350 PALM CANYON Drive $4,500,000


    350 PALM CANYON Drive Palm Springs, CA 92264

    • 30 Beds
    • 30 Baths
    • 0 sq.ft.
    • MultiFamily
    MLS# 19427444PS | Active
    Days On Market: 82 3 Views
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    Property Details

    Premium South Palm Canyon location surrounded by boutique hotels and restaurants, El Moro Villas includes two parcels totaling just under an estimated 1.5 acres of land lot size. Options are limitless for a new buyer. The property historically used at one time as a hotel / short-term offering, and for the past 15+ years has been utilized as long-term fully furnished studio apartments. The property currently includes 30 total units, plus an onsite office and an additional large storage or small retail / restaurant space having the required plumbing. Current tenants experience high quality residential living with resort like amenities such as an oversized pool and spa, lush landscaping and all-inclusive utilities including cable and internet. New buyer may capitalize on the surging boutique hotel demand or continue operating as studio apartments.

    • General Features
      • Net Operating Income 196000.00
      • Year Built 1960
      • County Riverside
      • Area Palm Springs South End (334)
      • Total Units in Complex 30
      • Special Conditions Standard Sale
      • Senior Community No
      • Adjusted Gross Income 0.00
      • Total Annual Expense 128000.00
      • Gross Operating Imcome 324000.00
    • Building Features
      • Cooling Type Air Conditioning, Ceiling Fan(s)
      • Heating Type Wall Electric
      • Appliances Refrigerator
      • Cooking Appliances Microwave
    • Room Features
      • Unit 1 Bedrooms 30
      • Unit 1 Bathrooms 30.0
    • Property Features
      • ParkingSpacesTotal 30
      • Lot Size Sq Ft 61,000
      • Parking Type Parking Space
      • Pool Descriptions Indoor Pool
      • Tv Services Cable TV


    Steve Lautenbach


    DRE #01866311

    Palm Springs Office

    Cell: 760-501-1233


    92264 (Palm Springs) Demographics

    58Median Age
    378Population Density (per sq. mile)
    45%College Educated
    $45,166 Estimated Median Income
    6,786Estimated Total Home Owners
    4,216Estimated Total Renters
    62% / 38%Estimated Owner / Renter Divide
    3Estimated Average Household Size
    19,778Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days

    $369,000 Median Sales Price
    217 Homes Sold
    234 New On Market

    Average Days on Market

      Properties for Sale

        Property History

        Date Event Price Percent Change
        -- Current Price Source New Value: $4,500,000
        3/4/2019 12:17:55 PM Price Reduced Source New Value: $4,500,000
        3/4/2019 12:16:23 PM Price Reduced Source New Value: $4,500,000 -5.26%
        1/28/2019 9:15:00 AM New in Database Source New Value: $4,750,000

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        Based on information from CARETS as of 4/21/2019 7:17:30 AM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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