1433 1455 N Indian Canyon Drive
Palm Springs
92262
$3,500,000
Residential Income
built: 1936
- Status:
- Active
- Prop. Type:
- Residential Income
- MLS® Num:
- PW26156366
- Year Built:
- 1936
- Photos (16)
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We are pleased to present Sunset Palms Apartments, a well-maintained 24-unit apartment community located in Palm Springs, CA. The property offers an attractive unit mix consisting of spacious studios, one-bedroom, and two-bedroom units across three side-by-side individual parcels. Most units have been extensively upgraded with wood-look porcelain tile flooring, upgraded kitchens and bathrooms, stainless steel sinks, and new dual pane windows and sliding glass doors. Community amenities feature two sparkling swimming pools within gated courtyards, new ductless mini split air heating and air conditioning systems, and ample open parking. Sunset Palms offers an exceptional value-add investment opportunity with approximately 28% upside in rental income. The property is currently generating a 5.5% cap rate on in-place rents, with the potential to achieve an 8.2% cap rate as rents are brought to market, providing investors with a clear path to increased cash flow and long-term appreciation.
- Property Sub Type:
- Apartment
- Property Attached:
- Yes
- Lot Area:
- 40,510 sq. ft.
- Bathrooms:
- - (Full:-, Half:-)
- Year built:
- 1936 (Age: 90)
- General Listing Location:
- Palm Springs, 332 - Central Palm Springs
- County Or Parish:
- Riverside
- Common Interest:
- Community Apartment
- Gross Income:
- $344,311
- Gross Scheduled Income:
- $354,960
- Net Operating Income:
- $192,379
- Rent Control:
- No
- Land Lease:
- No
- Electric Expense:
- $0
- Fuel Expense:
- $0
- Insurance Expense:
- $0
- Operating Expense:
- $151,933
- Professional Management Expense:
- $0
- Trash Expense:
- $0
- Water and Sewer Expense:
- $0
- Tax Lot:
- 34
- Driving North on North Indian Canyon Drive, Property Will be on Your Left After Passing East Camino Monte Vista
- Number of Buildings:
- 3
- # of Electric Meters:
- 24
- # of Gas Meters:
- 24
- # of Water Meters:
- 1
- Community Features:
- Sidewalks, Pool
- Senior Community:
- No
- Laundry Features:
- Common Area
- Pool Features:
- Community
- Private Pool:
- No
- Lot Features:
- Rectangular Lot
- Subdivision Name:
- Vista Las Palmas (33273)
- Levels:
- One
- Num Stories:
- 2
- Entry Level:
- 1
- Entry Location:
- 1
- New Constr.:
- No
- Common Walls:
- 2+ Common Walls
- # Units:
- 24
- Heating:
- None
- Water supply:
- Public
- Sewer:
- Public Sewer
- Garage Spaces:
- 0
- Uncovered Spaces:
- 44
- Total Parking Spaces:
- 44
- Special Listing Conditions:
- Standard
- Parcel Number:
- 505184019
- Additional Parcels:
- 505-184-020, 505-184-027
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Listed by Triqor Group
Data was last updated July 18, 2026 at 12:40 AM (UTC)
- WaiKool Homes
- 7606780403
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Based on information from California Regional Multiple Listing Service, Inc. as of July 18, 2026 at 12:40 AM (UTC) and/or other sources.
All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS.
All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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777 E Tahquitz Canyon Way suite 200-207
Palm Springs, CA, 92262