351 E Cottonwood Road, Palm Springs, CA 92262 (MLS# 219050894)

351 E Cottonwood Road, Palm Springs, CA 92262

$915,000
Property Type: Residential Income Bedrooms: 6 Baths: 5 Square Footage: 3,300 Lot Size (sq. ft.): 10,890 Status: Closed
Current Price: $915,000 List Date: 10/06/2020 Last Modified: 5/12/2026

Overview

Description

Known as the Acacia Inn, this storied property has the feel of old Hollywood. Gated and well maintained 4 unit plus detached main house is an investor's dream. Impressive Gross Rent Multiplier and CAP rate! Live on site in the main house and keep rental income on the occupied units.

Listing Details MLS# 219050894

General Property Information

Total Units
5
Total Bedrooms
6
Full Baths
5
Total Baths
5
Approx SqFt
3300
SqFt Source
Other
Price Per Unit
269.4
Fireplace
Yes
Building # of Stories
Yes
Total Fireplaces
Yes
Pool
Yes
Paved
Yes
Lot Acres
0.25
Lot Size Source
Appraiser
Year Built
1947
Cross Streets
Via Miraleste

Property Features

Owner Pays: Electricity; Gardener; Gas; Pool Service; Trash Collection; Water Sale Type: Standard Listing Terms: Cash; Owner May Carry Possession: Close Of Escrow View Type: Mountain(s) Disclosures: None Levels: Ground Flooring: Ceramic Tile; Spanish Tile Cooling Type: Air Conditioning; Ceiling Fan(s); Wall/Window Unit(s) Pool Location: Community Pool Accessories: Unknown Pool Construction: Gunite; In Ground Pool Description: Community; Gunite Heating: Central; None; Other Fireplace Location: Family Room Fireplace Features: Gas & Wood Rooms: Other Laundry: In Closet Security Safety: Gated Community Sewer: In, Connected and Paid Parking: Side By Side; Unassigned Land Lease Type: Fee Simple

Listing Location and Property Info

APN
507023001
Original List Price
889000
Property Sub-Type
Apartment
Street #
351
Street Direction
E
Street Name
Cottonwood
Street Suffix
Road
County
Riverside
State
CA
Zip Code
92262
Area
332 - Palm Springs Central
Country
US

Listing Info

Number of Buildings
2
Water Heater
Yes
Laundry
Yes
Laundry Equipment
Own

Tax Info

Tax Mello Roos
Unknown

Property Info

Senior Community
No
Gated Community
Yes
View
Yes

More Information

Status Change Info

Status Change Date
2020-11-23
Pending Date
2020-10-14
Closed Date
2020-11-23
Closed Price
915000

Counts

# Electric Meters
3
# Gas Meter
2
# Water Meters
Yes

Parking SpacesInformation

Total Parking Spaces
6

Association Information

Mgmt Company Email
michael@vpmrents.com

Unit Information

Number of Units Leased
4

Listing, Location and Property Info

Entry Date
2020-10-06
Land Type
Fee

Income & Expenses

Actual Total Rent $
4750
Annual Gross Rent $
82200
Projected Rent $
6850
Electricity $
9533.35
Gardener $
2230
Gas $
1138.12
Licenses $
410.89
Pest Control $
575
Pool Expense $
1680
Professional Management $
3963.75
Total Annual Operating Expenses $
22462.57
Trash $
1567.34
Cap Rate %
7

Owner Pays

Electricity
Yes
Gardener
Yes
Gas
Yes
Pool Service
Yes
Trash Collection
Yes
Water
Yes

Sale Type

Standard
Yes

Listing Terms

Cash
Yes
Owner May Carry
Yes

Possession

Close Of Escrow
Yes

Parking Spaces/Information

Total Covered Spaces
0
Total Uncovered/Assigned Spaces
6

View Type

Mountain(s)
Yes

Disclosures

None
Yes

Levels

Ground
Yes

Flooring

Ceramic Tile
Yes
Spanish Tile
Yes

Cooling Type

Air Conditioning
Yes
Ceiling Fan(s)
Yes
Wall/Window Unit(s)
Yes

Pool Location

Community
Yes

Pool Accessories

Unknown
Yes

Pool Construction

Gunite
Yes
In Ground
Yes

Pool Description

Community
Yes
Gunite
Yes

Heating

Central
Yes
None
Yes
Other
Yes

Fireplace Location

Family Room
Yes

Fireplace Features

Gas & Wood
Yes

Rooms

Other
Yes

Laundry

In Closet
Yes

Security Safety

Gated Community
Yes

Sewer

In, Connected and Paid
Yes

Parking

Side By Side
Yes
Unassigned
Yes

Land Lease Type

Fee Simple
Yes
Listing Office: VPM Rents, Inc.
Listing Agent: Michael Heath
Last Updated: May - 12 - 2026
Information deemed reliable but not guaranteed.

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