Palm Springs, CA 92264 495 E Twin Palms Drive

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Presented By: DARREN CORREA with LE INVESTMENT GROUP; 714-310-2840
  • California Regional MLS (CRMLS) - 25 - CA
  • MLS# IV25172556
  • 07/31/2025
  • Request Tour
  • Request Info
Disclaimer: The information contained in this listing has not been verified by Sell Buy OC Homes and should be verified by the buyer.
  • Beds • 41
  • Baths • 1
  • SQFT • 37,700

Home Details

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.
Presented By: DARREN CORREA with LE INVESTMENT GROUP; 714-310-2840

Interior Features for 495 E Twin Palms Drive

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories1

Other Rooms

Entry Level1

General for 495 E Twin Palms Drive

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate7.02
Carport Y/NNo
CityPalm Springs
Community FeaturesSidewalks, Pool
CountyRiverside
DirectionsFrom S Palm Canyon Dr, head east on E Twin Palms Dr. Property will be on the right, just past S Camino Real.
Electric Expense40850.0
Entry Location1
Fuel Expense40850.0
Garage Spaces0.0
Garage Y/NNo
Gross Income1175731.0
HOANo
Home Warranty Y/NNo
Insurance Expense25500.0
Land Lease Amount4060.0
Land Lease Amount FrequencyMonthly
Land Lease Y/NYes
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsOne
Listing TermsConventional
Lot Size Square Feet101930.0
Lot Size UnitsSquareFeet
MLS Area334 - South End Palm Springs
MobileHomeRemainsYNNo
Net Operating Income1175731.0
New ConstructionNo
Number Of Units Total51
Open Parking Spaces56.0
Operating Expense502666.0
Pool FeaturesCommunity, Fenced
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesCommunity
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories Count1
Subdivision NameTwin Palms (33512)
Tax Lot247
Trash Expense40850.0
Water Sewer Expense40850.0
Year Built1965
Year Built SourcePublicRecords
ZoningRTP

Exterior for 495 E Twin Palms Drive

Building Area Total37700.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesCornerLot
Lot Size Acres2.34
Lot Size Area101930.0
Lot Size SourceAssessor
Number of Buildings5
Number of Separate Electric Meters51
Number of Separate Gas Meters1
Number of Separate Water Meters1
Private PoolNo
SpaYes
Total Parking56.0
Water SourcePublic
Waterfront Y/NNo

Additional Details

Price History

Hal Schlegel

Broker Associate
Price $8,999,888
MLS#IV25172556
List Date 07/31/2025
Property Type Multi-Family
Phone 714.742.6515
Request Tour
Request Info
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