975 East Camino Parocela
Palm Springs, CA 92264
$1,795,000
Price
6
Beds
6
Baths
3,764 Sq. Ft.
$477 / Sq. Ft.
3,764
Sq. Ft.
$477
per Sq. Ft.
Description
Located in the prime and sought-after Warm Sands area, in desirable South Palm Springs. This mid-century modern 5-unit garden style property has many possibilities. All 5 units will be delivered vacant and fully furnished upon closing. It can be run as a hotel, apartment building or live in one unit and rent out the rest. The City of Palm Springs has approved the property for conversion to a boutique hotel once specific upgrades are completed. Building permit and architectural plans to be transferred...Located in the prime and sought-after Warm Sands area, in desirable South Palm Springs. This mid-century modern 5-unit garden style property has many possibilities. All 5 units will be delivered vacant and fully furnished upon closing. It can be run as a hotel, apartment building or live in one unit and rent out the rest. The City of Palm Springs has approved the property for conversion to a boutique hotel once specific upgrades are completed. Building permit and architectural plans to be transferred to the buyer upon closing. Currently the property is rented seasonally to snowbirds. There are no under market rents that you have to wait years to improve. Five units total, four 1bd/1ba and one 2bd/2ba. Detached front unit includes living room with fireplace, 1 bedroom + 1 bath, kitchen, dining area, private patio, and mountain views. Four additional units include three 1 bedroom + 1 bath units and one 2 bedroom + 2 bath unit. All four remaining units have living rooms, vintage Mid-Century Modern kitchens, breakfast bars, and dining areas. All overlook garden areas and most have private patios. Gated pool, spa, and patio area. Minutes to the many fine shops and restaurants in the downtown village area of Palm Springs. Included in the purchase price are all appliances, exterior patio furniture, interior furnishings, and household items. The perfect desert retreat! Buyer to co-operate with "possible" Seller's 1031 Tax Deferred Exchange at no cost to Buyer. Broker, Broker's Agents, & Sellers do not represent and/or guarantee the accuracy of the square footage, permitted or unpermitted space, bedroom/bath count, lot size/dimensions, schools, or any other information concerning the conditions or features of the property & surrounding area, including property income. Buyer is advised to independently verify the accuracy of all information through personal inspection and/or investigation with appropriate professionals to satisfy themselves regarding all material issues of the subject property etc.
- Listed by Rick Chimienti • DRE #01047001 • Brokerage DRE #00625377 • Berkshire Hathaway HomeServices California Propert
Property Details for 975 East Camino Parocela
Water Front
None
ZoningR2
StyleMid-Century
Cross StreetsSouth Warm Sands Drive & Parocela Place
Accessibility FeaturesNo Interior Steps
Parcel Number508146002
Total Units5.0
Living Area3764
LISTING UPDATED: 11/13/2024 09:19 PM
Property Details for 975 East Camino Parocela
| Status | Active |
|---|---|
| MLS # | 24-421577 |
| Days on Market | 53 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1957 |
| Lot Size | 0.22 AC / 9,583 SF |
| County | Riverside County |
Building Information for 975 East Camino Parocela
Stories1Residences-Year Built1957Building Size-Lot Size0.22 AC / 9,583 SF
Property Information for 975 East Camino Parocela
Community / Development
Community / Development
- Tax Mello Roos: No
- Number Of Units: 5
- Senior Community: No
- Builders Tract Name: Warm Sands
- Builders Tract Code: 7100
Structure Info
Structure Info
- Year Built Source: Assessor
- Number Of Stories: 1
- Number Of Buildings: 3
- Type Of Units: Apartment
- View: Yes
- View Description: Mountains, Hills
- View: Mountain(s), Hills
- Security Features: Carbon Monoxide Detector(s), Smoke Detector, Gated
- Direction Faces: North
- Water: District, In Street, Meter on Property, Public, Water District, Paid
- Sewer: In Street, In Street Paid, In Connected and Paid, Paid, On Site
- Water Heaters: Yes
- ADA Compliance: No
- Additions Alterations: No
- Water Heater Features: Gas
- Water District: Desert Water Agency
- Building Permit: Yes
Contract Info
Contract Info
- Probate: No
- Financing: Cash, Cash To New Loan, Submit, Conventional
- Disclosures: As Is
- Listing Type: Exclusive Right To Sell
- Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
- Scheduled Actual: Scheduled
- Gross Operating Income: $145,200
- Net Operating Income: $105,993.00
- Gross Income: $145,200
- Cap Rate: 5.59%
- Gross Rent Multiplier: $13.10
- Actual Annual Gross Rent: $145,200.00
- Actual Gross Annual Income: $0
- Gross Equity: $0
- Actual Rent Total: $.00
- Vacancy Allow Dollar: $.00
- Vacancy Allow Percent: .00%
- Owner Pays: Electricity, Gardener, Gas, Pool Service, Water, Other
- Total Annual Expense: 39207
Land / Lot Info
Land / Lot Info
- Land Lease Type: Fee
- Land Lease: No
- Additional Parcel Number: No
- Alley: No
- Lot Acreage: 0.22
- Lot Size Square Feet: 9583
- Lot Size Dimensions: 100x100
- Source Lot Size Dimensions: Vendor Enhanced
- Lot Features: Rectangular Lot, Misting System, Utilities - Overhead, Corners Marked, Back Yard
- Lot Description: Curbs, Exterior Security Lights, Fenced, Fenced Yard, Lot Shape-Rectangular, Lot-Level/Flat, Misting System, Single Lot, Sidewalks, Street Asphalt, Street Paved, Utilities - Overhead, Street Lighting, Corners Established, Back Yard
- Lot Location: City, Flats
Parking Details
Parking Details
- Parking Garage: Private
- Total Parking: 5
- Covered Parking: 0
- Open Other Spaces Total: 5
- Garage Spaces Total: 0
- Carport Spaces Total: 0
- Parking Features: Private
- Garage Structures Total: 0.0
Interior Features
Interior Features
- Rooms: Breakfast Area, Breakfast Bar, Patio Open, Breakfast
- Levels: One
- Fireplace Features: Gas, Gas Starter, Wood Burning, Living Room, Raised Hearth
- Fireplace Rooms: Gas, Gas and Wood, Gas Starter, Wood Burning, Living Room, Raised Hearth
- Den: No
- Family Room: 0
- Dining Room: 0
- Cooling: Evaporative Cooling, Electric, Wall/Window Unit(s)
- Cooling Type: Air Conditioning, Swamp Cooler(s), Ceiling Fan, Electric, Wall Unit(s), Wall/Window
- Heating: Central, Forced Air, Natural Gas
- Heating Type: Central, Forced Air, Natural Gas
- Flooring: Tile, Laminate, Cement, Ceramic Tile
- Equipment: Barbeque, Cable, Dryer, Garbage Disposal, Gas Dryer Hookup, Gas Or Electric Dryer Hookup, Hood Fan, Microwave, Range/Oven, Refrigerator, Washer, Vented Exhaust Fan, Ceiling Fan
- Interior Features: Common Walls, Furnished, Turnkey
- Room Kitchen Features: Formica Counters, Remodeled Kitchen, Walk-In Pantry
- Kitchen Features: Formica Counters, Remodeled, Pantry, Galley Kitchen
- Room Bathroom Features: Remodeled, Shower, Tile Counters, Low Flow Toilet(s), Linen Closet/Storage
- Bathroom Features: Remodeled, Shower Stall, Tile, Low Flow Toilet(s), Linen Closet, Shower Over Tub
- Bedroom Features: All Bedrooms Down, Main Floor Bedroom
- Common Walls: Attached
- Cooking Appliances: Microwave, Oven, Range Hood, Range, Gas, Free Standing Gas
- Laundry: Community, Laundry Area, Room, Outside
- Laundry Equipment: Own
- Disability Access: No Interior Steps
- TV Services: Cable TV
- Virtual Tour Url: http://www.postrain4.com/berkshire/975caminoparocela/mls.php
Exterior Features
Exterior Features
- Pool: Yes
- Private Pool: Yes
- Pool Description: Fenced, Filtered, Gunite, In Ground, Heated, Private
- Pool Features: Fenced, Filtered, Gunite, In Ground, Heated, Private
- Spa: Yes
- Spa: Fenced, Gunite, Heated, Heated with Gas, In Ground, Private
- Tennis: No
- Tennis Court: None
- Roof: Foam
- Sprinklers: Sprinkler System, Drip System, Sprinkler Timer, Rear, Front
- Door Features: Sliding Doors
- Patio Features: Concrete Slab, Covered, Covered Porch, Enclosed, Lanai, Patio Open, Porch - Front, Porch - Rear, Slab
- Entry Location: Living Room
- Windows: Awning, Custom Window Covering, Drapes/Curtains, Plantation Shutters, Screens, Vertical Blinds, Window Blinds, Window Shutters
- New Construction: No
- Construction Materials: Stucco
- Exterior Construction: Stucco
- Foundation Details: Slab
- Other Structural Features: Partial Copper Plumbing, Sliding Glass Doors, Sprinkler System, Custom Built
- Other Structures: Shed(s)
Lease Terms
Lease Terms
- Entry Date: 09-30-2024
- Listing Terms: Private Financing Available, Cash, Cash To New Loan, Fannie Mae, Freddie Mac, Standard Sale, Submit
- Rent Control: Yes
- Rent Control: 100
Unit Details
Unit 1 Information
- Unit Beds: 1
- Unit Baths: 1
- Unit Furnished: Yes
- Unit Rent: $.00
- Unit Actual Rent: $.00
- Unit Projected Rent: $2,500.00
- Like Units: 1
Unit 2 Information
- Unit Beds: 1
- Unit Baths: 1
- Unit Furnished: Yes
- Unit Rent: $.00
- Unit Actual Rent: $.00
- Unit Projected Rent: $2,300.00
- Like Units: 2
Unit 3 Information
- Unit Beds: 2
- Unit Baths: 2
- Unit Furnished: Yes
- Unit Rent: $.00
- Unit Actual Rent: $.00
- Unit Projected Rent: $2,800.00
- Like Units: 3
Unit 4 Information
- Unit Beds: 1
- Unit Baths: 1
- Unit Furnished: Yes
- Unit Rent: $.00
- Unit Actual Rent: $.00
- Unit Projected Rent: $2,100.00
- Like Units: 4
Unit 5 Information
- Unit Beds: 1
- Unit Baths: 1
- Unit Furnished: Yes
- Unit Rent: $.00
- Unit Actual Rent: $.00
- Unit Projected Rent: $2,400.00
- Like Units: 5
Unit Details
- Unit Type Type: 2106, 2107, 2108, 2109, 2110
- Number of Carpet: 0
- Number of Dishwasher: 1
- Number of Disposal: 6
- Number of Drapes: 0
- Number of Electric Meters: 5
- Number of Gas Meters: 5
- Number Leased: 0
- Number Patio: 4
- Number Range: 5
- Number Refrigerator: 5
- Number Rented Garages: 0
- Number Wall AC: 1
- Number Water Meters: 1
Tax and Assessed Info
Tax and Assessed Info
- Assessed Improvement Value: $327,617.00
- Assessed Improvement Percent: 81.48
- Assessed Land Value: $74,446.00
- Assessed Land Percent: 18.52
- Assessed Total Value: $402,063.00
- Private Transfer Taxes: No
Property History for 975 East Camino Parocela
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 975 East Camino Parocela
Taxable ValueLand$260,100Additions$1,456,560Total$1,716,660
Tax Record2024$22,114 ($1,843 / month)
Home Facts
Total Finished SqFt878 SqFtAbove Grade Finished SqFt878 SqFtStories1Lot Size9,583 SqFtStyleMulti-Family Res (5+ Units)Year Built1957ZoningR2CountyRIVERSIDEAPN508-146-002
Schools near 975 East Camino Parocela
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 | |||
| Public - | K to 12 |
Rating | School | Distance |
|---|---|---|
Cahuilla Elementary School PublicK to 5 | ||
Raymond Cree Middle School Public6 to 8 | ||
Palm Springs High School Public9 to 12 | ||
Desert Learning Academy PublicK to 12 |
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.
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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 Berkshire Hathaway HomeServices California Propert, Rick Chimienti, DRE #01047001
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.