$1,070,000
$1,100,000
2.7%For more information regarding the value of a property, please contact us for a free consultation.
623 S GRENFALL RD Palm Springs, CA 92264
0.3 Acres Lot
Key Details
Sold Price $1,070,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Warm Sands
MLS Listing ID 19426896PS
Sold Date 07/29/19
HOA Y/N No
Year Built 1960
Lot Size 0.301 Acres
Property Description
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.
Location
State CA
County Riverside
Area 334 - South End Palm Springs
Interior
Fireplace No
Exterior
View Y/N No
Total Parking Spaces 7
Private Pool No
Building
Story 1
New Construction No
Others
Senior Community No
Tax ID 508212002
Special Listing Condition Standard
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Bought with Alan Wachman • Miller & Desatnik Realty Co.