24-Unit Apartment Community with
1433 Indian Canyon Drive Palm Springs, CA 92262
New
1433 Indian Canyon Drive, Palm Springs, CA, 92262
$3,500,000
For Sale
$3,500,000
Sunset Palms Apartments offers studios, one- and two-bedroom units with upgraded interiors, plus two gated pool courtyards and open parking.
Days on Market5
Property Features for 1433 Indian Canyon Drive
General Information
- Standard status
- Active
- Property subtype
- Commercial
Building Details
- Year Built
- 1936
Listing agency
TRIQOR GROUP
(949) 756-3232
Listed by
RYAN LORIA · License #02006138
Source
Corcoran
Added: Jul 18 Updated: Jul 21 at 7:19AM Checked: Jul 21 at 7:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of TRIQOR GROUP
Investment Insights
Based on property information with market context.
Sunset Palms Apartments is a well-maintained 24-unit apartment community offering studios, one-bedroom, and two-bedroom units across three side-by-side individual parcels. Many units feature wood-look porcelain tile flooring, upgraded kitchens and bathrooms, stainless steel sinks, and new dual-pane windows and sliding glass doors. Community improvements include two swimming pools located within gated courtyards, along with new ductless mini split heating and air conditioning systems and ample open parking.
The property is presented for sale as a value-add investment opportunity. It is currently generating a 5.5% cap rate on in-place rents, with an indicated 28% upside in rental income and the potential to achieve an 8.2% cap rate as rents are brought to market.
Overall, the mix and recent interior and mechanical upgrades support a straightforward strategy to improve operating performance through rent management within the existing apartment configuration.
The property is presented for sale as a value-add investment opportunity. It is currently generating a 5.5% cap rate on in-place rents, with an indicated 28% upside in rental income and the potential to achieve an 8.2% cap rate as rents are brought to market.
Overall, the mix and recent interior and mechanical upgrades support a straightforward strategy to improve operating performance through rent management within the existing apartment configuration.
Key Highlights
- 24‑unit apartment community built in 1936 in Palm Springs, CA
- Unit mix includes studios, 1‑bedroom, and 2‑bedroom units across three side‑by‑side individual parcels
- Most units feature upgraded wood‑look porcelain tile floors, upgraded kitchens and bathrooms, and dual pane windows/sliding glass doors
Property Analytics
Location Intelligence
Current Use by Public Records
Sunset Palms
Apartment Complex
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Sunset Palms Apartments offers studios, one- and two-bedroom units with upgraded interiors, plus two gated pool courtyards and open parking.
Where is this apartment building located?
The property is located at 1433 Indian Canyon Drive Palm Springs, CA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: 24‑unit apartment community built in 1936 in Palm Springs, CA; Unit mix includes studios, 1‑bedroom, and 2‑bedroom units across three side‑by‑side individual parcels; Most units feature upgraded wood‑look porcelain tile floors, upgraded kitchens and bathrooms, and dual pane windows/sliding glass doors
