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- 509 Highland Drive, Palm Springs, CA 92264
- MLS#: OC25155892 ( Apartment )
- Street Address: 509 Highland Drive
- Viewed: 3
- Price: $3,950,000
- Price sqft: $0
- Waterfront: No
- Year Built: 1962
- Bldg sqft: 0
- Days On Market: 8
- Additional Information
- County: RIVERSIDE
- City: Palm Springs
- Zipcode: 92264
- Subdivision: Demuth Park (33443)
- Provided by: Marcus & Millichap RE Invest
- Contact: Tyler Tyler
- DMCA Notice
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Description509 & 561 South Highland Drive is a 2 property, 21 unit multifamily investment portfolio located in Palm Springs, CA. 509 & 561 South Highland is available in conjunction with 579 South Highland Drive, a 10 unit multifamily property. 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 Drives 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.
Property Location and Similar Properties
All
Similar
Features
Additional Parcels Description
- 680032009
Building Area Total
- 18304.00
Commoninterest
- Community Apartment
Common Walls
- No Common Walls
Country
- US
Electric Expense
- 6270.00
Entry Location
- First level
Fuel Expense
- 6270.00
Garage Spaces
- 0.00
Heating
- None
Insurance Expense
- 21000.00
Laundry Features
- Community
Levels
- One
Lot Features
- Level with Street
Netoperatingincome
- 203332.00
Newtaxesexpense
- 48032.00
Number Of Separate Electric Meters
- 21
Number Of Separate Gas Meters
- 21
Otherincome1
- 1988.00
Parcel Number
- 680032008
Pool Features
- Community
Postalcodeplus4
- 1055
Professionalmanagementexpense
- 14274.00
Property Type
- Apartment
Sewer
- Public Sewer
Sourcesystemid
- CRM
Sourcesystemkey
- 442824843:CRM
Subdivision Name Other
- Demuth Park (33443)
Totalexpenses
- 153511.00
Trash Expense
- 6270.00
Uncovered Spaces
- 26.00
Vacancyallowance
- 18677
Water Sewer Expense
- 6273.00
Water Source
- Public
Year Built
- 1962
Year Built Source
- Assessor
Zoning
- R1C

Based on information from California Regional Multiple Listing Service, Inc. as of Jul 19, 2025. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
Display of MLS data is usually deemed reliable but is NOT guaranteed accurate.
Datafeed Last updated on July 19, 2025 @ 12:00 am
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