200 E Francis Drive, Palm Springs CA, 92262

Sold

200 E Francis Drive

Palm Springs CA, 92262

$5,500,000

$166.67 per sqft

Sold

33,000 sqft

Residential

Built in 2007

Listed by ALEXANDER GARCIA with MARCUS & MILLICHAP 909-456-3400

The Towers is a high quality 20-unit property located in the heart of Palm Springs, California. Built in 2007 to a very high standard, the property has been impeccably maintained. These steel frame buildings are top tier in build quality, design, and location. Easily rented to tenants looking for an upscale contemporary home. The Towers was originally planned as a high end enclave of condominiums for the local professional and Los Angeles second home buyer market. When the recession hit, the sales program was terminated and the units were rented out. A condo map is, however, filed and there is an operating HOA. The opportunity exists today to launch a condo sales program. In addition to the existing 20 units, this sale also includes an adjacent undeveloped lot measuring 24,896 square feet that can serve as the site for 10 more units. The undeveloped lot is shovel ready and the existing condominium map already includes these additional units. Build out these final 10 units to increase operating income or sell them individually as condos.

CV16183169

MLSⓇ ID

March 18, 2024

Updated

Map

200 E Francis Drive
Palm Springs CA, 92262

Interior Features

Total Stories: 2
Fireplace: No
Cooling: No
Heating: No

Exterior/Building Features

Lot Size: 2.12 Acres
Lot Features: 6-10 Units/Acre

Other Property Details

Area Name: 699 - Not Defined
Days on Market: 65
Garage: No
Parking Total: 0
View: No
County: Riverside
Water Source: Public
Pool: No
Pool Features: Community

Listing Contact: 909-456-3400

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/18/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 3/18/2024 at 4:43 PM UTC