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583 S Calle Abronia, Palm Springs, California 92264, Palm Springs, 92264 - bed, bath

583 S Calle Abronia, Palm Springs, California 92264 home-pic-0
ACTIVE$1,199,000
583 S Calle Abronia, Palm Springs, California 92264
0Bed
0Bath
2,458Sqft
6,098Lot
Year Built
1936
Close
-
List price
$1.2M
Original List price
$1.2M
Price/Sqft
$488
HOA
-
Days on market
-
Sold On
-
MLS number
IG25076428
Home ConditionFair
Features
Good View: Mountain(s), Neighborhood
Patio
ViewMountain(s), Neighborhood

About this home

We found 3 Cons,5 Pros. Rank: price - $1.20M(50th), sqft - 2458(50th), beds - undefined(50th), baths - undefined(50th).

Introducing a unique investment opportunity awaited by astute investors and developers alike. A charming quadraplex, minimal maintenance property, with few operating expenses, nestled in the scenic neighborhood of Palm Springs. This property boasts a diverse unit mix, including one spacious 2-bedroom, 1-bath unit, two comfortable 1-bedroom, 1-bath units, and one extra-large studio with one bathroom and a separate kitchen. These units combine ample living space with functional design that maximizes space and comfort. Each unit has its own washer & dryer and electric meter. Parking is never an issue, with assigned parking for each tenant. This quadraplex is not just a place to live, it is an investment in comfort and convenience, promising long-term rental income prospects and immediate returns with a Cap rate of about 7. Location is the ace in the hole for this property! Centrally located to several golf courses nearby for convenience, and popular courses a bit farther out. A short stroll away is the Ramon at Indian Canyon bus station, placing convenience right on your tenant's doorstep. The Grocery Outlet is a mere stone's throw away for your grocery runs. Tahquitz Canyon offers acres of natural beauty that is less than a mile away for those moments when grounding calls. It’s the perfect backdrop for those Instagram-worthy sunset pics or a serene morning jog! Whether you're looking to live in one unit and accommodate multiple tenants in the other units, this property blends functionality with charm, set against the picturesque backdrop of Palm Springs. Turn this property into your profitable income property or your private oasis— or why not a bit of both? Opportunities are knocking; make sure you're home!

Nearby schools

4/10
Cahuilla Elementary School
Public,•K-5•0.5mi
4/10
Raymond Cree Middle School
Public,•6-8•2.1mi
4/10
Desert Learning Academy
Public,•K-12•1.2mi
6/10
Palm Springs High School
Public,•9-12•1.4mi
Condition Rating
Fair
Built in 1936, this quadraplex shows signs of regular maintenance but features significantly outdated interiors. Kitchens and bathrooms across all units display older white appliances, laminate countertops, basic fixtures, and dated tile or carpet flooring, suggesting renovations likely occurred 15-30 years ago. While functional and clean, these areas require substantial cosmetic updates to meet current quality standards and tenant expectations. The lack of a mentioned modern cooling system is also a concern for the Palm Springs climate.
Pros & Cons

Pros

Strong Investment Potential: This quadraplex is presented as a unique investment opportunity with promising long-term rental income prospects and immediate returns, boasting an attractive Cap rate of about 7%.
Exceptional Location & Amenities: The property benefits from a prime, central Palm Springs location, offering convenient access to golf courses, public transportation (bus station), essential shopping (Grocery Outlet), and natural attractions like Tahquitz Canyon.
Tenant-Friendly Features & Diverse Unit Mix: It features a desirable and diverse unit mix (2-bed, 1-bed, studio), with each unit equipped with its own washer/dryer, electric meter, and assigned parking, enhancing tenant appeal and simplifying management.
Low Operating Costs: Described as a 'minimal maintenance property, with few operating expenses,' which directly contributes to higher net operating income and profitability for investors.
Desirable Mountain Views: The property offers appealing mountain views, adding aesthetic value and enhancing its desirability in the Palm Springs market.

Cons

Advanced Age of Property: Built in 1936, the property's age suggests potential for outdated infrastructure (e.g., plumbing, electrical systems) and higher long-term maintenance or renovation costs, despite current claims of minimal maintenance.
Lack of Mentioned Cooling System: Given Palm Springs' extreme climate, the absence of any explicit mention of central air conditioning or a robust cooling system could be a significant drawback for tenant comfort and energy efficiency.
Potential for Interior Modernization: While described as 'charming,' a property built in 1936 may require substantial interior updates to meet contemporary tenant expectations for finishes and amenities, potentially incurring significant capital expenditure.

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