Description
Discover a new endeavor at 350 W Chino Canyon Road. This Tuscany area property, comprised of approximately 18,496 square feet, is arare one-of-a-kind find in Palm Springs. Historically used as a hotel or apartment building, the City Planning Commission has recently indicated that the propertycan be permitted with a CUP and business plan as an assisted living facility. With this tremendous upside and value-add opportunity, the buyer has the potentialto expand the portfolio's cap rate 5.5% per unit. 350 W Chino Canyon Road is a prime investment to own a 25-unit, individually metered apartment building with39 bedrooms. This community offers a full suite of amenities, including a saltwater pool, spa, a zen garden, fruit trees, and 25 patios overlooking gorgeousmountain views. This complex features a broad unit mix of 11 one-bed and one-bath units, six two-bedroom and one-bath units, eight two-bedroom and one-anda-half-bath units, and one ADA-compliant unit. This residential income property offers a sought-after location between Las Palmas and Little Tuscany in PalmSprings. The Palm Springs Airport is four miles away, making the property ideal for out-of-town visitors. Owning property such as 350 W Chino Canyon Roadallows for endless possibilities. Buyer to do all due diligence.
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School Ratings & Info
Description
Discover a new endeavor at 350 W Chino Canyon Road. This Tuscany area property, comprised of approximately 18,496 square feet, is arare one-of-a-kind find in Palm Springs. Historically used as a hotel or apartment building, the City Planning Commission has recently indicated that the propertycan be permitted with a CUP and business plan as an assisted living facility. With this tremendous upside and value-add opportunity, the buyer has the potentialto expand the portfolio's cap rate 5.5% per unit. 350 W Chino Canyon Road is a prime investment to own a 25-unit, individually metered apartment building with39 bedrooms. This community offers a full suite of amenities, including a saltwater pool, spa, a zen garden, fruit trees, and 25 patios overlooking gorgeousmountain views. This complex features a broad unit mix of 11 one-bed and one-bath units, six two-bedroom and one-bath units, eight two-bedroom and one-anda-half-bath units, and one ADA-compliant unit. This residential income property offers a sought-after location between Las Palmas and Little Tuscany in PalmSprings. The Palm Springs Airport is four miles away, making the property ideal for out-of-town visitors. Owning property such as 350 W Chino Canyon Roadallows for endless possibilities. Buyer to do all due diligence.
Licensed in the State of California, USA