USACAPalm SpringsNot Applicable-1588 E Mel Ave
588 E Mel Aerial | Image 1
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588 E Mel Ave, Palm Springs, CA

Real Estate

For Sale

Listed price in listed location currency (USD).
$3,850,000

0013

MLS® 219139441DA

  • Key Facts
  • Description
  • Map

Key Facts

Type Other
Levels Residential Income
Size -
Garage No
HOA Fees 
Taxes 
Days Active 103
Approx. Age 1964
MLS® Number 219139441DA

Property Address: 588 E Mel Ave, Palm Springs, CA, 92262-4831

Average square foot calculated using Size range provided by listing agent.

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%
MLS® Number219139441DA
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age1964
Stories1
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Dec 2, 2025List Date
$3,850,000List Price
  • Commute

Commute

Starting Address
Destination Address
588 E Mel Ave, Palm Springs, CA

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