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965 E Vista Chino, Palm Springs, CA 92262

$1,295,000
Property Type: Residential Income Bedrooms: 8 Baths: 8 Square Footage: 4,372 Status: Active
Current Price: $1,295,000 List Date: 2/04/2025 Last Modified: 2/04/2025

Description

Exceptional investment opportunity in the heart of Palm Springs - walking distance to downtown. Two neighboring (4) Four-unit Apartment Buildings being offered individually for sale, providing stable income and future value-add opportunity -- buy one or buy them both for increased ROI. Each building (4-plex) offers Four sizable 2-bedroom/2-bath apartments, each with private patios, its own washer/dryer and enclosed 1-car garage. Upstairs units have amazing mountain views! Building is 4,372 SF on a 7,841 SF lot. The community is comprised of Four Buildings (each a 4-plex) with a shared pool. Landscape and pool maintenance expenses are shared between the 4 buildings. Currently 100% occupied with great historic occupancy rates. Some rents are currently below market and the new owner would have the opportunity to increase the NOI, as rental rates have increased significantly over the last 36 months. This is a great opportunity to purchase a fully leased, income producing asset in the VERY HOT Palm Springs market. Palm Springs and the Coachella Valley are experiencing a period of massive growth - don't miss out! Reach out to Listing Agent for more information. Please do not disturb the tenants.

More Information MLS# 219114912

Listing Location and Property Info

Status: Active Listing Date: 2024-08-03 Original List Price: 1375000 List Price: $1,295,000 Current Price: $1,295,000 Property Sub-Type: Quadruplex Street #: 965 Street Direction: E Street Name: Vista Chino County: Riverside State: CA Zip Code: 92262 Area: 332 - Palm Springs Central Subdivision: Desert Arches Country: US

General Property Information

Total Units: 4 Total Bedrooms: 8 Full Baths: 8 Total Baths: 8 Approx SqFt: 4372 SqFt Source: Assessor Fireplace: Yes Building # of Stories: 2 Total Fireplaces: 4 Pool: Yes Paved: Yes Lot Size: 7841 Lot Size Source: Assessor Year Built: 1988 Cross Streets: Vista Chino & Avenida Caballeros

Listing Info

Number of Buildings: 1 Water Heater: Yes Laundry: Yes Laundry Equipment: Own Elevator: No

Tax Info

Tax Mello Roos: No

Property Info

Senior Community: No Gated Community: No

Status Change Info

Status Change Date: 2025-02-03

Counts

# Electric Meters: 4 # Gas Meter: 4 # of Dishwashers: 4 # of Disposals: 4 # of Patios: 6 # of Ranges: 4 # of Refrigerators: 4 # of Rented Garages: 4 # Water Meters: 1

Water

Water District Name: DWA

Parking SpacesInformation

Total Garage Spaces: 4 Total Parking Spaces: 8

Unit Information

Number of Units Leased: 4

Property Features

Owner Pays: Water; Other Tenant Pays: Air Cond/Heat Main; Cable TV; Electricity; Gas Sale Type: Standard Listing Terms: 1031 Exchange; Cash; Cash to New Loan; Conventional; Submit Possession: Close Of Escrow Lot Description: Curbs; Landscaped; Lawn; Level; Sidewalks; Single Lot; Storm Drains; Street Lighting; Street Paved; Street Public; Utilities Underground Lot Location: Corner Lot; Near Public Transit View Type: Mountain(s) Other Structural Features: Balcony Property Condition: Repair Cosmetic; Updated/Remodeled Irrigation: Sprinkler System; Sprinkler Timer Disclosures: Easements; Homeowners Association Community Features: Community Mailbox Building Style: Contemporary Levels: Two Appliances: Dishwasher; Disposal; Dryer; Exhaust Fan; Freezer; Gas Range; Refrigerator; Washer Range Hood: Yes Kitchen Features: Laminate Counters; Quartz Counters Exterior Construction: Stucco Foundation: Permanent; Slab Flooring: Mixed Cooling Type: Air Conditioning; Ceiling Fan(s); Central Air Pool Location: Community Pool Accessories: Safety Fence Pool Construction: Gunite; In Ground Pool Description: Community; Gunite; Heated; In Ground Heating: Central; Forced Air Heating Fuel: Natural Gas Fireplace Location: Living Room Fireplace Features: Unknown Rooms: Dining Area; Living Room Interior Features: Living Room Balcony TV Services: Cable TV Laundry: In Closet; In Garage Security Safety: None Disability Access: No Interior Steps Patio Features: Covered Sewer: In, Connected and Paid Water: Mutual Water Source; Water District Water Heater Feature: Water Heater Unit Parking: Garage Door Opener; Guest; On Street Land Lease Type: Fee Simple

Documents

Listing Office: Coldwell Banker Realty
Listing Agent: David Goldberg
Last Updated: February - 04 - 2025
Information deemed reliable but not guaranteed.

 

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