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 $200,000 - $300,000
$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

Current Residential Income Properties For Sale in Palm Springs

45 Properties Found. Page 1 of 4.
Photo of Listing #19440586PS

331 Sunview Avenue, Palm Springs

$5,100,000

MLS® # 19440586PS

Photo of Listing #17238522PS

220 8 Patencio Road, Palm Springs

$2,500,000

MLS® # 17238522PS

Photo of Listing #219035140PS

2388 Sunrise Way, Palm Springs

$2,299,000

MLS® # 219035140PS

Photo of Listing #CV19283323

219 -220 S Saturmino Drive, Palm Springs

$2,100,000 - 10,762 Sf

MLS® # CV19283323

Photo of Listing #18380918PS

888 Indian Canyon Drive, Palm Springs

$1,999,999

MLS® # 18380918PS

Photo of Listing #19445956PS

354 Stevens Road, Palm Springs

$1,675,000 - 12 Beds, 12 Baths

MLS® # 19445956PS

Photo of Listing #219034619PS

238 Saturmino Drive, Palm Springs

$1,500,000

MLS® # 219034619PS

Pending
Photo of Listing #219022093DA

310 Palm Canyon Drive, Palm Springs

$1,450,000

MLS® # 219022093DA

Photo of Listing #NP19153607

73950 Grapevine Street, Palm Desert

$1,200,000 - 4,400 Sf

MLS® # NP19153607

Photo of Listing #219024441DA

73970 Grapevine Street, Palm Desert

$1,189,000

MLS® # 219024441DA

Pending
Photo of Listing #19491838PS

1610 10 Via Entrada, Palm Springs

$1,150,000

MLS® # 19491838PS

Pending
Photo of Listing #219030495PS

1500 Via Entrada, Palm Springs

$995,000

MLS® # 219030495PS

 

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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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Based on information from California Regional Multiple Listing Service, Inc. as of January 21st, 2020 at 6:56pm PST. 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.