CA > Palm Springs > Demuth Park
Palm Springs, CA 92264,509 S Highland DR
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Palm Springs, CA 92264,509 S Highland DR
Palm Springs, CA 92264,509 S Highland DR
Palm Springs, CA 92264,509 S Highland DR
Palm Springs, CA 92264,509 S Highland DR
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Sharlyn Nazarian & Paul Phillips

Sharlyn Nazarian & Paul Phillips

+1(323) 523-9366
$ 3,415,000
Est. payment /mo
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509 S Highland DR Palm Springs, CA 92264

3 Beds

3 Baths

18,304 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 18,304 sqft

Price per Sqft $186

Subdivision Demuth Park

MLS Listing ID OC25251506MR

Bedrooms 3

Year Built 1959

Lot Size 0.930 Acres

Acres 1.0

Property Sub-Type Multi-Family

Property Description

509 & 561 South Highland Drive is a 2-property, 21-unit multifamily investment portfolio located in Palm Springs, CA. Situated on two neighboring parcels encompassing a combined 0.93 acres, 509 & 561 South Highland Drive offer a mix of studio, one, and two-bedroom floor plans. The majority of the units feature one bedroom, along with 2, studio units and 3, two-bedroom units - ideally suited for singles, couples, and retirees seeking well-located housing. The properties feature attractive amenities including secure keypad entry, private patios, swimming pools, ample surface parking, and on-site laundry facilities. Additionally, the properties feature exclusively single-story construction, a highly desirable characteristic to prospective renters. Furthermore, 509 & 561 South Highland Drive have recently undergone significant capital improvements including new plumbing, electrical, plaster, and tile as well as updated building systems including roofing, solar panels, and more. 509 & 561 South Highland Drive are situated in an optimal Palm Springs location, just moments away from shops and restaurants at El Cielo Center and The Springs. The properties are within a 0.85-mile radius of Demuth Park and Sunrise Park, two sprawling community centers granting residents convenient access to a plethora of outdoor activities. Additionally, the properties benefit from their close proximity to Palm Springs International Airport, a major employment and economic driver for the area, with tourism being a significant part of the local economy. Furthermore, Ramon Road, situated just to the north of the properties, provides easy access to Downtown Palm Springs, the heart of the city featuring a plethora of unique shops, restaurants, and entertainment options. 509 & 561 South Highland Drive s desirable single-story construction and upgraded facilities are primary draws for potential renters. The overall demand for well-maintained and amenitized rental units will be a key driver in the continued growth and success at the properties.

Location

State CA

County Riverside

Area Palm Springs South End

Interior

Heating None

Laundry Community

Exterior

Garage Spaces 23.0

Community Features Curbs, Gutters, Sidewalks, Street Lights

Building

Story 1

Sewer Public Sewer

Water Public

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Marcus & Millichap RE Invest
Sharlyn Nazarian & Paul Phillips

Sharlyn Nazarian & Paul Phillips

Realtor | License ID: DRE #02251393 DRE#02251387

+1(323) 523-9366

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509 S Highland DR