Four-Unit Multifamily Property with Private
New
For Sale
$1,050,000
587 El Placer Rd, Palm Springs, CA 92264
Residents share landscaped outdoor areas, and every residence has its own backyard.
Property Size4 SF
Lot Size0.26 Acres
Price / SF$436.05
Days on Market2
Property Features for 587 El Placer Rd
General Information
Standard status
Active
Size
4 SF
Lot size
0.26 Acres
Property subtype
Investment
Units
Unit Mix
1 x 2BR/2BA, 3 x 1BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Amenities
gated entrance
outdoor lounge areas
private backyard
Building Details
Building Size
4 SF
Year Built
1958
Stories
1
Units
4
Construction
mid-century modern
Tenancy
Multi
Listing Agency:
RE/MAX Time
Listed By:
Margarita Junak · License #01893620
(951) 809-8184
Source:
Elliman
Added: Oct 19
Last Checked: Oct 19 at 2:01PM
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 RE/MAX Time
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Investment Insights
Based on property information with market context.
Built in 1958, this four-unit multifamily property contains approximately 2,408 sq. ft. of living space on an 11,326 sq. ft. lot. Unit #2 has two bedrooms and two bathrooms; Units #1, #3 and #4 each have one bedroom and one bathroom. Units #2 and #4 are tenant-occupied.
A six-foot perimeter wall and gated entrances enclose common outdoor areas with places to lounge and gather, illuminated walkways, desert landscaping and drip irrigation. Each residence has a private backyard, with access to the shared grounds or a separate street entrance. The property is near Demuth Park, Palm Springs International Airport, shopping, restaurants, cultural attractions and downtown Palm Springs.
A six-foot perimeter wall and gated entrances enclose common outdoor areas with places to lounge and gather, illuminated walkways, desert landscaping and drip irrigation. Each residence has a private backyard, with access to the shared grounds or a separate street entrance. The property is near Demuth Park, Palm Springs International Airport, shopping, restaurants, cultural attractions and downtown Palm Springs.
Key Highlights
- Four residences with approximately 2,408 sq. ft. of living space on an 11,326 sq. ft. lot
- Unit #2 has 2 bedrooms and 2 bathrooms; Units #1, #3 and #4 each have 1 bedroom and 1 bathroom
- Units #2 and #4 are tenant‑occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,308
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$846,160
$846.2K
Cap Rate 7%
$604,400
$604.4K
Cap Rate 9%
$470,089
$470.1K
Market Conditions
NOI Build-Up for 2,408 SF
Gross rent
$61.5K $25.56/SF
− Vacancy
−$1.1K −$0.46/SF
EGI
$60.4K $25.10/SF
− OpEx
−$18.1K −$7.53/SF
NOI
$42.3K $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 Rate 5%
$846,160
Cap Rate 7%
$604,400
Cap Rate 9%
$470,089
Alternative Uses
Best Use
Multifamily LT 5
$604.4K
$528.9K – $705.1K
NOI $42,308 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$556.8K
$487.2K – $649.6K
NOI $38,977 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$721.4K
$631.2K – $841.6K
NOI $50,498 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
708
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Residents share landscaped outdoor areas, and every residence has its own backyard.
Where is this quadplex located?
The property is located at 587 El Placer Rd Palm Springs, CA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Four residences with approximately 2,408 sq. ft. of living space on an 11,326 sq. ft. lot; Unit #2 has 2 bedrooms and 2 bathrooms; Units #1, #3 and #4 each have 1 bedroom and 1 bathroom; Units #2 and #4 are tenant‑occupied
