Listed by Le Investment Group
$7,500,000
495 E Twin Palms Drive
Details
APN 009602247
Property Type Multifamily
Sub Type Apartment Building
Units 51
Cap Rate 7.90%
Buildings 5
Stories 1
Acreage 2.340
Zoning Public Rec
Multifamily | 7.90% CAP | 51 Units
Marketing description
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 ownerships 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
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Listed by Le Investment Group
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