond: Wall/Window Unit(s)
- Heating: Wall Furnace
- Fireplaces:
- Floor: Tile,Vinyl
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 13
- Zoning: R-2
- Roof:
- Others: 2+ Total Units
- Sewer:
- Parking Features: Unassigned
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 507061022
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
588 E Mel Ave Palm Springs, CA 92262
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