623 S Grenfall Road
Palm Springs, CA 92264

$1,200,000

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.

Details

MLS#19426896PS
Sub-TypeResale
StatusActive
Year1960
Days On Site24

Features

SQ Feet4,300
Units7
Building(s)1

Market Activity 92264

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Area Information

StateCA
CountyRiverside
CityPalm Springs
Zip Code92264
Area334 - South End Palm Springs
Listing VS Median (in 92264)
Price:
$1,200,000
low | high
Med:
$364,900
100% of Average
SqFt:
4,300
low | high
Med:
1,556
100% of Average
$ / SqFt:
$279
low | high
Med:
$236
65.505880168187% of Average
On Site:
24
low | high
Med:
25
96% of Average
Listing Updated: 02/17/2019
MLS Number: 19426896PS
Listing Provided By:
MD McLean  of  McLean Company Rentals
MLS Internet Data Exchange (IDX) information is provided exclusively 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, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.