$3,500,000
1433 1455 N Indian Canyon Drive
Palm Springs, CA 92262
1936
Year Built
Riverside
County
Apartment
Property Type
About this home
We are pleased to present Sunset Palms Apartments, a well-maintained 24-unit apartment community located in Palm Springs, CA. The property offers an attractive unit mix consisting of spacious studios, one-bedroom, and two-bedroom units across three side-by-side individual parcels. Most units have been extensively upgraded with wood-look porcelain tile flooring, upgraded kitchens and bathrooms, stainless steel sinks, and new dual pane windows and sliding glass doors. Community amenities feature two sparkling swimming pools within gated courtyards, new ductless mini split air heating and air conditioning systems, and ample open parking. Sunset Palms offers an exceptional value-add investment opportunity with approximately 28% upside in rental income. The property is currently generating a 5.5% cap rate on in-place rents, with the potential to achieve an 8.2% cap rate as rents are brought to market, providing investors with a clear path to increased cash flow and long-term appreciation.
Property Details
Architecture
Features & Amenities
Property Features
Community
Tax & Financial
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Mortgage Estimate
$18,628/mo
20% down · 7% APR · 30-yr fixed
Estimate only. Does not include taxes, insurance, or HOA.
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