Four-Unit Quadplex with Private
New
For Sale
$1,050,000
587 El Placer Road, Palm Springs, CA 92264
Palm Springs, CA
Property Size2,408 SF
Lot Size0.26 Acres
Price / SF$436.05
Days on Market2
Property Features for 587 El Placer Road
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
5
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 3, Bathroom 5, Bedroom 4, Bathroom 4, Laundry Room, Bathroom 2, Bedroom 1, Bedroom 2
Subdivision
Other (OTHR)
Lot features
2-5 Units/ Acre
Directions
El Cielo Rd and Roman Rd
Standard status
Active
APN
680035013
Lot size
0.26 Acres
Utilities
Sewer type
Public Sewer
Amenities
gated entrances
outdoor lounging areas
landscaped walkways
decorative lighting
private backyards
Building Details
Year built
1958
Floors in Building
1
Number of units
4
Listing Agency:
RE/MAX TIME REALTY · RE/MAX International
(909) 373-0880
Listed By:
Margarita Junak · License #01893620
(951) 809-8184
Added: Oct 15
Changed: Oct 16
Last Checked: Oct 16 at 12:06PM
MLS# CV26222265
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1958, this four-unit property contains approximately 2,408 square feet of living space on a 0.26-acre lot. The unit mix consists of one two-bedroom, two-bathroom apartment and three one-bedroom, one-bathroom apartments. Units #2 and #4 are tenant-occupied. Each residence has a private backyard, with access to the common grounds or a separate street entrance. A six-foot perimeter wall and gated entrances enclose the site, which also includes landscaped walkways, outdoor seating and gathering areas, desert plantings, and drip irrigation. Public sewer serves the property.
On-site parking totals 12 spaces: two assigned spaces for each unit plus four guest spaces. The property is near Demuth Park, Palm Springs International Airport, shopping, restaurants, cultural attractions, and downtown Palm Springs.
On-site parking totals 12 spaces: two assigned spaces for each unit plus four guest spaces. The property is near Demuth Park, Palm Springs International Airport, shopping, restaurants, cultural attractions, and downtown Palm Springs.
Key Highlights
- Four units with approximately 2,408 square feet of living space on a 0.26‑acre lot
- Unit mix: one 2‑bedroom, 2‑bathroom apartment and three 1‑bedroom, 1‑bathroom apartments
- 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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Current Use
Lease Details
4
Residential units
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 - Two apartments are occupied, and the enclosed common grounds include landscaped paths and outdoor gathering areas.
Where is this quadplex located?
The property is located at 587 El Placer Road 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 units with approximately 2,408 square feet of living space on a 0.26‑acre lot; Unit mix: one 2‑bedroom, 2‑bathroom apartment and three 1‑bedroom, 1‑bathroom apartments; Units #2 and #4 are tenant‑occupied
