561 Highland Drive

Palm Springs, CA 92264

$6,995,000
Price
35
Beds
31
Baths
5
1/2 Baths
29,000 Sq. Ft.
$241 / Sq. Ft.
29,000
Sq. Ft.
$241
per Sq. Ft.

Description

Prime Investment Opportunity and Entire City Block for Sale! 32 Units Across Three Multi-Family One-Story Buildings. 579, 561, and 509 S. Highland sold collectively as a package for $6,995,000. Key Features:
509: 17 units all 1 bedroom 1 bath with 1 reserved as a managers unit.
561: 5 units all 1 bedroom 1 bath.
579: 10 units 2- 2 beds, 7 1 beds and 1 studio
Swimming Pools: Each building has a brand-new pool with permits, new plumbing, new electrical, new plaster, and designer tile. Pools are SOLAR heated.
...Prime Investment Opportunity and Entire City Block for Sale! 32 Units Across Three Multi-Family One-Story Buildings. 579, 561, and 509 S. Highland sold collectively as a package for $6,995,000. Key Features:

509: 17 units all 1 bedroom 1 bath with 1 reserved as a managers unit.

561: 5 units all 1 bedroom 1 bath.

579: 10 units 2- 2 beds, 7 1 beds and 1 studio

Swimming Pools: Each building has a brand-new pool with permits, new plumbing, new electrical, new plaster, and designer tile. Pools are SOLAR heated. Private Patios: Almost all units feature private patios, offering tenants their own personal outdoor space. Modern Amenities: Updated retro fitted windows are in all buildings, essential for energy efficiency in the desert climate. Conveniences: On-site laundry facilities and trash pickup for all buildings. Secure Entry: All buildings have keypad secure safe entry system. Parking: Ample parking available for all tenants and guests. Landscaping: Freshly landscaped grounds provide an attractive, low-maintenance environment. Proximity: Located near great eateries and shopping, lovely parks, and golf courses and bus stops. Convenient access to the airport ensures easy travel. Economies of Scale - has massive upside thanks to high key count providing opportunity to raise rents and maximize ROI.
  1. Listed by Adam Gilbert • DRE #01914157 • The Firm Brokerage

Property Details for 561 Highland Drive

Subdivision Name
Demuth Park
Carport Spaces
5.00
Garage Spaces
.00
View
Mountain(s)
Cross Street
Camino Parocela and Ramon
LISTING UPDATED: 11/19/2024 08:01 PM

Property Details for 561 Highland Drive

StatusActive
MLS #219115030
Days on Market109
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1962
Lot Size1.00 AC / 43,560 SF
CountyRiverside County

Building Information for 561 Highland Drive

Stories1Residences-Year Built1962Building Size-Lot Size1.00 AC / 43,560 SF

Property Information for 561 Highland Drive

Summary
Location and General Information
  • City: Palm Springs
  • Country: US
  • Directions: -
  • Levels: One
  • Area: 334 - Palm Springs South End
  • Senior Community: No
  • Unparsed Address: 561 Highland Drive, Palm Springs, CA 92264
  • Walk Score: 0
Parking
  • Parking Features: Assigned, On Street, Total Uncovered/Assigned Spaces
Taxes and HOA Information
  • Association Fee: $.00
Virtual Tour
  • Videos Count: 0
Property
Lot Information
  • Lot Size Acres: 1.00
  • Lot Size Square Feet: 43,560.00
  • Lot Size Area: 81,624.00
  • Lot Size Source: Assessor
  • Property Type: Residential Income
Property and Assessments
  • Documents Count: 0
Utilities
  • Cooling: Air Conditioning
  • Cooling: Yes
  • Sewer: In Connected and Paid
Interior and Exterior Features
Exterior Features
  • Pool Features: Community, In Ground
  • Pool Private: Yes
  • Pool: Yes
  • Security Features: Gated Community
  • Spa: No
  • Stories Total: 1
Interior Features
  • Bathrooms Full: 31
  • Bathrooms One Quarter: 0
  • Bathrooms Three Quarter: 0
  • Total Bathrooms: 36
  • Fireplace Features: Gas Starter, Living Room
  • Fireplace: Yes
  • Fireplaces Total: 10
  • Flooring: Tile
  • Heating: Central
  • Heating: Yes
  • Living Area: 29,000.00
  • View: Yes
Multi Family
Multi-Family Information
  • Special Listing Conditions: Standard

Property History for 561 Highland Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 561 Highland Drive

Taxable ValueLand$187,272Additions$645,048Total$832,320
Tax Record2024$11,366 ($947 / month)
Home Facts
Total Finished SqFt3,480 SqFtAbove Grade Finished SqFt3,480 SqFtStories1Lot Size10,018 SqFtStyleMulti-Family Res (5+ Units)Year Built1962Year Renovated1967ZoningR2CountyRIVERSIDEAPN680-032-008

Schools near 561 Highland Drive

This home is within Palm Springs Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - K to 8
Rating
School
Distance
Cahuilla Elementary School
PublicK to 5

Raymond Cree Middle School
Public6 to 8

Palm Springs High School
Public9 to 12

Cielo Vista Charter School
CharterK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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561 Highland Drive is a multi-family home for sale in Palm Springs, CA 92264. This property was listed for sale on August 6, 2024 by The Firm Brokerage, it's currently listed at $6,995,000. This listing's school district is Palm Springs Unified School District. Nearby schools include Cahuilla Elementary School, Raymond Cree Middle School and Palm Springs High School. 561 Highland Drive is a 35-bed, 33.5-bath, 29,000 sqft multi-family home built in 1962.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of The Firm Brokerage, Adam Gilbert, DRE #01914157

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.