Property Details

1380 N Indian Canyon Dr.
Palm Springs, CA 92262

Price
$1,195,000
GRM
12.75  
GSI
$93,744  
NOI
$56,171  
CAP Rate
4.7  
Units
8  
Price/unit
$149,375  
Square Footage
4,812  
Price/sqft
$248  
Lot Size (sqft)
16,988  
Year Built
1946  

Property Description

“La Casa” is located in central Palm Springs and was originally built as a hotel in 1946, then converted to 8 apartments. La Casa still holds R3 zoning and is surrounded by 5 boutique hotels. Conversion back to hotel is likely or continue as apartments. Attractive unit mix between (2) studios, (3) 1 bedrooms and (3) large 2 bedroom units.

This property offers value upside, passive income with light management duties and great tax benefits for the new owner.


Unit Composition

QtyBedroomsBathrooms
21 Bedroom1 Bath
31 Bedroom1 Bath
33 Bedroom2 Bath

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