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$1,095,000price
Beds
Total Baths
4,812Sqft

“La Casa” is located in central Palm Springs and was originally built as a hotel in 1946, then converted to 8 apartments. La Casa still 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. Opportunity to additionally sub-meter the gas to lean out the expenses for a higher return. Existing Gross Scheduled Income is $93,744, with existing rents being ± 10% under market value. This is Fee Simple land, no land lease.

Listing Details

Essential Information

MLS® #: EV17120241MR
Price: $1,095,000
Bathrooms: 0.00
Square Footage: 4,812
Year Built: 1946
Type: Income
Status: Active

Community Information

Address: 1380 N Indian Canyon Dr
Area: Palm Springs Central
City: PALM SPRINGS
County: Riverside
State: CA
Zip Code: 92262

Amenities

Parking Spaces: 2
# of Garages: 2
Garages: Assigned
Has Pool: Yes
Pool: Community, Private

Interior

Heating: Central
Cooling: Central
Fireplace: Yes
Fireplaces: Living Room
# of Stories: 2

Additional Information

Date Listed: May 30th, 2017
Days on Market: 143
Zoning: R3

Financials

$/SqFt: $228
Listing Agent: Nathan Diones (01767311)
Listing Office: REGIONCY REAL ESTATE
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Last updated on November 19th, 2017 at 8:05am PST