561 Highland Drive Palm Springs, CA $ 6,995,000
561 Highland Drive
$ 6,995,000
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561 Highland Drive

Palm Springs, CA, 92264
$ 6,995,000
Baths0.0

Monthly Estimate*

$ 41,894

Listed by The Firm Brokerage
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Studio

Multi-Family Home for sale in Palm Springs, CA

for $6,995,000. This home was built in 1962 on a lot size of 1.8738.

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.

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Multi-Family Active

Price

$ 6,995,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 0

Style

Lot Size

1.8738

Year Built

1962

Town/City

Palm Springs

County/Region

Riverside

MLS | Web ID

219115030PS

Days on Market

46

Features
General
Heating Central
HOA 0.0
Garage Spaces 0.0
Pool Features Community InGround
Security Features GatedCommunity
Year Built 1962
View Mountains
Stories 1
Levels One
Community Features Gated Pool
County Riverside
New Construction N
Property Type ResidentialIncome
Home Owner Assoc N
Attached Garage N
Subdivision Name Demuth Park
Garage Y/N N
Special Listing Conditions Standard
Status Active
Directions -
City Palm Springs
View Y/N Y
Senior Community Y/N N
Open Parking Spaces 5.0
NumberOfUnitsTotal 31
MLS Area 334 - South End Palm Springs
Lot Size Units SquareFeet
Lot Size Square Feet 81624.0
Private Pool Y
Waterfront Y/N N
Carport Spaces 5.0
Carport Y/N Y
Terms Cash Conventional Item1031Exchange
Property Attached Y/N N
Land Lease Y/N N
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 36
Standard Status Active
Year Built Source Assessor
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Interior
Flooring Tile
Fireplace Features GasStarter LivingRoom
Total Stories 1
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N Y
Electric On Property Y/N N
Total Baths 0
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Exterior
Parking Features Assigned OnStreet
Total Parking 10.0
Lot Size Area 81624.0
Number of Buildings 3
Spa N
Lot Size Acres 1.8738
Lot Size Source Assessor
Number of Separate Water Meters 3
Number of Separate Gas Meters 31
Number of Separate Electric Meters 31
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 561
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* Excluded Features
List By
The Firm Brokerage

Broker

(760) 408-8874

Phone

Affordability Calculator

$41,894
Per Month
100%
0%
0%
Monthly Principal & Interest
$41,894
Monthly Property Taxes
--
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 5.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
8/6/2024$6,995,000 Listed Price

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561 Highland Drive, Palm Springs, CA, 92264 is a Multi-Family Home for sale at $6,995,000 with a lot size of 1.8738. 561 Highland Drive is a studio with 0.0 baths and was built in 1962. The property's zip code is 92264 which is in Palm Springs, CA