92264 Homes with Apartment Subtype

Welcome to the vibrant zip code 92264, nestled in the heart of Palm Springs, California! This stunning area, part of Riverside County, is renowned for its picturesque landscapes, warm climate, and a rich tapestry of culture and leisure activities. With the majestic San Jacinto Mountains as a backdrop, 92264 offers residents an idyllic desert lifestyle that perfectly blends relaxation with adventure.

One of the unique features of this area is its diverse real estate market, particularly homes with an apartment subtype. These properties are perfect for those seeking flexibility, whether you need a separate living space for guests, a rental unit for additional income, or a home office away from the main living area. Many of these homes boast modern amenities, spacious layouts, and private outdoor spaces, allowing you to soak up the sun and enjoy the stunning desert sunsets.

Living in 92264 means you are just moments away from Palm Springs' vibrant downtown, filled with chic boutiques, gourmet restaurants, and lively entertainment options. Explore the famous Palm Springs Aerial Tramway, take a dip in one of the area's luxurious pools, or enjoy a round of golf at one of the many nearby courses.

With its unique blend of charm, convenience, and community spirit, 92264 is more than just a zip code—it's a lifestyle. Whether you're looking to invest, retire, or simply find your dream home, the homes with an apartment subtype in this area offer a unique opportunity to embrace all that Palm Springs has to offer. Come discover your slice of paradise today!

Newest 92264 Homes with Apartment Subtype

$799,000

CV26070291 MLS ⋅ Active Status

We are pleased to present the opportunity to acquire 3737 E Calle De Carlos, a five-unit multifamily investment property located in the Demuth Park submarket of Palm Springs, California. Offered at $799,000, the property presents a unique value-add opportunity with four of the five units currently vacant, providing a new owner with immediate flexibility to execute their preferred investment strategy. Investors may elect to lease the available units in their current configuration, renovate and reposition the interiors, or explore converting the large studio floor plans into one-bedroom units to further enhance rental income and long-term value. Built in 1967, the property consists of approximately 3,625 square feet of rentable living area situated on an approximately 0.23-acre lot. The unit mix consists of five large studio / one-bathroom units averaging approximately 725 square feet, each featuring an open floor plan and private rear patio. Additional features include open parking and an on-site laundry room. The all-electric property is individually metered for electricity, while ownership pays water, sewer, and trash.At the current asking price, leasing the vacant units at market rents in their existing studio configuration results in a projected stabilized cap rate of approximately 6.74%, providing an attractive return without requiring substantial repositioning. For investors seeking additional upside, the combination of large floor plans, private patios, and four available units creates an opportunity to renovate and reposition the interiors or explore one-bedroom conversions, subject to buyer verification. Located in an established Palm Springs residential neighborhood, the property benefits from convenient proximity to Palm Springs International Airport, Palm Springs High School, and the retail, dining, and entertainment amenities of Downtown Palm Springs. Overall, 3737 E Calle De Carlos presents a compelling value-add opportunity with multiple paths to increased income and long-term value. With four units available for immediate repositioning, a new owner has the flexibility to lease the studios at market rents, renovate and enhance the existing units, or explore converting the large studio floor plans into one-bedroom units. The offering combines a clear path to stabilization with multiple opportunities to enhance income and create long-term value.

3737 E Calle De Carlos, Palm Springs

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