495 Twin Palms Dr - Apartments FOR SALE


Palm Springs, CA 92264
$8,999,888 USD
714-423-3819
495 Twin Palms Dr, Palm Springs, CA for Sale
$8,999,888 USD
Apartments - FOR SALE
1/26
null | 7.89% Cap Rate

495 Twin Palms Dr
Palm Springs, CA 92264


HIGHLIGHTS

  • ProForma CAP rate of 7.89%. 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 7.86, with a current GRM of 8.62
  • Located near the heart of Downtown Palms Springs.

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 (42)One bedroom / One bathroom units and (9) 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, ?oor replacement, window replacement, HVAC replacement, rehab expenses, landscaping expenses, plumbing replacement, and numerous other quality updates.

FOR SALE DETAILS

PRICE

$8,999,888 USD

PRICE/SF

$239 USD /SF

# OF UNITS

51

PRICE/UNIT

$176,468

CAP RATE

7.89%

% 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

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

Anthony LeLe Investment GroupMore Info
714-423-3819

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