1433 1455 N Indian Canyon Drive, Palm Springs, CA 92262
- $3,500,000
- List Price
- $3,500,000
- Status
- ACTIVE
- MLS#
- PW26156366
- Year Built
- 1936
- Lot Size
- 40,510
- Acres
- 0.93
- Lot Location
- Rectangular Lot
- Days on Market
- 12
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- One Level
- Neighborhood
- Vista Las Palmas (33273)
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.
Additional Information
- Pool Description
- Community
- Heat
- None
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 24
- Gross Scheduled Income
- $354,960
- Operating Expense
- 151933
Listing courtesy of Listing Agent: Ryan Loria (Ryan.Loria@TriqorGroup.com) from Listing Office: Triqor Group.
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