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Geoffrey Moore

120 W Arenas Road, Ste 7
Palm Springs, CA
92262

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Palm Springs Income Properties

As a popular vacation destination, Palm Springs is an excellent place to buy a residential income property and make a little extra cash. Also known as non-owner occupied properties, these are homes for sale in Palm Springs that are meant to be bought for the purpose of renting, leasing, or reselling following an increase in the property's value. In the Palm Springs real estate market—as well as in nearby communities such as Palm Desert, Rancho Mirage, and Cathedral City—there are ample opportunities to earn a significant amount of money with a strong vacation rental market and a steady price appreciation of real estate.

Look below to find every residential income property currently on the market in the Palm Springs area. If you'd like to learn more about the benefits of income properties in Palm Springs, as well as the local rules and regulation, continue down the page.

Current Residential Income Properties For Sale in Palm Springs

All Listings $100,000 - $200,000 $300,000 - $400,000
$400,000 - $500,000 $500,000 - $600,000 $600,000 - $700,000
$700,000 - $800,000 $800,000 - $900,000 $900,000 - $1,000,000
Over $1,000,000
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331 W Sunview Ave, PALM SPRINGS, CA - $5,100,000

Residential Income, Single Family
  • 3 Beds
  • 3 Baths
  • 1,180 SQFT
  • 247 DOM
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Ideal For Real Estate Portfolio, This Is A Bulk Sale/purchase Of 14 Single Family Income Units For A 1031 Exchange; Buyers To Co-operate In A 1031 Exchange With Seller. Homes All Rented With Season 3bd/2ba Garage, Large Lots, All Rented. Cap Rate ...

220 S Patencio Rd 8, PALM SPRINGS, CA - $2,500,000

Residential Income, Apartment Building
  • 8 Beds
  • 9 Baths
  • 882 DOM
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Class A Iconic Hotel (on Hotel Row) In The Famous Tennis Club. Property Is Surrounded By Multi-million Dollar Hotels & Resorts And This Is One Of The Best Inns In Palm Springs! Created In The Spirit Of The "old West" The Heritage Of Palm Sprin...

280 E Mel Ave, PALM SPRINGS, CA - $2,195,000

Residential Income, Apartment Building
  • 12 Beds
  • 12 Baths
  • 5,000 SQFT
  • 139 DOM
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A Very Charming Spanish Hotel In The Heart Of Central Palm Springs. This Fully Remodeled Building Is Currently Set Up With An Extra Large Owner Unit And 11 Additional One Bedroom Units. Pool Has Dramatic Mountain Views. There Is A 20 Person Privat...

888 N Indian Canyon Dr, PALM SPRINGS, CA - $1,999,999

Residential Income, Apartment Building
  • 12 Beds
  • 13 Baths
  • 5,000 SQFT
  • 403 DOM
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Turn-key Boutique Hotel In Central Palm Springs - Movie Colony Within Easy Walking Distance To All Of Downtown. 12 Well-appointed Rooms And Suites. Major Renovations Inside And Out Were Done Between 2012 And Current Creating An Ultra Private Resor...

MLS #19445956DA for Sale at 354 E Stevens Rd, in the city of PALM SPRINGS, 92262

354 E Stevens Rd, PALM SPRINGS, CA - $1,675,000

Residential Income, Apartment Building
  • 5,432 SQFT
  • 216 DOM
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A Lucrative Opportunity To Own And Operate An Established Boutique Hotel Business In The Vibrant Palm Springs Market. A Solid Income Generating Asset With 12 Large Rooms, Kitchens And/or Kitchenettes Offering A Very Private Resort Style Setting.ex...

1420 N Indian Canyon Dr, PALM SPRINGS, CA - $1,588,800

Residential Income, Apartment Building
  • 12 Beds
  • 14 Baths
  • 5,700 SQFT
  • 22 DOM
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Welcome To Rendezvous Palm Springs Bed & Breakfast Hotel Located In The Movie Colony Neighborhood Of Downtown Palm Springs! This Unique 1950's Style Property Has Been Remodeled As An Upscale 10 Room Boutique Property (could Easily Be Converted...

45905 Ocotillo Dr, PALM DESERT, CA - $1,200,000

Residential Income, Fourplex
  • 8 Beds
  • 8 Baths
  • 180 DOM
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Unique Chance To Be President Of Your Own Property Owners Association In An Exceptional Location. Here Are Four Two Bedroom Two Bath Individually Titled Condominium Units Very Close To The Rodeo Drive Of Palm Desert - El Paseo. Convenient Location...

73950 Grapevine St, PALM DESERT, CA - $1,200,000

Residential Income, Fourplex
  • 4,400 SQFT
  • 132 DOM
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Strategically Located Overlooking The Shadow Mountain Golf Course With Panoramic Views. All Units Are 2 Bedroom, 1.75 Baths With A One Car Garage. All Units Are Approximately 1100 Sqft Each. Due To A Fire A Few Years Ago, All The Units Have Been ...

1610 S Via Entrada 10, in the city of PALM SPRINGS Real Estate in CA by Stardust Hotel

1610 S Via Entrada 10, PALM SPRINGS, CA - $1,199,000

Residential Income, Apartment Building
  • 10 Beds
  • 10 Baths
  • 3,976 SQFT
  • 108 DOM
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Welcome To The Stardust Hotel & Resort. A Mid Century Inspired 10 Unit Desert Architecture Property With Common Area Living Room/ Lobby/ Lounge Area. Tucked Away In A Key Location In Sought After South Palm Springs Hotel District; Offering Pri...

73970 Grapevine St, PALM DESERT, CA - $1,189,000

Residential Income, Fourplex
  • 8 Beds
  • 8 Baths
  • 4,500 SQFT
  • 56 DOM
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Incredible Views Backing Up To Shadow Mountain Golf Course, In An Incredible Location Across The Street From The Vintage And Walking Distance To El Paseo. Large Well Cared For Pride Of Ownership Units In This Most Desirable South Palm Desert Locat...

1500 S Via Entrada, PALM SPRINGS, CA - $995,000

Residential Income, Single Family
  • 2 Beds
  • 4 Baths
  • 2,677 SQFT
  • 25 DOM
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1500 S. Via Entrada Is A Quintessential Mid-centrury 4-plex Built In 1955. Located In The Desired Tahquitz River Estates Area Of South Palm Springs. Walking Distance To Shops & Restaurants Including The Very Popular El Mirasol Mexican Restau...

37111 Cathedral Canyon Dr, CATHEDRAL CITY, CA - $950,000

Residential Income, Apartment Building
  • 6 Beds
  • 263 DOM
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All But Two Rentals Have Are Furnished And Owner Pays Utilities Including Internet. Income Would Be Much Higher If Tenants Paid Their Own Utilities. All Separate Meters Except Water. Prices Change For Seasonal Rents And Varies By A Few Hundred Dol...

 

If you'd rather be notified by email when a new income property that meets your search parameters hits the market, sign up for my home finder alert service. Specify what types of homes you'd like to receive emails about, along with the price range and any other details you wish to enter, and I'll let you know as soon as a home that matches your needs becomes available.

Benefits of Owning Palm Springs Residential Income Properties

As you can see in the listings above, many of the Palm Springs residential income properties for sale are multi-family properties such as duplexes, triplexes, fourplexes, and a variety of other townhouse or condo developments. In Palm Springs, there is a very realistic possibility to make a big profit off these properties due to the year-round demand for vacation rentals.

Also, when you decide to buy an investment property, you now have the freedom of being your own boss. You get to set the price of your new rental unit(s), you decide who your tenant will be, and you are in complete control of the property management. You're essentially running your own business, which allows you to set your own hours and know exactly when and how every aspect of the property will be taken care.

Furthermore, those who own income properties for the purpose of renting them out are entitled to a variety of tax deductions. They can write off repairs to the units, travel costs related to the property, insurance, property taxes, and even interest on mortgage payments.

If you'd like more details on the financial benefits of owning a Palm Springs income property or you're interested in getting the latest updates on the rental property rules listed below, contact me. As an experienced local REALTOR®, I'm always on top of anything that impacts the Palm Springs real estate market.

Palm Springs Rental Properties - Rules and Regulations

While the benefits of buying an income property, it's important to be aware that the Palm Springs government has put some regulations on vacation rentals. These rules and regulations are certainly subject to change, but there are currently limits on the following:

  • Total number of rental contracts granted per year
  • Number of overnight guests (generally speaking, two guests per bedroom)
  • Total vehicles allowed (also based on number of bedrooms per unit)
  • Number of short-term rentals per owner
  • Ability to rent out homes as a strictly absentee investor

For more information on these regulations and the registration fees for owners on vacation rental properties, you should certainly talk to your local real estate agent, which is where I come in. I'm an expert on these subjects and can answer any of your questions. Get in touch with me by filling out the form below.

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The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Last updated on November 6th, 2019 at 2:00am PST