343 Tramview Rd Palm Springs, CA 92262
- Dormitories
- 3,200 SF
- 0.18 lot acres
Current Use by Public Records
- Dormitories
Property Details for 343 Tramview Rd
- Year built
- 1980
- Lot size
- 0.18 lot acres
- Property size
- 3,200 SF
- Property type
- Dormitories
- Property subtype
- Student housing
- APN
- 669-401-003
Description
This exceptional investment opportunity presents a meticulously maintained fourplex located at 343 W Tramview Rd, Palm Springs, CA 92262. Built in 1980 and extensively renovated in 2020, this property boasts 3,200 square feet across two single-story buildings, situated on a 0.18-acre lot. The property features four 2-bedroom, 1-bathroom units, each approximately 800 square feet, equipped with modern amenities including washer hookups, gas stoves, and mini-split AC/heat units. Residents are responsible for electricity, gas, and internet, while water, sewer, trash, and landscaping are included in the rent. The property offers secured entry and ample off-street parking with eight spaces. Currently generating a substantial monthly income of $5,850, this stabilized investment boasts a projected net operating income (NOI) of $44,032, resulting in a compelling 4.08% cap rate. The property is zoned R-1-D and features four gas meters, four electric meters (no house meter), and one water meter. Priced at $1,080,000, this represents a price per unit of $270,000 and a price per square foot of $337.50. This fee-simple ownership offers a strong return on investment in a desirable Palm Springs location. The property's strong financial performance and modern updates make it an ideal addition to any investment portfolio, suitable for both owner-users and investors. The property's APN is 669-401-003.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Palm Springs
- County
- Riverside
- State
- California
- Longitude
- -116.54923144878
- Latitude
- 33.866700110538
