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    Palm Springs Multi-Family Investment Title is generated by Realmo AI

    246 Laredo Drive, Palm Springs, CA 92264

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    For Sale
    $239,000

    MULTI_FAMILY - Palm Springs, CA

    Property size:
    1,440 SF
    Lot size:
    0.10 Acres
    Price / SF:
    $165/SF
    Added:
    Mar 30, 2026
    Days on Market:
    50
    Last Refresh:
    May 18 at 10:06 am

    Property Features for 246 Laredo Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    2
    Bathrooms
    2
    Rooms
    Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1
    Parking
    2
    Parking features
    Carport
    Spa
    1
    Window features
    Double Pane Windows, Drapes, Blinds
    Pool private
    1
    Interior features
    Quartz Counters, Vaulted Ceiling(s), Open Floorplan, Recessed Lighting, Wet Bar
    Fencing
    Fenced
    Appliances
    Dishwasher, Dryer, Electric Oven, Exhaust Fan, Gas Cooktop, Refrigerator, Washer, Water Filter, Water Line to Refrigerator
    Standard status
    Active
    APN
    681311069
    Size
    1,440 SF
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    1576

    Utilities

    Utilities
    Cable Available
    Heating system
    Natural Gas, Central, Forced Air
    Cooling system
    Central Air, Ceiling Fan(s)

    Building Details

    Year built
    1976
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Laminate
    Building materials
    Wood Siding
    Roof type
    Elastomeric, Metal

    We can help!

    Listing Contact
    Romona M Eggenberger

    Listing agent Romona M Eggenberger

    Listing office HomeSmart 73301 Fred Waring Dr., Ste 101, Palm Springs, CA

    Listing date Mar 30, 2026

    MLS# 219145553 Listing URL

    Copyright © 2026 California Desert Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime Palm Springs location: Heart of the city, near airport, shopping, dining, and casinos.
    • Investor opportunity: Own the land with tenant in place and no age restrictions for owners.
    • Updated home: $20,000 in updates completed in 2024.
    • Affordable HOA: $355 per month, tenant pays utilities.
    • Community amenities: Clubhouse, 2 pools, spas, tennis courts, and RV parking.
    • Interior features: Enjoy quartz counters, vaulted ceilings, open floorplan, and wet bar.

    Overview

    This multi-family property is located in Palm Springs, California, near the airport, shopping, dining, and casinos. The Homeowners Association (HOA) fee is $355 per month, and tenants are responsible for utilities. Community amenities include a clubhouse, two pools, spas, tennis courts, and an RV parking area. The location is near Trader Joe's and downtown. The property has 1440 square feet of living space and a lot size of 0.1 acres. The property has had $20,000 in updates since purchased in 2024. The property is clean and maintained.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm Springs
    County
    Riverside
    State
    California
    Longitude
    -116.478487
    Latitude
    33.792324

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    FAQs

    What type of property is this?
    Single family property - Multi-family property in Palm Springs near amenities, tenant in place.
    Where is this single family property located?
    The property is located at 246 Laredo Drive Palm Springs, CA.
    What is the asking price?
    The asking price for this property is $239,000.
    What are key features of this property?
    This property features: Prime Palm Springs location: Heart of the city, near airport, shopping, dining, and casinos.; Investor opportunity: Own the land with tenant in place and no age restrictions for owners.; Updated home: $20,000 in updates completed in 2024.
    (775) 527-0009
    We can help!
    Listing Contact
    Romona M Eggenberger
    Learn More
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    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.

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