Two-Residence Duplex with
221 Avenida Ortega Unit 2, Palm Springs, CA 92264
For Sale
$795,000
Two detached homes share an R-3-zoned parcel with gated access and off-street parking.
Property Size1,624 SF
Lot Size0.17 Acres
Price / SF$489.53
Days on Market75
Property Features for 221 Avenida Ortega Unit 2
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Property Condition
Severity
Evidence
Units
Unit Mix
Multifamily Units
Amenities
pool
spa
perimeter security
Building Details
Building Size
Year Built
Buildings
Listing Agency:
WINNIE CHEN, BROKER
Listed By:
Winnie Chen · License #01899567
(626) 485-2510
Source:
Calnativere
Added: Aug 26
Changed: Nov 7
Last Checked: Nov 7 at 8:19PM
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 WINNIE CHEN, BROKER
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Investment Insights
Based on property information with market context.
This duplex property comprises two detached residences with a combined 1,624 square feet on a 7,405-square-foot lot. The front home offers two bedrooms and one bathroom across approximately 824 square feet; the rear home has two bedrooms, one and a half bathrooms, and approximately 800 square feet. Both interiors have been updated, and the property includes a recently completed in-ground pool and spa with equipment less than one year old. The structures and pool are described as ready for use, while the desert landscaping may need attention.
The parcel is in Palm Springs and carries R-3 zoning. A perimeter fence, cinderblock walls, private gates, and driveway parking for up to three vehicles are also on site. San Jacinto Mountain views are noted.
The parcel is in Palm Springs and carries R-3 zoning. A perimeter fence, cinderblock walls, private gates, and driveway parking for up to three vehicles are also on site. San Jacinto Mountain views are noted.
Key Highlights
- Two detached residences totaling 1,624 square feet on a 7,405‑square‑foot lot
- Front home: 2 bedrooms, 1 bathroom, approximately 824 square feet
- Rear home: 2 bedrooms, 1.5 bathrooms, approximately 800 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,534
Cap Rate
3.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$570,680
$570.7K
Cap Rate 7%
$407,629
$407.6K
Cap Rate 9%
$317,044
$317.0K
Market Conditions
NOI Build-Up for 1,624 SF
Gross rent
$41.5K $25.56/SF
− Vacancy
−$747 −$0.46/SF
EGI
$40.8K $25.10/SF
− OpEx
−$12.2K −$7.53/SF
NOI
$28.5K $17.57/SF
Area
Riverside County, CA
Vacancy
1.80%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$570,680
Cap Rate 7%
$407,629
Cap Rate 9%
$317,044
Alternative Uses
Best Use
Multifamily LT 5
$407.6K
$356.7K – $475.6K
NOI $28,534 @ 7.0% cap · market cap 3.59%
Second Best
Apartment 5plus
$375.5K
$328.6K – $438.1K
NOI $26,287 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$486.5K
$425.7K – $567.6K
NOI $34,057 @ 7.0% cap · market cap 4.28%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
414
Businesses Nearby
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Business Placement
Demographics for 92264, CA
19,254
Population
17,518
Households
1.1
Avg Household Size
61
Median Age
48%
College-Educated
94%
High-School Grad
50.9 sq mi
ZIP Area
378
Density / Sq Mi
$75,246
Median Household Income
$46,756
Median Earnings
$1,581
Median Rent
$498,200
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Riverside County, CA
Properties on Market for Duplexes in Riverside County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two detached homes share an R-3-zoned parcel with gated access and off-street parking.
Where is this duplex located?
The property is located at 221 Avenida Ortega Unit 2 Palm Springs, CA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Two detached residences totaling 1,624 square feet on a 7,405‑square‑foot lot; Front home: 2 bedrooms, 1 bathroom, approximately 824 square feet; Rear home: 2 bedrooms, 1.5 bathrooms, approximately 800 square feet
