John Bomgardner

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Listing provided courtesy of Compass - MLS#22182577MLS Provider

225 E Avenida PalmeraPalm Springs, CA 92264

Multi-Family · 26 Beds · 15,973 Sq. ft. | 0.93 Acres

$4,725,000 Active

Overview

Time on Site:
458 days
Visits:
0

SELLER FINANCING IS AVAILABLE - INQUIRE FOR TERMS. This Spanish Hacienda style apartment complex, dubbed Casa de Palmera, comprises three separate buildings totaling 18 units on nearly an acre in Tahquitz River Estates. It's rare that a property of this caliber and potential becomes available in Palm Springs. All units are equipped with central AC, full appliance suites, oversized living spaces and bedrooms, and many units have one or two large private patios. All tenants are month-to-month and many are long-term residents. Unit Breakdown: four - 2BR/2.5BA two-story townhouses, four - 2BR/2BA single-level units, four - 1BR/1BA single-level units, and six - 1BR/1BA single-level casita units with no unit above. All units are currently below market rents. Other property highlights include: outstanding mountain views, lush green spaces, close proximity to public transportation, food, grocery, financial institutions, and downtown Palm Springs, owned laundry facilities, and abundant value-add opportunities.

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Facts & Features

  • Type Multi-Family
  • Sq. ft. 15,973
  • Price/Sq.ft. $295
  • Lot 0.93 Acres

General

Association/HOA
  • Association: No
Income/Expenses
  • Gross Income: 335100.0
  • Net Operating Income: 234504.0
Building Information
  • New Construction: No
  • Year Built: 1976
Location/Region
  • Country: US
  • County Or Parish: Riverside
  • MLS Area Major: 334 - South End Palm Springs
  • Subdivision Name: Tahquitz River Estates
Rent/Lease Information
  • Land Lease: No
  • Tenant Pays: Electricity,Gas,Insurance
General Information
  • Parcel Number: 508345005
  • Property Type: Residential Income
  • Senior Community: No
  • Special Listing Conditions: Standard
  • Zoning: R3

Interior

Beds/Baths
  • Bathrooms Full: 0
  • Bathrooms Half: 0
  • Bathrooms One Quarter: 0
  • Bathrooms Three Quarter: 0
  • Bathrooms Total: 30
  • Bedrooms Total: 26
Building Interior
  • Building Area Total: 15973.0
General Information
  • Appliances: Dishwasher,Microwave,Oven,Refrigerator
  • Entry Location: Ground Level - no steps
  • Fireplace Features: None
  • Fireplace: No
  • Foundation Details: Slab
  • Interior Features: Ceiling Fan(s)
  • Laundry Features: Common Area
  • Levels: Multi/Split
  • Living Area: 15973.0
  • Living Area Source: Assessor
  • Spa Features: Heated,In Ground
  • Spa: Yes
  • Stories Total: 2

Exterior

Parking Information
  • Parking Features: Covered,Carport,Detached Carport,On Street,Uncovered
  • Parking Total: 26.0
Lot Information
  • Additional Parcels: No
  • Lot Features: Lawn,Landscaped
  • Lot Size Acres: 0.93
  • Lot Size Area: 40511.0
  • Lot Size Square Feet: 40511.0
  • Lot Size Units: Square Feet
  • Number Of Buildings: 3
  • Number Of Separate Electric Meters: 18
  • Number Of Separate Gas Meters: 18
  • Water Source: Public
Waterfront/View
    Building Exterior/Construction
    • Architectural Style: Spanish
    • Attached Garage: No
    • Construction Materials: Stucco
    • Patio And Porch Features: Enclosed
    General Information
    • Carport: Yes
    • Number Of Units Leased: 18
    • Number Of Units Total: 18
    • Pool Features: Filtered,In Ground
    • Sewer: Sewer Tap Paid

    Neighborhood

    Palm Springs

    Nestled at the base of the San Jacinto Mountains, the beautiful desert resort city of Palm Springs is an international destination for outdoor sport enthusiasts, Mid-Century architecture admirers, and fans of the glamour of Golden Era Hollywood. Palm Springs is located approximately 110 miles southeast of Los Angeles and 140 miles northeast of San Diego, making it an ideal distance for Southern California residents to escape for a quick getaway weekend or the perfect locale for a second home.
    Learn More

    Community

    92264 (Palm Springs) Demographics
    59
    Median Age
    400
    Population Density (per sq. mile)
    51%
    College Educated
    $60,318
    Estimated Median Income
    7,506
    Estimated Total Home Owners
    3,772
    Estimated Total Renters
    67% / 33%
    Estimated Owner / Renter Divide
    2
    Estimated Average Household Size
    Community data courtesy of LiveBy, Inc.

    Schools

    Elementary Schools
    2
    Public
    Cahuilla Elementary
    • Grades: KG - 5
    • Enrollment: 483
    4
    Public
    Cielo Vista Charter
    • Grades: KG - 8
    • Enrollment: 869
    2
    Public
    Desert Learning Academy
    • Grades: KG - 12
    • Enrollment: 215
    Middle Schools
    4
    Public
    Cielo Vista Charter
    • Grades: KG - 8 /
    • Enrollment: 869
    2
    Public
    Desert Learning Academy
    • Grades: KG - 12 /
    • Enrollment: 215
    High Schools
    2
    Public
    Desert Learning Academy
    • Grades: KG - 12 /
    • Enrollment: 215
    School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

    Monthly Cost

    $
    $ %
    %
    $
    $
    * Assumes 7.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.

    Market Data

    Based on the last 30 days in this zip code

    $1,079,838
    Median Sales Price
    $557
    Median Price per Square Foot
    170
    Properties Sold
    122
    New on Market
    64
    Average Days on Market
    484
    Properties for Sale
    Calculations provided by Reliance Network

    History

    Date Event Value Agent
    9/8/2022Source: CRMLS Added to Database
    September 08, 2022