$5,200,000

12 Individually Parceled Condominiums. 588 E San Lorenzo Road is located in a highly desirable and vibrant neighborhood, one block east of S Palm Canyon Drive. The property is adjacent to Cody Place, a brand-new high-end luxury condominium and retail development, and the Elan Residences, a single family home community development also underway in the rapidly growing area of South Palm Springs. 588 E San Lorenzo Road is a short walk or bike ride to a variety of shopping venues, restaurants, entertainment, schools, and medical facilities near historic Downtown Palm Springs. The property is centrally located within the Coachella Valley and accessed by the CA-111 highway (Palm Canyon Drive). Its location offers convenient access to the neighboring cities of Cathedral City, Palm Desert, Indio, Indian Wells, and La Quinta. Desert attractions such as Joshua Tree National Park, Mt. San Jacinto, Empire Polo Club in Indio (home to Coachella and Stagecoach Music Festivals), and more than 120 golf courses within the Coachella Valley are also easily accessible. San Bernardino County, Orange County, Los Angeles County, mountain ski resorts and beach cities are all within a 2-hour drive. 588 E San Lorenzo Road is a rare, two-story, 12-unit property that was fully renovated down to the studs in 2012. The property is situated on one parcel with a total of ±31,799 square feet of land, with a total building size of ±12,164 square feet. The property features eleven two-bedroom/two-bathroom units and one large three-bedroom/two-bathroom penthouse with and average unit size of 1,014 square feet. 588 E San Lorenzo Road features gated controlled access, ample parking spaces, luxurious pool and spa, peaceful koi pond, private patio/BBQ area, and an open courtyard. Unit amenities include keyless entry, plank and carpet flooring, luxurious kitchens with stainless steel appliances, central air conditioning and heating, and individual patios and/ or balconies. 588 E San Lorenzo Road is a prime Palm Springs income-producing opportunity and a great long-term investment. The property is in a highly desirable area and offers stability for any type of investor, whether it may be a first-time purchaser, seasoned investor, or a 1031 exchange opportunity.