Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    238 S Saturmino Dr Palm Springs, CA 92262

    Sponsored
    For Sale
    $1,799,000

    Commercial Sale - Palm Springs, CA

    Property size:
    5,733 SF
    Days on Market:
    3
    Last Refresh:
    Mar 4 at 4:06 am

    Property Features for 238 S Saturmino Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    502182003
    Size
    5,733 SF

    Utilities

    Cooling system
    Multi Units, Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1963
    Architectural style
    Other

    We can help!

    Listing Contact
    Michelle Bagi

    Realty Masters & Associates (714) 368-1300

    Listing agent Michelle Bagi (909) 303-4500 License #02112864

    Listing date Mar 2, 2026

    MLS# CV26045532 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Palm Springs Apartment Complex

    This is a seven-unit apartment complex located in Palm Springs, California. The property is situated in a desirable area near downtown amenities, shopping, dining, and major transportation routes. It is located in a strong rental corridor and offers investors stable cash flow in one of the Coachella Valley’s most sought-after rental markets. The property size is 5,733 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Palm Springs
    County
    Riverside
    State
    California
    Longitude
    -116.525998
    Latitude
    33.820036

    Nearby Similar for Sale

    • $1,000,000
      2,400 SF

      Palm Springs Commercial Condominium For Sale

      2,400 sq ft condominium ideal for professional or medical use.
      181 S Civic Dr, Palm Springs, CA 92262
      View Details
    • $425,000
      1,200 SF

      Palm Springs Office Space Available

      Single-story office space with kitchen, bathroom, and front/rear exits.
      189 S Civic Dr, Palm Springs, CA 92262
      View Details
    • New
      $735,000
      2,096 SF

      Palm Springs Duplex with Pool

      South Palm Springs duplex with flexible living and investment opportunities.
      111 Canyon Rock Rd, Palm Springs, CA 92264
      View Details
    • $1,100,000
      Pending

      Palm Springs Retail/Restaurant Opportunity

      Freestanding 2,494 SF retail/restaurant in Palm Springs for sale.
      311 N Indian Canyon Dr, Palm Springs, CA 92262
      View Details
    • New
      $1,025,000
      2,200 SF

      Palm Springs Duplex with Pool

      Stylish Palm Springs duplex featuring a pool and mountain views.
      610 S Camino Real, Palm Springs, CA 92264
      View Details
    • $1,400,000
      4,150 SF

      Palm Springs Multifamily Investment Opportunity

      Six-unit apartment complex in Palm Springs' Warm Sands neighborhood.
      587 S Calle Ajo, Palm Springs, CA 92264
      View Details
    • $3,125,000
      19,602 SF

      Palm Springs Multifamily Investment Opportunity

      20-unit apartment complex in vibrant Uptown Palm Springs.
      2303 N Indian Canyon Dr, Palm Springs, CA 92262
      View Details
    • $1,150,000
      1,496 SF

      Mid-Century Modern Retreat

      Furnished Palm Springs home with mountain views and resort vibes.
      2499 S Palm Canyon Dr, Palm Springs, CA 92264
      View Details
    • $1,500,000
      195,149.00 Acres

      Palm Springs Land Leased to City

      Land in a desirable area, leased to the City of Palm Springs.
      N Avenida Caballeros St, Palm Springs, CA 92262
      View Details
    • $2,500,000

      Palm Springs Retail Building For Sale

      Fully occupied retail building near Palm Springs City Center.
      401 E Tahquitz Canyon Way, Palm Springs, CA 92262
      View Details
    • $854,700
      5,180 SF

      Free Standing Industrial Building

      Industrial building featuring office space, multiple grade-level doors, fenced yard.
      19437 Newhall St, Palm Springs, CA
      View Details
    • $1,750,000
      6,582 SF

      Well-Located Building on Major Corridor

      6,582 SF building with visibility and secured yard.
      1227 S Gene Autry Trl, Palm Springs, CA 92264
      View Details

    FAQs

    What type of property is this?
    Apartment building - Seven-unit apartment complex in desirable Palm Springs location.
    Where is this apartment building located?
    The property is located at 238 S Saturmino Dr Palm Springs, CA.
    What is the asking price?
    The asking price for this property is $1,799,000.
    What are key features of this property?
    This property features: - 7-unit apartment complex in Palm Springs; - Located in a highly desirable area near downtown amenities; - Strong rental corridor with high demand
    (909) 642-0201
    Request Owner's contact information
    238 S Saturmino Dr Palm Springs, CA 92262
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    238 S Saturmino Dr
    Palm Springs, CA 92262
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    238 S Saturmino Dr Palm Springs, CA 92262
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Michelle Bagi
    Real Estate License ID: 02112864
    (909) 642-0201 (909) 303-4500
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!