623 S Grenfall Rd, Palm Springs, 92264

REDUCED 2% Residential Income - Apartment Building For Sale in WARM SANDS

$1,100,000

8Beds
8Baths
4,300Sqft
1960Built
119DOM
MLS® #: 19426896PS
Active, 119 Days on Market

Rare opportunity to own an architecturally significant property in the desirable Warm Sands community. Currently utilized as a 7 unit apartment complex, each unit is a single story floor plan, surrounded by a central and private pool, private back patios and well maintained grounds. Opportunity to continue its use as an apartment complex, or convert to boutique style short-term rental units similar to many already converted on Grenfall street; The Warm Sands neighborhood is a thriving boutique hotel and short-term rental market with soaring occupancy and increasing nightly rates. A strong long-term rental market with high demand from tenants also provide the future buyer with options to maintain a stabilized income producing asset with low vacancy rate and gradually increasing rents on renewals and turnovers. Tenants love the property and there is a waiting list of tenants always seeking the opportunity to rent at this property.

Essential Information

MLS® #: 19426896PS
Price: $1,100,000
Bedrooms: 8
Bathrooms: 8.00
Square Footage: 4,300
Acres: 0.00
Year Built: 1960
Type: Residential Income
Sub-Type: Apartment Building
Status: Active

Community Information

Address: 623 S Grenfall Rd
Area: Palm Springs South End (334)
Subdivision: WARM SANDS
City: Palm Springs
County: Riverside
State: CA
Zip Code: 92264

Amenities

Parking Spaces: 7
Parking: Parking Space

Interior

Interior Features: Other
Heating: Other
Cooling: Other
# of Stories: 1

Additional Information

Date Listed: January 24th, 2019
Days on Market: 119
Zoning: R2
HOA Fees: 0.00

Listing Details

Listing Agent: Md Mclean(01843447)
Listing Office: McLean Company Rentals
Contact Ron Parks: Phone: 760-883-8613

Financials

$/SqFt: $256
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