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RYAN STEELE

ryan.steele@lptrealty.com +1(818) 900-1859

$ 925,000

Est. payment | -/mo

7 Beds

7 Baths

4,267 SqFt

Save

$ 925,000

Est. payment | -/mo

Save

7 Beds

7 Baths

4,267 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 4,267 sqft

Price per Sqft $216

Subdivision Warm Sands

MLS Listing ID 219151275DA

Bedrooms 7

Three Quarter Bath 7

Construction Status Repair Cosmetic

Year Built 1958

Lot Size 0.340 Acres

Property Sub-Type Multi-Family

Property Description

Sago Palms -- Six-Unit Multifamily Property in the heart of Palm Springs.Located in the Warm Sands area of Palm Springs, Sago Palms is a unique six-unit multifamily property with a history as a former hotel. The property offers a mix of residential units, attractive amenities, and stunning mountain views.The property consists of:One, 2-bedroom, 2-bathroom unit with -- currently needs workThree, 1-bedroom, 1-bathroom units -- currently in rentable condition andTwo studio apartments.A total of three gas fireplaces in various units. Community poolShared laundry room -- no additional incomeStreet/open parkingSeparate utility metersLeased solar systemUpgraded plumbingTwo tankless water heatersStunning mountain viewsThe property is being sold AS-IS.There are currently three tenants and one owner-occupant living on the property. All occupants are on month-to-month rental agreements, providing flexibility for a future owner.Current Rental Income:One bedroom units: $1200 per monthTwo bedroom units: $1600 per month.Studio apartments: $1085 per month.Vacancy in on Studio and the 2 bed, 2 bath unit (needs remodeling).Solar lease is $524.85 per month with Sun run. Expires in 2035. Current buy out is $46,455.88.

Location

State CA

County Riverside

Area Palm Springs South End

Interior

Heating None

Cooling Central

Flooring Other

Equipment Garbage Disposal, Range/Oven, Refrigerator

Laundry Community

Exterior

Parking Features Unassigned

Garage Spaces 8.0

Pool Community, Gunite, In Ground

Community Features Community Mailbox

View Y/N Yes

View Mountains

Building

Lot Description Secluded

Story 1

Sewer Unknown

Level or Stories One

Structure Type Stucco

Construction Status Repair Cosmetic

Others

Special Listing Condition Standard

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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

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Schools and Properties Nearby

595 S Thornhill RD Palm Springs, CA 92264