CA > Palm Springs > El Mirador
Palm Springs, CA 92262,588 E Mel AVE
Palm Springs, CA 92262,588 E Mel AVE
Palm Springs, CA 92262,588 E Mel AVE
Palm Springs, CA 92262,588 E Mel AVE
Palm Springs, CA 92262,588 E Mel AVE
Palm Springs, CA 92262,588 E Mel AVE
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Mon
15
Dec
Tue
16
Dec
Wed
17
Dec
KiKi Freeman

KiKi Freeman

+1(323) 396-3918
$ 3,850,000
Est. payment | /mo

20 Beds

20 Baths

8,711 SqFt

Save
$ 3,850,000
Est. payment | /mo
Save

20 Beds

20 Baths

8,711 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 8,711 sqft

Price per Sqft $441

Subdivision El Mirador

MLS Listing ID 219139441DA

Bedrooms 20

Full Baths 20

Year Built 1964

Lot Size 0.520 Acres

Acres 0.52

Property Sub-Type Multi-Family

Property Description

Wilson Meade Commercial is pleased to exclusively present the opportunity to acquire the Hermosa Palms, a 20-unit multi-family asset in Palm Springs.This charming, single-story property is comprised of studio units arranged around a central pool, and is located in close proximity to Palm Springs' renowned shopping and dining district.The preferred location, coupled with the highly desirable studio mix, has contributed to the property's historically low vacancy rate.The units have been meticulously maintained, with most remodeled to include tile/vinyl flooring and modern fixtures. Each unit features a kitchen, walk-in closet, full bathroom, and LED lighting throughout.The Hermosa Palms offers new ownership a well-positioned, turnkey investment with strong historical performance and continued upside potential through rent growth.*Ask about the assumable 3.45% interest rate financing!CAP Rate - 6.49% | GRM - 10.89 | Cash Flow - 7.59%

Location

State CA

County Riverside

Area Palm Springs Central

Interior

Heating Wall

Cooling Air Conditioning, Wall/Window

Flooring Tile, Vinyl

Exterior

Parking Features Unassigned

Garage Spaces 13.0

Pool Community, In Ground

View Y/N Yes

View Mountains

Building

Story 1

Sewer Assessments

Level or Stories Ground Level

Schools

School District Palm Springs Unified

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Wilson-Meade Commercial Real Estate
KiKi Freeman

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(323) 396-3918

admin@kikifreeman.com

2450 Colorado Ave, Santa Monica, California, 90404, USA

GET MORE INFORMATION

Name
Phone*
Message

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from or on behalf of Noel Realty Co., including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

Go tour this home

588 E Mel AVE