Properties
Palm Springs, CA 92264 495 E Twin Palms Drive
$7,999,888
34 more
Presented By: DARREN CORREA with LE INVESTMENT GROUP; 714-310-2840
Baths • 1
SQFT • 37,700
Home Details
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 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, floor replacement, window replacement, HVAC replacement, rehab expenses, landscaping expenses, plumbing replacement, and numerous other quality updates
Presented By: DARREN CORREA with LE INVESTMENT GROUP; 714-310-2840
Interior Features for 495 E Twin Palms Drive
Other Interior Features
Common WallsTwoCommonWallsOrMore
Laundry FeaturesCommonArea
Total Stories1
Other Rooms
Entry Level1
General for 495 E Twin Palms Drive
Additional Parcels Y/NNo
Building Area UnitsSquareFeet
Cap Rate8.5
CityPalm Springs
Community FeaturesSidewalks, Pool
CountyRiverside
DirectionsFrom S Palm Canyon Dr, head east on E Twin Palms Dr. Property will be on the right, just past S Camino Real.
Electric Expense40850
Entry Location1
Fuel Expense40850
Garage Spaces
Garage Y/NNo
Gross Income1119000
Insurance Expense25500
Land Lease Amount4060
Land Lease Amount FrequencyMonthly
Land Lease Y/NYes
LevelsOne
Listing TermsConventional
Lot Size Square Feet101930
Lot Size UnitsSquareFeet
MLS Area334 - South End Palm Springs
Net Operating Income1177470
New ConstructionNo
Number Of Units Total51
Open Parking Spaces56
Operating Expense497634
Pool FeaturesCommunity, Fenced
PostalCityPALM SPRINGS
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesCommunity
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories Count1
Subdivision NameTwin Palms (33512)
Tax Lot247
Trash Expense40850
Water Sewer Expense40850
Year Built1965
Year Built SourcePublicRecords
ZoningRTP
Exterior for 495 E Twin Palms Drive
Building Area Total37700
Lot FeaturesCornerLot
Lot Size Acres2.34
Lot Size Area101930
Lot Size SourceAssessor
Number of Buildings5
Number of Separate Electric Meters51
Number of Separate Gas Meters1
Number of Separate Water Meters1
Private PoolNo
SpaYes
Total Parking56
Water SourcePublic
Additional Details
Price History
Schools
High School
Hubert H Humphrey Middle School
Middle School
N/A
Elementary School
Big Hollow Elementary School
