Gated Palm Springs
New
For Sale
$939,000
566 S Calle Ajo, Palm Springs, CA 92264
Residential Income, Palm Springs, CA
Property Size1,840 SF
Lot Size0.14 Acres
Price / SF$510.33
Days on Market1
Property Features for 566 S Calle Ajo
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
3
Bathrooms
3
Full bathrooms
1
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 1, Bedroom 3
Parking
2
Parking features
Covered, Driveway, Gated
Directions
Traveling West on Ramon, turn left onto S Calle Ajo and the property is on the left. Use preferred navigation app.
Subdivision
Palm Springs South End
Standard status
Active
APN
508-122-007
Size
1,840 SF
Lot size
0.14 Acres
Utilities
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Amenities
pool
spa
gated
off-street parking
in-unit washer and dryer
Building Details
Year built
1936
Floors in Building
1
Number of units
3
Listing Agency:
Equity Union
(760) 621-0395
Listed By:
Tim Cutler · License #02113054
(760) 904-1300
Added: Aug 26
Last Checked: Aug 26 at 6:06PM
MLS# 26853339PS
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This R2-zoned triplex at 566 S Calle Ajo includes three independent one-bedroom, one-bath residences within a gated setting. The property contains 1,840 square feet of living space on approximately 0.14 acres, with each unit featuring a full-size washer and dryer, tankless water heater, and separately metered electrical service. Central heating, central air, and ceiling fans support year-round comfort. The improvements were substantially rebuilt from the studs between 2019 and 2021, including electrical, plumbing, windows, doors, and roofing work.
Outdoor amenities include a saltwater pool and spa installed in 2025 with a Badujet Swim Jet Pro system. Covered and gated driveway parking, along with a secure mailbox wall, add practical site features. All three residences are vacant, allowing a new owner to determine occupancy and rental terms. The property is located in Palm Springs’ Warm Sands neighborhood, near downtown Palm Springs.
Outdoor amenities include a saltwater pool and spa installed in 2025 with a Badujet Swim Jet Pro system. Covered and gated driveway parking, along with a secure mailbox wall, add practical site features. All three residences are vacant, allowing a new owner to determine occupancy and rental terms. The property is located in Palm Springs’ Warm Sands neighborhood, near downtown Palm Springs.
Key Highlights
- Three one‑bedroom, one‑bath residences in a single triplex
- 1,840 square feet of total living space on approximately 0.14 acres
- Substantial rebuild completed from 2019 to 2021
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
$32,329
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
3.44%
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%
$646,580
$646.6K
Cap Rate 7%
$461,843
$461.8K
Cap Rate 9%
$359,211
$359.2K
Market Conditions
NOI Build-Up for 1,840 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
$47.0K $25.56/SF
− Vacancy
−$847 −$0.46/SF
EGI
$46.2K $25.10/SF
− OpEx
−$13.9K −$7.53/SF
NOI
$32.3K $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%
$646,580
Cap Rate 7%
$461,843
Cap Rate 9%
$359,211
Alternative Uses
Best Use
Multifamily LT 5
$461.8K
$404.1K – $538.8K
NOI $32,329 @ 7.0% cap · market cap 3.44%
Second Best
Apartment 5plus
$425.5K
$372.3K – $496.4K
NOI $29,783 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$551.2K
$482.3K – $643.1K
NOI $38,586 @ 7.0% cap · market cap 4.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,616
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 separate residences offer updated interiors, private outdoor amenities, and flexible occupancy options in Warm Sands.
Where is this triplex located?
The property is located at 566 S Calle Ajo Palm Springs, CA.
What is the asking price?
The asking price for this property is $939,000.
What are key features of this property?
This property features: Three one‑bedroom, one‑bath residences in a single triplex; 1,840 square feet of total living space on approximately 0.14 acres; Substantial rebuild completed from 2019 to 2021
