858-525-5007

588 Mel, Palm Springs CA 92262 | $3,850,000

  • 0 bedrooms
  • 0 bathrooms
  • 0 Sq Ft
  • 22651 Lot Sq Ft
  • Type:
  • Stories: 1
  • Year Built: 1964
  • MLS#: 219139441DA
  • Community: 332 - Central Palm Springs

Listing provided courtesy of Heath Wilson of Wilson-Meade Commercial Real Estate. Last updated 2026-02-18 09:11:20.000000. Listing information © 2025 SANDICOR.

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%

More Details

0.52 Acres
1 Story

David Piper​

Call or Text: 858-525-5007

DRE# 02021985