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FAITS SAILLANTS DE L'INVESTISSEMENT
- 21 Single-Story Units with a Desirable Mix of Studio, One, & Two-Bedroom Floor Plans
- Updated Swimming Pools at Each Building with New Plumbing, Electrical, Plaster, Tile, & Solar Heating
- Updated Building Systems with New Copper (509) or PEX Plumbing (561), Windows, HVACs, Roofs, Solar, & More
- 2 Adjacent Parcels Provide Ease of Management & Economies of Scale, Minimizing Expense Costs
- Desirable Amenity Package Including Private Patios, On-Site Laundry Facilities, & Secure Keypad Entry
RÉSUMÉ DE L'ANNONCE
The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 509 & 561 South Highland Drive, a 2-property, 21-unit multifamily investment portfolio located in Palm Springs, CA.
Situated on two neighboring parcels encompassing a combined 0.93 acres, 509 & 561 South Highland Drive offer a mix of studio, one, and two-bedroom floor plans. The majority of the units feature one bedroom, along with 2, studio units and 3, two-bedroom units - ideally suited for singles, couples, and retirees seeking well-located housing. The properties feature attractive amenities including secure keypad entry, private patios, swimming pools, ample surface parking, and on-site laundry facilities. Additionally, the properties feature exclusively single-story construction, a highly desirable characteristic to prospective renters. Furthermore, 509 & 561 South Highland Drive have recently undergone significant capital improvements including new plumbing, electrical, plaster, and tile as well as updated building systems including roofing, solar panels, and more.
509 & 561 South Highland Drive are situated in an optimal Palm Springs location, just moments away from shops and restaurants at El Cielo Center and The Springs. The properties are within a 0.85-mile radius of Demuth Park and Sunrise Park, two sprawling community centers granting residents convenient access to a plethora of outdoor activities. Additionally, the properties benefit from their close proximity to Palm Springs International Airport, a major employment and economic driver for the area, with tourism being a significant part of the local economy. Furthermore, Ramon Road, situated just to the north of the properties, provides easy access to Downtown Palm Springs, the heart of the city featuring a plethora of unique shops, restaurants, and entertainment options.
509 & 561 South Highland Drive’s desirable single-story construction and upgraded facilities are primary draws for potential renters. The overall demand for well-maintained and amenitized rental units will be a key driver in the continued growth and success at the properties.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Situated on two neighboring parcels encompassing a combined 0.93 acres, 509 & 561 South Highland Drive offer a mix of studio, one, and two-bedroom floor plans. The majority of the units feature one bedroom, along with 2, studio units and 3, two-bedroom units - ideally suited for singles, couples, and retirees seeking well-located housing. The properties feature attractive amenities including secure keypad entry, private patios, swimming pools, ample surface parking, and on-site laundry facilities. Additionally, the properties feature exclusively single-story construction, a highly desirable characteristic to prospective renters. Furthermore, 509 & 561 South Highland Drive have recently undergone significant capital improvements including new plumbing, electrical, plaster, and tile as well as updated building systems including roofing, solar panels, and more.
509 & 561 South Highland Drive are situated in an optimal Palm Springs location, just moments away from shops and restaurants at El Cielo Center and The Springs. The properties are within a 0.85-mile radius of Demuth Park and Sunrise Park, two sprawling community centers granting residents convenient access to a plethora of outdoor activities. Additionally, the properties benefit from their close proximity to Palm Springs International Airport, a major employment and economic driver for the area, with tourism being a significant part of the local economy. Furthermore, Ramon Road, situated just to the north of the properties, provides easy access to Downtown Palm Springs, the heart of the city featuring a plethora of unique shops, restaurants, and entertainment options.
509 & 561 South Highland Drive’s desirable single-story construction and upgraded facilities are primary draws for potential renters. The overall demand for well-maintained and amenitized rental units will be a key driver in the continued growth and success at the properties.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
TAXES ET DÉPENSES D’EXPLOITATION (RÉEL - 2025) |
ANNUEL (CAD) |
|---|---|
| Revenu de location brut |
545 535 $
|
| Autres revenus |
2 775 $
|
| Perte due à l’inoccupation |
27 276 $
|
| Revenu brut effectif |
521 034 $
|
| Taxes |
55 308 $
|
| Dépenses d’exploitation |
155 182 $
|
| Total des dépenses |
210 489 $
|
| Revenu net d’exploitation |
310 545 $
|
TAXES ET DÉPENSES D’EXPLOITATION (RÉEL - 2025)
| Revenu de location brut (CAD) | |
|---|---|
| Annuel | 545 535 $ |
| Autres revenus (CAD) | |
|---|---|
| Annuel | 2 775 $ |
| Perte due à l’inoccupation (CAD) | |
|---|---|
| Annuel | 27 276 $ |
| Revenu brut effectif (CAD) | |
|---|---|
| Annuel | 521 034 $ |
| Taxes (CAD) | |
|---|---|
| Annuel | 55 308 $ |
| Dépenses d’exploitation (CAD) | |
|---|---|
| Annuel | 155 182 $ |
| Total des dépenses (CAD) | |
|---|---|
| Annuel | 210 489 $ |
| Revenu net d’exploitation (CAD) | |
|---|---|
| Annuel | 310 545 $ |
FAITS SUR LA PROPRIÉTÉ
| Prix | 4 767 067 $ CAD | Nombre de propriétés | 2 |
| Prix/pi² | 309,75 $ CAD / pi² | Individuellement en vente | 0 |
| Taux de capitalisation | 6,51% | Taille totale du bâtiment | 15 390 pi² |
| Type de vente | Investissement | Superficie totale du terrain | 0,93 AC |
| Statut | Actif |
| Prix | 4 767 067 $ CAD |
| Prix/pi² | 309,75 $ CAD / pi² |
| Taux de capitalisation | 6,51% |
| Type de vente | Investissement |
| Statut | Actif |
| Nombre de propriétés | 2 |
| Individuellement en vente | 0 |
| Taille totale du bâtiment | 15 390 pi² |
| Superficie totale du terrain | 0,93 AC |
PROPRIÉTÉS
| NOM DE LA PROPRIÉTÉ/ADRESSE | TYPE DE PROPRIÉTÉ | TAILLE | ANNÉE DE CONSTRUCTION | PRIX INDIVIDUEL |
|---|---|---|---|---|
| 509 S Highland Dr, Palm Springs, CA 92264 | Immeuble residentiel | 11 067 pi² | 1959 | - |
| 561 S Highland Dr, Palm Springs, CA 92264 | Immeuble residentiel | 4 323 pi² | 1962 | - |
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Highland Portfolio
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