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$5,995,000

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1.4 Acres Lot

Active

579 S Highland DR Palm Springs, CA 92264

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Jenny Wu

offer@jennywurealty.com +1(909) 569-8888

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Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC25082158

HOA Y/N No

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 332 - Central Palm Springs

Zoning R2

Interior

Heating None

Fireplace No

Laundry Common Area

Exterior

Pool Community

Community Features Curbs, Gutter(s), Sidewalks, Pool

Total Parking Spaces 34

Private Pool No

Building

Lot Description Street Level

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 680032007

Energy Description 10354.0

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange, Owner Will Carry

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange, Owner Will Carry

Special Listing Condition Standard

Listed by Tyler Leeson • Marcus & Millichap RE Invest • tleeson@marcusmillichap.com

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Jenny Wu

Agent | License ID: 01817291

+1(909) 569-8888

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579 S Highland DR Palm Springs, CA 92264

Jenny Wu

Key Details

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