495 E Twin Palms Drive Palm Springs, CA ^$ 9,650,000

495 E Twin Palms Drive

^$ 9,650,000

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495 E Twin Palms Drive

Palm Springs, CA, 92264

^$ 9,650,000

Studio Baths1.0 Sq 37,700

Monthly Estimate*

^$ 60,203

Listed by LE INVESTMENT GROUP

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Studio

Multi-Family Home for sale in Palm Springs, CA

for $9,650,000 with 1 full bath. This 37,700 square foot home was built in 1965 on a lot size of 2.34.

The Twin Palms Apartments lot totals at 2.34 acres and consisting of 5 buildings and multiple parking lots. The property is located at 495 E Twin Palms Drive, Palm Springs, CA, and is conveniently located a short distance from the Downtown Palm Springs, the Historic Tennis Club, the Palm Springs Art Museum, the Palm Springs International Airport & many major regional employers. This 51-unit apartment community is composed of (42) One bedroom / One-bathroom units and (9) Two bedroom / One-bathroom units. The current ownership’s emphasis has been on quality updates which include capital improvements exceeding $250,000 within the last year. Some of these improvements include floor replacement, window replacement, HVAC replacement, rehab expenses, landscaping expenses, plumbing replacement, and numerous other quality updates.

Multi-Family Active

Price

^$ 9,650,000

Bedrooms

Studio

Full Bath

Property Type

Multi-Family

Taxes

^$ 0

Style

Lot Size

2.34

Year Built

1965

Town/City

Palm Springs

County/Region

Riverside

MLS | Web ID

IV23199341

Days on Market

776

Features

General

Sewer Public Sewer

Cooling Central Air

Zoning RTP

Garage Spaces 0

Pool Features Community Fenced

Year Built 1965

Tenant Pays Electricity Gas

Stories Count 1

Levels One

Property Subtype Apartment

Gross Income 931788

Community Features Sidewalks Pool

County Riverside

Net Operating Income 579112

Operating Expense 461522

Insurance Expense 25500

New Construction 0

Property Type Residential Income

MaintenanceExpense 31219

Subdivision Name The Mesa (33463)

Garage Y/N 0

Special Listing Conditions Standard

Status Active

Directions South on Palm Canyon Drive East on Twin Palms Dr

City Palm Springs

Land Lease Amount 3335

Entry Location 1

Senior Community Y/N 0

Open Parking Spaces 56

Number Of Units Total 51

MLS Area 334 - South End Palm Springs

Lot Size Units Acres

Lot Size Square Feet 101930.4

Listing Terms Conventional

Spa Features Community

Property Attached Y/N 1

Land Lease Y/N 1

Electric Expense 124486

Fuel Expense 15514

Trash Expense 14400

Water Sewer Expense 9000

Additional Parcels Y/N 0

Rent Control Y/N 1

Building Area Units Square Feet

Standard Status Active

Year Built Source Public Records

Tax Lot 247

Property Sub Type Additional Apartment

Taxes 121590

Cap Rate 6

Land Lease Amount Frequency Monthly

Interior

Total Stories 1

Common Walls 2+ Common Walls No One Above

Air Conditioning Y/N 1

Laundry Features Common Area

Entry Level 1

Exterior

Parking Features Assigned Asphalt

Lot Features Corner Lot

Water Source Public

Total Parking 56

Lot Size Area 2.34

Number of Buildings 5

Spa 1

Building Area Total 37700

Lot Size Acres 2.34

Private Pool 0

Lot Size Source Assessor

Pool Charge 7200

Number of Separate Water Meters 1

Number of Separate Gas Meters 1

Number of Separate Electric Meters 51

* Excluded Features

List By

Le Investment Group

Broker

darren.correa@leinvestmentgroup.com

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$60,203

Per Month

Monthly Principal & Interest: $60,203
Monthly Property Taxes: --
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Palm Springs, CA

Average List Price ^$2,485,395

Percent of Sale Price 74%

About Palm Springs, CA

46,525 Population

9% Since 2002

^$49,313 Median Income

54.63 Median Age

11% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

4827338 Elementary School

4827337 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
11/20/2025	$9,650,000		Listed Price

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495 E Twin Palms Drive, Palm Springs, CA, 92264 is a Multi-Family Home for sale at $9,650,000 with 37,700 sqft and a lot size of 2.34. 495 E Twin Palms Drive is a studio with 1.0 baths and was built in 1965. The property's zip code is 92264 which is in Palm Springs, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the California Regional Multiple Listing Service, Inc..

Based on information from California Regional Multiple Listing Service, Inc. as of 12/9/2025. 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. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. 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.

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495 E Twin Palms Drive

Multi-Family Home for sale in Palm Springs, CA

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