Palm Springs, CA 92264 561 Highland Drive

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Presented By: Adam Gilbert with The Firm Brokerage;
  • MLS# 219115030PS
  • 08/06/2024
  • Request Tour
  • Request Info

Home Details

Prime Investment Opportunity and Entire City Block for Sale!32 Units Across Three Multi-Family One-Story Buildings. 579, 561, and 509 S. Highland sold collectively as a package for $6,995,000. Key Features:509: 17 units all 1 bedroom 1 bath with 1 reserved as a managers unit.561: 5 units all 1 bedroom 1 bath.579: 10 units 2- 2 beds, 7 1 beds and 1 studioSwimming Pools: Each building has a brand-new pool with permits, new plumbing, new electrical, new plaster, and designer tile. Pools are SOLAR heated.Private Patios: Almost all units feature private patios, offering tenants their own personal outdoor space.Modern Amenities: Updated retro fitted windows are in all buildings, essential for energy efficiency in the desert climate.Conveniences: On-site laundry facilities and trash pickup for all buildings.Secure Entry: All buildings have keypad secure safe entry system.Parking: Ample parking available for all tenants and guests.Landscaping: Freshly landscaped grounds provide an attractive, low-maintenance environment.Proximity: Located near great eateries and shopping, lovely parks, and golf courses and bus stops. Convenient access to the airport ensures easy travel.Economies of Scale - has massive upside thanks to high key count providing opportunity to raise rents and maximize ROI.
Presented By: Adam Gilbert with The Firm Brokerage;

Interior Features for 561 Highland Drive

Bathrooms

Total Baths

Other Interior Features

Air Conditioning Y/NYes
Basement (Y/N)No
Fireplace FeaturesGasStarter, LivingRoom
Fireplace Y/NYes
FlooringTile
Heating Y/NYes
Total Stories1

General for 561 Highland Drive

Additional Parcels Y/NNo
Attached Garage No
Carport Spaces5.0
Carport Y/NYes
CityPalm Springs
Community FeaturesGated, Pool
CountyRiverside
Days on Market36
Directions-
Electric On Property Y/NNo
Garage Spaces0.0
Garage Y/NNo
HOA0.0
HeatingCentral
Home Owner AssocNo
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsOne
Lot Size Square Feet81624.0
Lot Size UnitsSquareFeet
MLS Area334 - South End Palm Springs
MobileHomeRemainsYNNo
New ConstructionNo
NumberOfUnitsTotal31
Open Parking Spaces5.0
Pool FeaturesCommunity, InGround
Private PoolYes
Property TypeResidentialIncome
Rent Control Y/NNo
Security FeaturesGatedCommunity
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories1
Subdivision NameDemuth Park
TermsCash, Conventional, Exchange1031
ViewMountains
View Y/NYes
Waterfront Y/NNo
Year Built1962
Year Built SourceAssessor

Exterior for 561 Highland Drive

Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres1.8738
Lot Size Area81624.0
Lot Size SourceAssessor
Number of Buildings3
Number of Separate Electric Meters31
Number of Separate Gas Meters31
Number of Separate Water Meters3
Open Parking Y/NNo
Parking FeaturesAssigned, OnStreet
SpaNo
Total Parking10.0

Additional Details

Price History

Stephen Pliaconis

Pliaconis Realty Group REALTOR® DRE 02015480
Price $6,995,000
MLS#219115030PS
List Date 08/06/2024
Property Type Multi-Family
Phone 310.658.1749
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