$3,895,000

1850 S Camino Real, Palm Springs, CA 92264

  • 26 beds |
  • 26 baths |
  • 16,600 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1976
  • Property Lot Size Icon1.22acre lot
  • Property Parking Icon 2 car garage
  • Property Price Per Square Feet Icon $235/sqft
  • Property List Date Icon Listed 9 days ago

Property Description

A rare multifamily offering in one of Palm Springs' most sought-after locations, delivering 13 single-level units across three well-positioned structures. The unit mix is anchored by eleven oversized 2-bedroom, 2-bath residences averaging approximately 1,200 sq ft, complemented by two exceptional premium units spanning roughly 1,700 sq ft each featuring 2 bedrooms, 2 bathrooms, a den, expansive primary suites with oversized walk-in closets, and direct-entry 1-car garages with laundry hookups. Many units open onto a central pool/spa with tremendous mountain views and the rest open onto expansive central lawns. The asset has demonstrated consistent income growth, increasing from $265,440 in 2023 to $301,629 in 2025, with continued upward momentum into 2026. Current operations reflect elevated expenses of approximately 48%, presenting a clear and immediate opportunity to streamline to a more typical 35-40% range. Based on current averaged expenses and 2026 rent actuals the offering presents at an approximate 4.5% cap rate, with additional upside driven by both operational efficiencies and the underutilized premium unit mix. DO NOT ACCESS ANY PORTION OF THE PROPERTY WITHOUT LISTING AGENT PRESENT. DO NOT ENGAGE WITH TENANTS. 22 off-street parking spots and owned laundry facilities.

Listing Status:
Active
Date Added:
March 25, 2026
Data Last Updated:
April 3, 2026 at 6:17PM
Listing Office:
Compass : 760-350-9253
Listing Agent:
James Gault : 760-350-9253
MLS ID:
26669731PS
  • General: Ceiling Fan(s)
  • Appliances: DishwasherRefrigerator
  • Laundry: Common AreaLaundry Room
  • Flooring: Tile
  • A/C: Central Air
  • Heating: Central
  • Fireplace: DenKitchenLiving RoomOutsideFireplace
  • General: In Ground
  • Other Structures: Concrete
  • Pool: CommunityAssociation
  • Parking: UncoveredParking spaces: 22
  • Roofing: Foam
  • General: Stucco1Slab
  • HOA Amenities: PoolSpa/Hot Tub
  • Originating MLS: CRMLS_CL
  • County: Riverside
  • Zoning: R2511052008
  • View: Mountain(s)PoolView
  • Water: Public
  • Sewer: Sewer Tap Paid
  • Source: CRMLS_CL

This listing courtesy of James Gault , Compass

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

C

Cahuilla Elementary School

833 E Mesquite Ave, Palm Springs, CA, 92264

Grades KG-5

0.65 miles away

D

Desert Learning Academy

2248 E Ramon Rd, Palm Springs, CA, 92264

Grades KG-12

1.53 miles away

D

Desert Learning Academy

2248 E Ramon Rd, Palm Springs, CA, 92264

Grades KG-12

1.53 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.