495 Twin Palms Dr - Apartments FOR SALE


Palm Springs, CA 92264
$7,999,888 USD
714-423-3819
495 Twin Palms Dr, Palm Springs, CA for Sale
$7,999,888 USD
Apartments - FOR SALE
1/24
null | Request Cap Rate

495 Twin Palms Dr
Palm Springs, CA 92264


HIGHLIGHTS

  • ProForma CAP rate of 8.50%. The Pro Forma CAP rate is achieved with all units being at a market rental rate.
  • Recent Capital Improvements exceeding $300,000 within the last year.
  • ProForma GRM of 7.15, with a current GRM of 7.76
  • Located near the heart of Downtown Palms Springs.
  • Tenants pay for electric and gas through Ratio Utility Billing System (RUBS)

OVERVIEW

The Twin Palms Villas lot totals at 2.34 acres and consisting of 5 buildings and multiple parking lots. The property is located at 495 E Twin Palms Drive, Palm Springs, CA, and is conveniently located a short distance from the Downtown Palm Springs, the Historic Tennis Club, the Palm Springs Art Museum, the Palm Springs International Airport & many major regional employers. This 51 unit apartment community is composed of (41)One bedroom / One bathroom units and (10) Two bedroom /One bathroom units. The current ownership’s emphasis has been on quality updates which include capital improvements exceeding $300,000 within the last year. Some of these improvements include parking lot re-done, floor replacement, window replacement, HVAC replacement, rehab expenses, landscaping expenses, plumbing replacement, and numerous other quality updates.

FOR SALE DETAILS

PRICE

$7,999,888 USD

PRICE/SF

$212 USD /SF

# OF UNITS

51

PRICE/UNIT

$156,861

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Twin Palms Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1965

PARKING SPACES

51

LAND DETAILS

LAND ACRES

2.91 AC

LAND SF

126,649 SF

ZONING

RTP

APN/PARCEL ID

009-602-247

ASK ABOUT THIS PROPERTY

Anthony LeLe Investment GroupMore Info
714-423-3819

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Anthony LeLe Investment GroupMore Info
714-423-3819

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.