Remodeled Triplex with Heated
For Sale
$899,000
502 Calle Santa Rosa South, Palm Springs, CA 92264
Three-unit property with updated interiors, shared outdoor space, and R2 zoning.
Property Size1,700 SF
Price / SF$528.82
Days on Market246
Property Features for 502 Calle Santa Rosa South
General Information
Standard status
Active
Size
1,700 SF
Total Parking Spaces
1
Property subtype
Residential Income
Zoning
R2
Amenities
One
Window Unit(s), Ceiling Fan, Wall Unit(s), Multi/Zone
Wall
Inside, Outside
Vinyl, Tile, Other
Built-Ins, Ceiling Fan, Dishwasher, Dryer, Garbage Disposal, Microwave, Range/Oven, Refrigerator, Stackable W/D Hookup, Washer
Remodeled, Stone Counters
https://gregfrostphotography.seehouseat.com/2366672?idx=1
Ceiling Fan(s)
Own
Free Standing Gas, Microwave
Remodeled Kitchen, Stone Counters
Yes
Window Blinds, French Windows
Sprinkler System, Sprinkler Timer
In Ground, Heated
No
Building Details
Year Built
1957
Buildings
1
Stories
1
Units
3
Listing Agency:
Berkshire Hathaway HomeServices California Propert
(818) 203-9797
Listed By:
Richard Burt · License #01344361
(818) 203-9797
Source:
Compass
Added: Dec 26, 2025
Changed: Aug 29
Last Checked: Aug 29 at 3:34PM
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 Berkshire Hathaway HomeServices California Propert
Investment Insights
Based on property information with market context.
This 1,700-square-foot triplex in Palm Springs contains three residential units and was built in 1957. Unit 3 serves as the owner’s residence and is also used as a short-term rental, with a remodeled kitchen featuring custom cabinetry, designer backsplash, updated appliances, and stone counters. Its renovated bathroom includes a walk-in shower with built-in seating and storage niches. Unit 2 offers an open living area, newer vinyl flooring, granite counters, stainless steel appliances, generously sized bedrooms, and a Jack-and-Jill bathroom. Unit 1 is tenant-occupied and includes wood flooring, an updated kitchen, stainless steel appliances, custom cabinetry, countertops, and backsplash.
The property includes a shared outdoor area with an in-ground heated pool, along with window and wall cooling units, ceiling fans, laundry hookups, and a sprinkler system. Unit 1 and Unit 3 are currently occupied. Located at 502 Calle Santa Rosa South in the Warm Sands neighborhood, the triplex is near hiking trails, restaurants, shopping, and entertainment. The property is zoned R2.
The property includes a shared outdoor area with an in-ground heated pool, along with window and wall cooling units, ceiling fans, laundry hookups, and a sprinkler system. Unit 1 and Unit 3 are currently occupied. Located at 502 Calle Santa Rosa South in the Warm Sands neighborhood, the triplex is near hiking trails, restaurants, shopping, and entertainment. The property is zoned R2.
Key Highlights
- Three‑unit triplex with 1,700 square feet of property size
- In‑ground heated pool with shared outdoor community area
- R2 zoning and 1957 construction
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,869
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$597,380
$597.4K
Cap Rate 7%
$426,700
$426.7K
Cap Rate 9%
$331,878
$331.9K
Market Conditions
NOI Build-Up for 1,700 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$43.5K $25.56/SF
− Vacancy
−$782 −$0.46/SF
EGI
$42.7K $25.10/SF
− OpEx
−$12.8K −$7.53/SF
NOI
$29.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$597,380
Cap Rate 7%
$426,700
Cap Rate 9%
$331,878
Alternative Uses
Best Use
Multifamily LT 5
$426.7K
$373.4K – $497.8K
NOI $29,869 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$393.1K
$344.0K – $458.6K
NOI $27,517 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$509.3K
$445.6K – $594.2K
NOI $35,650 @ 7.0% cap · market cap 3.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,728
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with updated interiors, shared outdoor space, and R2 zoning.
Where is this triplex located?
The property is located at 502 Calle Santa Rosa South Palm Springs, CA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Three‑unit triplex with 1,700 square feet of property size; In‑ground heated pool with shared outdoor community area; R2 zoning and 1957 construction
