Investment Overview

Marcus & Millichap is pleased to exclusively present the opportunity to acquire 238 South Saturmino Drive, a 7-unit multifamily investment property in the heart of Palm Springs, California. Constructed in 1963, the property is situated on a 13,939 square feet rectangular parcel with a building area of 5,120 square feet. The property consists of six two-bedroom/one-bathroom floor plans and a two-bedroom/two-bathroom floor plan. The front four units offer central air conditioning, private front and back patios, while the other three units offer wall-unit air conditioning and private back patios. Each unit features tile flooring, granite countertops, new bathroom tile and fiberglass, and new kitchen cabinets (in 6 units). All units are individually metered for gas and electricity, and all units have individual hot water heaters. In addition, there are seven open space parking. With a very walkable score of 77, 238 S Saturmino Drive offers a central rental location with convenient access to outdoor recreation, schools, shopping, and dining options. Within two minutes’ walk south of the subject property, Sunrise Park spreads across more than 38 acres of land and features basketball court, baseball fields, picnic tables, grills, playgrounds, swimming pools, a skate park, and plenty of other activities for residents of all ages to enjoy. Neighboring the park are the Palm Springs Public Library to the west and Palm Springs High School to the east. The property is also surrounded by major retail and grocery stores including Ralphs, CVS Pharmacy, Ride Aid Pharmacy, and 99 Cent Only Store. In addition, the city is well-served by Palm Springs International Airport that offers nonstop flights to 31 airports and easy one-stop connections to more than 300 global cities provided by major airlines such as Air Canada, American Airlines, Southwest, and United. The city of Palm Springs is about an hour southeast of Los Angeles. As a sun-filled desert oasis surrounded by mountains, Palm Springs naturally developed as a resort town with tourism as its biggest industry. Popular events and destinations such as the Palm Springs International Film Festival, Palm Springs Festival of Lights Parade, and the city’s very own Convention Center welcome thousands to the area. Furthermore, residents enjoy the great outdoors at the beautiful Mount San Jacinto State Park, the Moorten Botanical Gardens, Palm Springs Aerial Tramway and many more activities.