623 S GRENFALL Rd, Palm Springs, CA 92264

Property Description

Rare opportunity to own an architecturally significant property in the desirable Warm Sands community. Currently utilized as a 7 unit apartment complex, each unit is a single story floor plan, surrounded by a central and private pool, private back patios and well maintained grounds. Opportunity to continue its use as an apartment complex, or convert to boutique style short-term rental units similar to many already converted on Grenfall street; The Warm Sands neighborhood is a thriving boutique hotel and short-term rental market with soaring occupancy and increasing nightly rates. A strong long-term rental market with high demand from tenants also provide the future buyer with options to maintain a stabilized income producing asset with low vacancy rate and gradually increasing rents on renewals and turnovers. Tenants love the property and there is a waiting list of tenants always seeking the opportunity to rent at this property.