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493 E Vista Chino

Palm Springs, CA 92262
  • $4,200,000
  • STATUS: Active
  • ON SITE: 3 Days
  • ID#: OC22172618
New On Site 3 Days Ago
UPDATED: 146 min ago
$4,200,000
  • 0
    BEDS
  • 0.97
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1963
County:

School Ratings & Info

Listing Agent(s): Brett Bayless of Brett Bayless, Broker (949-887-2465)


Description

We are please to present Las Montanas, a 19 Unit (18+1) apartment community well located in Palm Springs approximately one mile to the boutique shops and restaurants of Downtown. Located across the street from the Margaritaville Resort, the property features an excellent unit mix of Fourteen (14) single story 2 Bed / 2 Bath, Four (4) Single Story 1 Bed / 1 Bath, and one (1) Non Conforming 2 Bed / 1 Bath units. With a robust average unit size of 992 SF, the asset is 100% occupied with significant rental upside of approximately 58% of the in-place rents. This will allow a future owner to acquire an asset with significant upside in one of the best locations of Palm Springs.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-09T00:27:42.27. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Nest Real Estate. Licensed in the State of California, USA.
www.amayarealestategroup.com/homes/131883145
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493 E Vista Chino Palm Springs, CA 92262

  • Price: $4,200,000
  • Status: Active
  • On Site: 3 Days
  • Updated: 146 min ago
  • ID#: OC22172618
0
Beds
0
Baths
0
½ Baths
0.97
Acres
1963
Built
Neighborhood:
Other (Othr)
County:
Riverside
Area:
331 - North End Palm Springs
Property Description
We are please to present Las Montanas, a 19 Unit (18+1) apartment community well located in Palm Springs approximately one mile to the boutique shops and restaurants of Downtown. Located across the street from the Margaritaville Resort, the property features an excellent unit mix of Fourteen (14) single story 2 Bed / 2 Bath, Four (4) Single Story 1 Bed / 1 Bath, and one (1) Non Conforming 2 Bed / 1 Bath units. With a robust average unit size of 992 SF, the asset is 100% occupied with significant rental upside of approximately 58% of the in-place rents. This will allow a future owner to acquire an asset with significant upside in one of the best locations of Palm Springs.
Exterior Features

Lot Features Rectangular Lot Number Of Separate Electric Meters 19 Parking Total 0 Pool Features FencedIn GroundPrivate Pool Private YN Yes Property Attached YN No

Interior Features

Common Walls No Common Walls

Property Features

Additional Parcels YN No Common Interest None Community Features Sidewalks Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 405900 Gross Scheduled Income 345015 Insurance Expense 6175 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Entry Only Listing Terms Cash To New Loan Net Operating Income 174456 New Construction YN No Number Of Separate Gas Meters 19 Number Of Separate Water Meters 1 Operating Expense 158356 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Water Sewer Expense 0 Water Source Public Zoning R2



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-09T00:27:42.27. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Nest Real Estate. Licensed in the State of California, USA.
 
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Nest Real Estate
21804 Cactus Ave ste 101
Riverside CA, 92518
Listing Agent(s): Brett Bayless of Brett Bayless, Broker (949-887-2465)