CBRE is proud to exclusively present a multifamily opportunity located in the City of Palm Springs!
219-220 S Saturmino Drive is located in a mature, highly desirable, low-traffic neighborhood of Palm Springs. It is a short drive from a variety of shopping venues, restaurants, entertainment, and medical facilities near historic Downtown Palm Springs.
219-220 S Saturmino Drive is a rare, single-story, 14-unit property. Built in 1963 and 1972, it is now available for the first time in over 35 years. The property is situated on two parcels with a total of ±20,037 square feet of land, with a total building size of ±7,648 square feet.
There are seven units within each building, with an excellent unit mix of two-bedroom/one-bathroom and two-bedroom/two-bathroom units averaging 769 square feet.
219-220 S Saturmino Drive has historically high occupancy and is generating $11,870 in monthly rental income. There is significant rental upside of approximately 57% to be captured by raising rents to market levels, and additional upside is available through interior and exterior renovations.
This property features spacious units arranged in a courtyard layout, and central or wall air conditioning and heating. Select units include evaporative coolers. Each unit includes a private back patio. Units include washer and dryer hook-ups.
Based on information from California Regional Multiple Listing Service, Inc. as of March 27th, 2020 at 10:36pm PDT. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.