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Listed by Tyler Leeson • Marcus & Millichap RE Invest
$ 5,995,000
Est. payment /mo
Active
579 South Highland Drive Palm Springs, CA 92264
27,267 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 27,267 sqft
Price per Sqft $219
Subdivision Demuth Park
MLS Listing ID OC-25082158
Year Built 1955
Lot Size 1.400 Acres
Property Sub-Type Apartment
Property Description
Highland Portfolio is a 3-property, 31-unit multifamily investment portfolio located in Palm Springs, CA. Seller financing is available on the Highland Portfolio. Situated on three neighboring parcels encompassing a combined 1.40 acres, the Highland Portfolio offers a mix of studio, one, and two-bedroom floor plans. The majority of the units feature one bedroom, along with 1, studio unit and 2, two-bedroom units - ideally suited for singles, couples, and retirees seeking well-located housing. The portfolio features attractive amenities including secure keypad entry, private patios, swimming pools, ample surface parking, and on-site laundry facilities. Additionally, the properties feature exclusively single-story construction, a highly desirable characteristic to prospective renters. Furthermore, the Highland Portfolio has recently undergone significant capital improvements including new plumbing, electrical, plaster, and tile as well as updated building systems including roofing, solar panels, and more. The Highland Portfolio is situated in an optimal Palm Springs location, just moments away from shops and restaurants at El Cielo Center and The Springs. The properties are within a 0.85-mile radius of Demuth Park and Sunrise Park, two sprawling community centers granting residents convenient access to a plethora of outdoor activities. Additionally, the Highland Portfolio benefits from its close proximity to Palm Springs International Airport, a major employment and economic driver for the area, with tourism being a significant part of the local economy. Furthermore, Ramon Road, situated just to the north of the Portfolio, provides easy access to Downtown Palm Springs, the heart of the city featuring a plethora of unique shops, restaurants, and entertainment options. The portfolio's desirable single-story construction and upgraded facilities are primary draws for potential renters. The overall demand for well-maintained and amenitized rental units will be a key driver in the continued growth and success at the Highland Apartments.
Location
State CA
County Riverside
Area 334 - Palm Springs South End
Zoning R2
Interior
Heating None
Laundry Community
Exterior
Parking Features Gated
Pool Community
Community Features Curbs, Gutters, Sidewalks
Building
Lot Description Level with Street
Sewer Public Sewer