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$ 925,000
Est. payment /mo
New
595 S Thornhill RD Palm Springs, CA 92264
7 Beds
7 Baths
4,267 SqFt
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 4,267 sqft
Price per Sqft $216
Subdivision Warm Sands
MLS Listing ID 219151275
Bedrooms 7
Three Quarter Bath 7
HOA Y/N No
Year Built 1958
Lot Size 0.340 Acres
Property Sub-Type Apartment
Property Description
Sago Palms -- Six-Unit Multifamily Property in the heart of Palm Springs.
Located in the Warm Sands area of Palm Springs, Sago Palms is a unique six-unit multifamily property with a history as a former hotel. The property offers a mix of residential units, attractive amenities, and stunning mountain views.
The property consists of:
One, 2-bedroom, 2-bathroom unit with -- currently needs work
Three, 1-bedroom, 1-bathroom units -- currently in rentable condition and
Two studio apartments.
A total of three gas fireplaces in various units.
Community pool
Shared laundry room -- no additional income
Street/open parking
Separate utility meters
Leased solar system
Upgraded plumbing
Two tankless water heaters
Stunning mountain views
The property is being sold AS-IS.
There are currently three tenants and one owner-occupant living on the property. All occupants are on month-to-month rental agreements, providing flexibility for a future owner.
Current Rental Income:
One bedroom units: $1200 per month
Two bedroom units: $1600 per month.
Studio apartments: $1085 per month.
Vacancy in on Studio and the 2 bed, 2 bath unit (needs remodeling).
Solar lease is $524.85 per month with Sun run. Expires in 2035. Current buy out is $46,455.88.
Located in the Warm Sands area of Palm Springs, Sago Palms is a unique six-unit multifamily property with a history as a former hotel. The property offers a mix of residential units, attractive amenities, and stunning mountain views.
The property consists of:
One, 2-bedroom, 2-bathroom unit with -- currently needs work
Three, 1-bedroom, 1-bathroom units -- currently in rentable condition and
Two studio apartments.
A total of three gas fireplaces in various units.
Community pool
Shared laundry room -- no additional income
Street/open parking
Separate utility meters
Leased solar system
Upgraded plumbing
Two tankless water heaters
Stunning mountain views
The property is being sold AS-IS.
There are currently three tenants and one owner-occupant living on the property. All occupants are on month-to-month rental agreements, providing flexibility for a future owner.
Current Rental Income:
One bedroom units: $1200 per month
Two bedroom units: $1600 per month.
Studio apartments: $1085 per month.
Vacancy in on Studio and the 2 bed, 2 bath unit (needs remodeling).
Solar lease is $524.85 per month with Sun run. Expires in 2035. Current buy out is $46,455.88.
Location
State CA
County Riverside
Area 334 - Palm Springs South End
Interior
Heating None
Cooling Central Air
Fireplace false
Exterior
Pool Gunite, Community, In Ground
Utilities Available Cable TV
View Y/N true
View Mountain(s)
Private Pool Yes
Building
Lot Description Private
Story 1
Entry Level One
Sewer Unknown
Level or Stories One
Others
Senior Community No
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by RE/MAX All-Pro