508 S Desert View Dr
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508 S Desert View Dr
5 Unit Apartment Building $1,264,212 CAD ($252,842 CAD/Unit) 3.95% Cap Rate Palm Springs, CA 92264
Investment Highlights
- 100% Occupied Five Units (four studio | one 2bed/2bath)
- Below market rents
- Parking – five onsite spots
- All Tenants on month-to-month leases
- On site laundry facilities – landlord Owned
- Utilities – All paid by landlord
Executive Summary
Coldwell Banker Commercial Lyle & Associates is pleased to offer for sale the fee simple interest in 508 Desert View Drive, a well-maintained five-unit apartment complex located in a highly desirable Palm Springs Area. Built in 1960, the property features a mix of four studio units and one two-bedroom, two-bathroom unit. Additionally, the property offers shared laundry facilities, a swimming pool, and five on-site parking spaces.
This prime property is ideally situated just 0.3 miles from Palm Springs International Airport and only 2.5 miles from downtown Palm Springs, offering convenient access to key amenities and transportation hubs.
The property is currently 100% occupied, with all tenants on month-to-month leases. There is significant upside potential in the property due to its current below-market rents, presenting a unique opportunity for value-add investors.
This prime property is ideally situated just 0.3 miles from Palm Springs International Airport and only 2.5 miles from downtown Palm Springs, offering convenient access to key amenities and transportation hubs.
The property is currently 100% occupied, with all tenants on month-to-month leases. There is significant upside potential in the property due to its current below-market rents, presenting a unique opportunity for value-add investors.
Property Facts
| Price | $1,264,212 CAD | Apartment Style | Garden |
| Price Per Unit | $252,842 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 3.95% | Building Size | 2,372 SF |
| Gross Rent Multiplier | 13.95 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1960/2007 |
| Property Subtype | Apartment | Parking Ratio | 2.11/1,000 SF |
| Price | $1,264,212 CAD |
| Price Per Unit | $252,842 CAD |
| Sale Type | Investment |
| Cap Rate | 3.95% |
| Gross Rent Multiplier | 13.95 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 2,372 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1960/2007 |
| Parking Ratio | 2.11/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Washer/Dryer Hookup
- Wheelchair Accessible (Rooms)
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | $1,229 CAD | 300 |
| 2+2 | 1 | $2,704 CAD | 800 |
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PROPERTY TAXES
| Parcel Number | 680-032-001 | Improvements Assessment | $654,712 CAD |
| Land Assessment | $218,237 CAD | Total Assessment | $872,950 CAD |
PROPERTY TAXES
Parcel Number
680-032-001
Land Assessment
$218,237 CAD
Improvements Assessment
$654,712 CAD
Total Assessment
$872,950 CAD
zoning
| Zoning Code | R2 |
| R2 |
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508 S Desert View Dr
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