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$870,000
Est. payment /mo
10,018 Sqft Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Sunrise Park (33257)
MLS Listing ID CV26070291
HOA Y/N No
Year Built 1967
Annual Tax Amount $10,732
Lot Size 10,018 Sqft
Property Sub-Type Apartment
Property Description
We are pleased to present the opportunity to acquire a five-unit multifamily investment property located at 3737 E Calle De Carlos in Palm Springs, California. Located in the Demuth Park submarket, the offering presents a value-add opportunity for an investor seeking to reposition and stabilize an asset in an established Palm Springs rental market. One unit is currently occupied, providing a new owner with significant flexibility to implement their desired renovation strategy, lease available units at market rents, and establish a new rent roll as the asset is stabilized. Built in 1967, the five-unit building consists of approximately 3,800 square feet of rentable living area situated on an approximately 10,018-square-foot lot. The unit mix consists of five large ±700-square-foot studio floor plans featuring open layouts and private rear patios. Additional features include open parking and an on-site laundry room. Ownership pays water, sewer, and trash, while electricity is individually metered in this all-electric building. Each unit is equipped with wall-mounted air conditioning. Classic interior finishes provide a foundation for a new owner to implement their own renovation and design strategy.The asset is situated in a well-established residential area with convenient proximity to Palm Springs International Airport, Palm Springs High School, and the retail, dining, and entertainment amenities of Downtown Palm Springs. Its central location provides convenient access to major employment, transportation, and lifestyle destinations throughout the city. The offering provides a value-add investor with substantial flexibility to renovate, reposition, and establish a new rent roll at market rates, creating a clear path toward stabilization and improved operating performance.
Location
State CA
County Riverside
Area 332 - Central Palm Springs
Interior
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Sidewalks
Total Parking Spaces 8
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 680045002
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
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Listed by Gisele Pinedo MARCUS & MILLICHAP #02188347
NEARBY SCHOOLS & PROPERTIES
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Marissa Perez
Broker | License ID: 01814964