508 Desert Vw Dr Palm Springs, CA 92264-1037
Property profile & analytics
508 Desert Vw Dr Palm Springs, CA 92264-1037
- Apartment buildings
- 2,372 SF
- 0.23 lot acres
Property ID
US09-0265023
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Apartment buildings
Property Details for 508 Desert Vw Dr
- Year built
- 1960
- Construction
- TILT-UP CONCRETE
- Lot size
- 0.23 lot acres
- Property size
- 2,372 SF
- Zone code
- R2
- Property type
- Apartment buildings
- APN
- 680-032-001
- APU
- 680032001
Description
This exceptional investment opportunity presents a five-unit apartment building located at 508 Desert View Drive, Palm Springs, CA 92264. The property, built in 1960, boasts a total of 2,372 square feet situated on a 10,018.8 square foot lot (APN: 680-032-001). The building consists of one single-story structure with a mix of four studio units and one two-bedroom, two-bathroom unit. Currently operating at 100% occupancy with all tenants on month-to-month leases, this presents a significant opportunity for value-add investors due to below-market rents. The property features on-site laundry facilities owned by the landlord and five on-site parking spaces. All utilities are currently paid by the landlord. The asking price is $900,000, representing a price per unit of $180,000. The current Net Operating Income (NOI) is $35,550.47, resulting in a 3.95% capitalization rate (Cap Rate). Pro forma projections indicate a potential NOI of $52,479.47 and a 5.83% Cap Rate. The property is zoned R2 and is conveniently located near Palm Springs International Airport and downtown Palm Springs. This is a fee simple ownership opportunity.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $675,000
- ML approach
- $665,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $640,000
- 6.5%
- $590,000
- 7%
- $550,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $743,000
Market price range: $211k - $920k -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $865,000 Current use
- AUTO REPAIR, GARAGE
- $1,025,000 Change: +18% Conversion: Difficult
- WAREHOUSE, STORAGE
- $960,000 Change: +11% Conversion: Difficult
- RETAIL STORES
- $860,000 Change: -1% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Palm Springs
- County
- Riverside
- State
- California
- Longitude
- -116.509
- Latitude
- 33.8156
- CBSA code
- 40140
- CBSA name
- RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$9,228
$159,181
$477,543
$636,724
-
$0.00
$0.00
$0.00
