73170 Tumbleweed Lane, Palm Desert, CA 92260

$2,750,000
Property Type: Residential Income Bedrooms: 16 Baths: 16 Square Footage: 9,376 Status: Closed
Current Price: $2,750,000 List Date: 6/18/2024 Last Modified: 12/16/2024

Overview

Description

The Pines Apartments represents an extremely well-located, value-add apartment complex adjacent to El Paseo in Palm Desert, CA. The property consists of sixteen (16) 1Bedroom/1Bathroom 586 sq ft single-level apartment units, and sits on a 27,878 sq ft parcel. Property amenities include a common area laundry facility, gated community pool, private patios, air conditioning, and sixteen (16) covered surface parking spots. The Pines Apartments offers an investor 45% upside in rents in a fantastic Palm Desert location adjacent and walking distance to El Paseo.

Listing Details MLS# 219112501

General Property Information

Total Units
16
Total Bedrooms
16
Full Baths
16
Total Baths
16
Approx SqFt
9376
SqFt Source
Other
Price Per Unit
199688
Fireplace
No
Building # of Stories
Yes
Pool
Yes
Paved
Yes
Lot Size Source
Other
Year Built
1967
Cross Streets
Tumbleweed Ln & Verba Santa Dr

Property Features

Owner Pays: Gardener; Pool Service; Trash Collection; Water Tenant Pays: Electricity; Gas Sale Type: Standard Listing Terms: 1031 Exchange Disclosures: None Levels: One Foundation: Slab Flooring: Carpet; Tile Cooling Type: Air Conditioning Pool Location: Community Pool Construction: In Ground Pool Description: Community Heating: Wall Furnace Rooms: Other Security Safety: Resident Manager Roofing: Composition Sewer: Assessments Water: Water District Parking: Detached Carport Land Lease Type: Fee Simple

Listing Location and Property Info

APN
627232007
Original List Price
3195000
Street #
73170
Street Name
Tumbleweed
Street Suffix
Lane
County
Riverside
State
CA
Zip Code
92260
Area
323 - Palm Desert South
Country
US

Listing Info

Number of Buildings
4

Tax Info

Tax Mello Roos
No

Property Info

View
No
Senior Community
No
Gated Community
No

More Information

Status Change Info

Status Change Date
2024-12-16
Pending Date
2024-08-08
Closed Date
2024-12-13
Closed Price
2750000

Counts

# Electric Meters
16
# Gas Meter
16
# Water Meters
Yes

Water

Water District Name
Coachella Valley

Parking SpacesInformation

Total Carport Spaces
16
Total Parking Spaces
32
Listing Office: Apartment Realty Group, Inc
Listing Agent: James V Carter
Last Updated: December - 16 - 2024
Information deemed reliable but not guaranteed.
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