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
August 9, 2016
Listed
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
Buyer Agency Compensation
1.5%
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.
©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.
Data last updated on 3/18/2024 at 4:43 PM UTC