495 Twin Palms Dr | Palm Springs, CA 92264
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495 Twin Palms Dr
Palm Springs, CA 92264
Twin Palms Villas · Multifamily Property For Sale · 51 Units
Investment Highlights
- Offering actual CAP rate of 5.00% / ProForma CAP rate of 6.45%. The ProForma CAP rate is achieved with all units being at a market rental rate.
- The property is ideally located near the heart of Downtown Palms Springs. Approximately 1.8 miles
- Onsite Pool with BBQ Social Areas & Onsite Laundry Facilities.
- ProForma GRM of 10.41, with a current GRM of 12.89
- Recent Capital Improvements exceeding $250,000 within the last year, including HVAC, plumbing, window & floor replacement.
- Disney is creating Cotino, a planned neighborhood in Rancho Mirage, located 11 miles SE of Palm Springs. Will encompass 1,932 residential unit
PROPERTY FACTS
| No. Units | 51 | Lot Size | 2.92 AC |
| Property Type | Multifamily | Building Size | 37,700 SF |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built/Renovated | 1965/2001 |
| Building Class | B | Parking Ratio | 1.35/1,000 SF |
| No. Units | 51 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 2.92 AC |
| Building Size | 37,700 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1965/2001 |
| Parking Ratio | 1.35/1,000 SF |
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Refrigerator
- Range
- Wi-Fi
- Double Pane Windows
- Patio
- Wheelchair Accessible (Rooms)
Site Amenities
- Laundry Facilities
- Pool
- Property Manager on Site
- Spa
- Grill
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 42 | - | 548 |
| 2+1 | 9 | - | 728 |
PROPERTY TAXES
| Parcel Number | 009-602-247 | Improvements Assessment | $6,450,000 |
| Land Assessment | $2,350,000 | Total Assessment | $8,800,000 |
PROPERTY TAXES
Parcel Number
009-602-247
Land Assessment
$2,350,000
Improvements Assessment
$6,450,000
Total Assessment
$8,800,000
zoning
| Zoning Code | RTP |
| RTP |
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