x
Address
1380 N Indian Canyon Drive Palm Springs, CA
Price
$ 1,099,000
Property Attributes
  • MLS#EV19213618
  • TypeIncome
  • CountyRIVERSIDE
  • CityPalm Springs
  • AreaCentral Palm Springs
  • NeighborhoodVista Las Palmas
  • Zip92262
  • StyleBungalow
  • Price$ 1,099,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage4812
  • Lot Size0.39 Acres
Listing Provided Courtesy Of:
NATHAN DIONES with REGIONCY REAL ESTATE.
Property Description

"La Casa'' is located in central Palm Springs and was originally built as a hotel in 1946, then converted to 8 apartments. La Casa holds R3 zoning and is surrounded by 5 boutique hotels. Conversion back to hotel is likely or continue as apartments. Attractive unit mix between (2) studios, (3) 1 bedrooms and (3) large 2 bedroom units. This property offers value upside, passive income with light management duties and great tax benefits for the new owner. Brand new roof over 90% of the building. Very large attractive units, each with private yards and 2 with large balconies overlooking the sparkling pool. Opportunity to additionally sub-meter the gas to lean out the expenses for a higher return. On site common laundry room can generate additional income as well. Proforma income is $112,080 Year 9.77 GRM and 6.75% cap rate, only 3 of 8 units are strategically rented in the event a purchaser wants to convert back to boutique hotel quickly. This is Fee Simple land, no land lease.

Price History
9/6/2019 Listed $1,095,000

General Features

Assessments Unknown
Attached Structure Attached
Community Features Suburban
Directions Indian Canyon
Levels Two
Listagentaor East Valley
Listing Agent NATHAN DIONES - BRE#01767311
Listing Agent State License 01767311
MLS Area 332 - Central Palm Springs
Number of Units Leased 3
Price Per Square Foot 228.39
Property Attached Y/N Yes
Source System CRMLS
Subdivision Name Vista Las Palmas (33273)
Subdivision Name Vista Las Palmas (33273)
Total Units 8
Zoning R3

Interior Features

1st Bedroom Area Unit Type Square Feet
2nd Bedroom Area Unit Type Square Feet
3rd Bedroom Area Unit Type Square Feet
Air Conditioning Y/N Yes
Common Walls 2+ Common Walls
Cooling Central Air, Wall/Window Unit(s)
Heating Central, Wall Furnace
Heating Y/N Yes
Interior Features Balcony
Laundry Features Common Area
Laundry Y/N Yes
Studio Area Unit Type Square Feet
Total Stories 2

Exterior Features

Special Listing Conditions Standard
Architectural Style Bungalow
Building Area Total 4812.00
Carport Spaces 2.00
Construction Materials Stucco
Garage Spaces 0.00
Lot Features 2-5 Units/Acre
Lot Size Acres 0.3900
Lot Size Area 16988.0000
Lot Size Source Assessor
Lot Size Square Feet 16988.00
Lot Size Units Square Feet
Number of Buildings 1
Number of Separate Electric Meters 5
Number of Separate Gas Meters 1
Number of Separate Water Meters 1
Parking Features Assigned
Parking Y/N Yes
Pool Features Community
Roof Elastomeric, See Remarks
Sewer Public Sewer
Total Parking 2.00
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 92262

Price
AVG $2.01M
$1.1M
Visits
AVG 43
6
Year Built
AVG 1962
1946
Walkscore
AVG 43
56
Data Provided by Walkscore ® not using MLS data

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