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495 E Twin Palms Drive

Palm Springs, CA 92264
  • $7,500,000
  • STATUS: Active
  • ON SITE: 282 Days
  • ID#: IV25172556
Price Reduced
UPDATED: 229 min ago
$7,500,000
  • 0
    BEDS
  • 2.34
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1965
County:

School Ratings & Info

Listing Agent(s): Darren Correa of LE INVESTMENT GROUP (909-256-7889)


Description

The Twin Palms Villas lot totals at 2.34 acres and consisting of 5 buildings and multiple parking lots. The property is located at 495 E Twin Palms Drive, Palm Springs, CA, and is conveniently located a short distance from the Downtown Palm Springs, the Historic Tennis Club, the Palm Springs Art Museum, the Palm Springs International Airport & many major regional employers. This 51 unit apartment community is composed of (41) One bedroom / One bathroom units and (10) Two bedroom /One bathroom units. The current ownership’s emphasis has been on quality updates which include capital improvements exceeding $300,000 within the last year. Some of these improvements include parking lot re-done, floor replacement, window replacement, HVAC replacement, rehab expenses, landscaping expenses, plumbing replacement, and numerous other quality updates

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Based on information from California Regional Multiple Listing Service, Inc. as of 2026-05-10T00:37:38.39. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Empire Properties. Licensed in the State of California, USA.
www.inlandempiresold.com/homes/166471096
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495 E Twin Palms Drive Palm Springs, CA 92264

  • Price: $7,500,000
  • Status: Active
  • On Site: 282 Days
  • Updated: 229 min ago
  • ID#: IV25172556
0
Beds
0
Baths
0
½ Baths
2.34
Acres
1965
Built
Neighborhood:
Twin Palms (33512)
County:
Riverside
Area:
334 - South End Palm Springs
Property Description
The Twin Palms Villas lot totals at 2.34 acres and consisting of 5 buildings and multiple parking lots. The property is located at 495 E Twin Palms Drive, Palm Springs, CA, and is conveniently located a short distance from the Downtown Palm Springs, the Historic Tennis Club, the Palm Springs Art Museum, the Palm Springs International Airport & many major regional employers. This 51 unit apartment community is composed of (41) One bedroom / One bathroom units and (10) Two bedroom /One bathroom units. The current ownership’s emphasis has been on quality updates which include capital improvements exceeding $300,000 within the last year. Some of these improvements include parking lot re-done, floor replacement, window replacement, HVAC replacement, rehab expenses, landscaping expenses, plumbing replacement, and numerous other quality updates
Exterior Features

Entry Level 1 Entry Location 1 Lot Features Corner Lot Number Of Separate Electric Meters 51 Open Parking Spaces 56 Parking Total 56 Pool Features CommunityFenced Pool Private YN No Property Attached YN Yes Spa Features Community Spa YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Cap Rate 7.9 Common Interest Community Apartment Community Features SidewalksPool Electric Expense 40850 Fuel Expense 40850 Garage YN No Gross Income 1031388 Gross Scheduled Income 1031388 Insurance Expense 25500 Land Lease Amount 4060 Land Lease Amount Frequency Monthly Land Lease YN Yes Laundry Features Common Area Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Conventional Net Operating Income 1095991 New Construction YN No Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Operating Expense 503317 Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 40850 Water Sewer Expense 40850 Water Source Public Zoning RTP



Based on information from California Regional Multiple Listing Service, Inc. as of 2026-05-10T00:37:38.39. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or RE/MAX Empire Properties. Licensed in the State of California, USA.
 
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RE/MAX Empire Properties
street
Hemet CA, 92545
Listing Agent(s): Darren Correa of LE INVESTMENT GROUP (909-256-7889)