A rare multifamily offering in one of Palm Springs' most sought-after locations, delivering 13 single-level units across three well-positioned structures. The unit mix is anchored by eleven oversized 2-bedroom, 2-bath residences averaging approximately 1,200 sq ft, complemented by two exceptional premium units spanning roughly 1,700 sq ft each featuring 2 bedrooms, 2 bathrooms, a den, expansive primary suites with oversized walk-in closets, and direct-entry 1-car garages with laundry hookups. Many units open onto a central pool/spa with tremendous mountain views and the rest open onto expansive central lawns. The asset has demonstrated consistent income growth, increasing from $265,440 in 2023 to $301,629 in 2025, with continued upward momentum into 2026. Current operations reflect elevated expenses of approximately 48%, presenting a clear and immediate opportunity to streamline to a more typical 35-40% range. Based on current averaged expenses and 2026 rent actuals the offering presents at an approximate 4.5% cap rate, with additional upside driven by both operational efficiencies and the underutilized premium unit mix. DO NOT ACCESS ANY PORTION OF THE PROPERTY WITHOUT LISTING AGENT PRESENT. DO NOT ENGAGE WITH TENANTS. 22 off-street parking spots and owned laundry facilities.
For sale
$3,895,000
1850 S Camino Real, Palm Springs, CA 92264
26beds
26baths
16,600sqft
:
Get pre-qualified$26,385/mo
Multi Family
Built in 1976
-- sqft lot
$-- Zestimate®
$235/sqft
$-- HOA
What's special
Exceptional premium units
- 123 days |
- 389 |
- 22 |
Zillow last checked:
Listing updated:
Listed by:
James Gault DRE # 01985784 310-621-7765,
Compass 760-350-9253
Source: CLAW,MLS#: 26669731PS
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 26
- Bathrooms: 26
Bedroom
- Level: Lower
Heating
- Central
Cooling
- Central Air
Appliances
- Included: Dishwasher, Refrigerator, Range/Oven, Freezer, Central Water Heater, Gas Water Heater
- Laundry: Laundry Room, Common Area
Features
- Ceiling Fan(s)
- Flooring: Tile
- Doors: Sliding Doors
- Has fireplace: Yes
- Fireplace features: Den, Kitchen, Living Room, Patio
Interior area
- Total structure area: 16,600
- Total interior livable area: 16,600 sqft
Property
Parking
- Total spaces: 22
- Parking features: Open
- Garage spaces: 2
- Has uncovered spaces: Yes
Features
- Levels: One
- Stories: 1
- Entry location: Ground Level - no steps
- Patio & porch: Concrete Slab
- Pool features: Community, Heated And Filtered
- Spa features: In Ground, Heated with Gas
- Has view: Yes
- View description: Pool, Tree Top, Mountain(s)
- Has water view: Yes
- Waterfront features: None
Lot
- Size: 1.22 Acres
- Features: Corners Established, Curbs, Landscaped, Sidewalks, Corner Lot
Details
- Additional structures: None
- Parcel number: 511052008
- Zoning: R2
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Stucco
- Foundation: Slab
- Roof: Clay,Foam
Condition
- Year built: 1976
Utilities & green energy
- Sewer: In Connected and Paid
- Water: District
Community & HOA
HOA
- Amenities included: Pool, Spa/Hot Tub
Location
- Region: Palm Springs
Financial & listing details
- Price per square foot: $235/sqft
- Tax assessed value: $2,604,350
- Date on market: 3/26/2026
- Tenant pays: Electricity, Water, Gas
Estimated market value
Not available
Estimated sales range
Not available
$2,367/mo
Price history
| Date | Event | Price |
|---|---|---|
| 3/26/2026 | Listed for sale | $3,895,000$235/sqft |
Source:  CLAW #26669731PS Report a problem | ||
Public tax history
Tax history is unavailable.
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: Twin Palms
Nearby schools
GreatSchools rating
- 3/10Cahuilla Elementary SchoolGrades: K-5Distance: 0.7 mi
- 5/10Raymond Cree Middle SchoolGrades: 6-8Distance: 3.2 mi
- 5/10Palm Springs High SchoolGrades: 9-12Distance: 1.7 mi
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