550 S EL CIELO Road, Palm Springs, CA 92264
$2,650,000
Property Type:
Residential Income
Square Footage:
13,535
Lot Size (sq. ft.):
30,610
Status:
Closed
Current Price:
$2,650,000
List Date:
5/09/2019
Last Modified:
5/14/2026
Description
Exceptional resort style 15 unit apartment complex now available. Excellent investment opportunity with significant upside. A total living space of 13,535 SQFT. The compound comprises of 2 two-story buildings with a single level casita building in the center. A private setting with gated entrances, large pool area, and covered carport parking. Lush and green with mature landscaping and towering palm trees provide an inviting and oasis-like atmosphere. The property is fully leased with 15 long term quality leases. This apartment complex offers a stable income and value-add opportunity to capitalize on one of the most robust real estate markets in the country. Professionally managed.
Supplements: agent for details.
More Information MLS# 19445960
Listing, Location and Property Info
Entry Date: 2019-04-15
Land Type: Fee
Builders Tract Code: 6330
General Property Information
Total Units: 15
SqFt Source: Other
Building # of Stories: 2
Pool: No
Approx SqFt: 13535
Lot Acres: 0.7
Lot Size: 30612
Lot Size Source: Assessor
Year Built: 1970
Listing Info
Number of Buildings: 3
Income & Expenses
Gross Income $: 185800
Gross Operating Income $: 186680
Net Operating Income $: 125624
Total Annual Operating Expenses $: 186680
Assessed Improvement $: 774002
Cap Rate %: 4.5
Vacancy Allowance % or $: 0
Sale Type
Standard: 1
Appliances
Refrigerator: 1
Cooling Type
Heat Pump: 1
Room Refrig Air: 1
Wall/Window Unit(s): 1
Zoned: 1
Heating
Other: 1
Parking
Detached Carport: 1
Land Lease Type
Fee Simple: 1
Listing Location and Property Info
APN: 680031013
Status: Closed
Listing Date: 2019-04-15
Original List Price: 2800000
Sold Price: $2,650,000
Current Price: $2,650,000
Street #: 550
Street Direction: S
Street Name: EL CIELO
Street Suffix: Road
County: Riverside
State: CA
Zip Code: 92264
Area: 334 - Palm Springs South End
Neighborhood: Demuth Park
Status Change Info
Status Change Date: 2019-06-19
Pending Date: 2019-05-24
Closed Date: 2019-06-19
Closed Price: 2650000
Parking SpacesInformation
Total Parking Spaces: 20
Property Features
Sale Type: Standard
Appliances: Refrigerator
Cooling Type: Heat Pump; Room Refrig Air; Wall/Window Unit(s); Zoned
Heating: Other
Parking: Detached Carport
Land Lease Type: Fee Simple
Listing Office:
Coldwell Banker Realty
Listing Agent:
Panayot B Tomov
Last Updated: May - 14 - 2026
Information deemed reliable but not guaranteed.
