495 E Twin Palms Dr · Palm Springs, CA 92264

$7,500,000

3111 bd · 2601.0 ba · 37,700 sqft · MultiFamily · 322 Days on market

Built 1965 2.34 ac lot

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.7/30.0
• DSCR +9.8/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 51 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

The Twin Palms Villas 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 (41) One bedroom / One bathroom units and (10) Two bedroom /One bathroom units. The current ownership’s emphasis has been on quality updates which include capital improvements exceeding $300,000 within the last year. Some of these improvements include parking lot re-done, floor replacement, window replacement, HVAC replacement, rehab expenses, landscaping expenses, plumbing replacement, and numerous other quality updates

Key facts

• 5 buildings
• Capital improvements
• Historic tennis club

Tags

• 2.34 ACRES
• 5 BUILDINGS
• MULTIPLE PARKING LOTS
• HISTORIC TENNIS CLUB
• PALM SPRINGS ART MUSEUM
• CAPITAL IMPROVEMENTS

What this means for you Summary

Snapshot

• This is a 41×1bd/1ba + 10×2bd/1ba units multifamily listed at $7.50M.

Deal economics

• At list price, monthly cash flow is $23k ($273k/yr) — positive. Per door: $446/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($95k rent vs $7.50M).
• Recommended offer: $6.60M (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 2.7% in Palm Springs — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#348 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+; Watch: schools C-, crime F, cost of living F.
• Palm Springs Unified (suburban): math 21% / reading 42% proficiency, ranked #328 of 517 in CA (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-0.4%/yr); 492 active listings in the ZIP; solid renter incomes; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• At $95,091/mo this rent would consume 1469% of the median local household income ($78k/yr) (locally 1215% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $52k of loan paydown is wiped out by about $225k of value loss. Plan a longer hold.
• Riverside County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 322 days — a 12% lower offer ($6.60M) is reasonable based on typical stale-listing flexibility.
• 26 sale attempts since 22y ago; this cycle's ask has dropped $1.50M (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 9→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $6,600,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 322 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.27% ✓
• Cap rate: 9.93%
• Cash-on-cash: 12.98%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -0.6%
• Equity multiple: 0.98×
• Total profit: $-44,936
• Equity at exit: $1,118,274

10-year hold

• IRR: 5.6%
• Equity multiple: 1.36×
• Total profit: $754,749
• Equity at exit: $648,463

Cash invested: $2,100,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 92264

• Rents YoY: -0.4%
• Active inventory: 492
• Price-to-rent: 339.5×

Monthly cashflow live

• Estimated rent: $95,091 high
• Mortgage (P&I): −$39,331
• Tax from tax record: −$9,942 /mo · $119,310/yr
• Insurance: −$3,125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$19,969
• Net cashflow: $22,724

Break-even live

Break-even rent $66,327

Max offer price $7,500,000

Occupancy floor 71%

51-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 41× units	1	1	$75,481
▸ 10× units	2	1	$19,610
Total (51 units)			$95,091

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $1,875,000
• Closing costs: $225,000
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $7,500,000 Active 322 DOM
2. 2026-06-17
   days on market $7,500,000 Active 321 DOM
3. 2026-06-16
   days on market $7,500,000 Active 320 DOM
4. 2026-06-15
   days on market $7,500,000 Active 319 DOM
5. 2026-06-13
   days on market $7,500,000 Active 317 DOM
6. 2026-06-13
   days on market $7,500,000 Active 316 DOM
7. 2026-06-09
   days on market $7,500,000 Active 313 DOM
8. 2026-06-08
   days on market $7,500,000 Active 312 DOM
9. 2026-06-07
   days on market $7,500,000 Active 311 DOM
10. 2026-06-04
    days on market $7,500,000 Active 308 DOM
11. 2026-06-03
    days on market $7,500,000 Active 307 DOM
12. 2026-06-02
    days on market $7,500,000 Active 306 DOM
13. 2026-06-01
    days on market $7,500,000 Active 305 DOM
14. 2026-05-31
    days on market $7,500,000 Active 304 DOM
15. 2026-04-28
    price $7,500,000 861-char remark

    Show marketing remark (861 chars)

    The Twin Palms Villas 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 (41) One bedroom / One bathroom units and (10) Two bedroom /One bathroom units. The current ownership’s emphasis has been on quality updates which include capital improvements exceeding $300,000 within the last year. Some of these improvements include parking lot re-done, floor replacement, window replacement, HVAC replacement, rehab expenses, landscaping expenses, plumbing replacement, and numerous other quality updates

16. 2025-09-06
    price $7,999,888 861-char remark

    Show marketing remark (861 chars)

    The Twin Palms Villas 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 (41) One bedroom / One bathroom units and (10) Two bedroom /One bathroom units. The current ownership’s emphasis has been on quality updates which include capital improvements exceeding $300,000 within the last year. Some of these improvements include parking lot re-done, floor replacement, window replacement, HVAC replacement, rehab expenses, landscaping expenses, plumbing replacement, and numerous other quality updates

17. 2025-07-31
    listed $8,999,888 Active 861-char remark

    Show marketing remark (861 chars)

    The Twin Palms Villas 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 (41) One bedroom / One bathroom units and (10) Two bedroom /One bathroom units. The current ownership’s emphasis has been on quality updates which include capital improvements exceeding $300,000 within the last year. Some of these improvements include parking lot re-done, floor replacement, window replacement, HVAC replacement, rehab expenses, landscaping expenses, plumbing replacement, and numerous other quality updates

18. 2024-03-02
    historical
19. 2024-02-27
    status Active
20. 2024-02-15
    status Active
21. 2024-02-15
    price $9,650,000
22. 2024-02-13
    status Active
23. 2023-10-25
    listed $10,900,888 Active
24. 2019-09-18
    historical
25. 2019-09-18
    historical
26. 2019-09-18
    historical
27. 2019-09-18
    historical
28. 2019-09-18
    historical
29. 2013-07-01
    historical Expired
30. 2013-06-30
    historical
31. 2013-06-30
    historical
32. 2012-07-17
    price
33. 2011-12-30
    listed Active
34. 2011-12-30
    listed $4,950,000
35. 2011-12-30
    listed $4,950,000
36. 2011-12-30
    listed
37. 2009-06-01
    historical
38. 2009-06-01
    historical
39. 2009-05-31
    historical
40. 2008-11-19
    listed
41. 2008-11-18
    listed $5,500,000
42. 2008-11-18
    listed
43. 2008-11-18
    listed $5,500,000
44. 2007-11-16
    historical
45. 2007-05-16
    listed $6,500,000
46. 2006-10-18
    historical
47. 2006-10-17
    historical
48. 2006-10-17
    historical
49. 2005-11-04
    listed $6,500,000
50. 2005-11-04
    listed

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $119,310 · $9,942/mo
• Projected year-2 tax: $119,310 · $9,942/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 9 d/yr ≥110°F today · 27 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $1,141,092
• − Mortgage interest: −$420,117
• − Property taxes: −$119,310
• − Insurance: −$37,500
• − Repairs & maintenance: −$91,287
• − Management: −$91,287
• − Depreciation: −$218,182
• Taxable income: $163,409
• Est. tax owed @ 24.0%: −$39,218
• After-tax cash flow: $233,465/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Palm Springs Unified
• NCES district ID: 0629550
• Math proficiency: 21% ▼ -7.00%
• Reading proficiency: 42% ▬ 0.00%
• Median HH income: $43,638
• Composite: 26.76/100
• National rank: #7131
• State rank: #328 of 517 in CA

Livability — Palm Springs

• Score: 66/100
• State rank: #348
• US rank: #11850

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment C Housing B- Health & safety F User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palm Springs, CA
• County: Riverside County · 2,287,001 people
• City population: 46,786
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 19,899
• Household income: $77,688
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1215.0

Population outlook (Riverside County) Hauer SSP2

• Today (2025): 2,664,475 people
• By 2030: 2,802,692 · +5.2%
• By 2040: 3,050,904 · +14.5%
• By 2050: 3,256,783 · +22.2%
• By 2075: 3,655,058 · +37.2%
• By 2100: 3,766,594 · +41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 20% Two or more races 12% Asian 6% Black 2% Native American 1%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Lithuanian 4% Romanian 3% Slovak 3%
• Foreign-born: 16% · Canada, China, South Korea
• Languages at home: 81% English-only · Spanish 13% Tagalog/Filipino 2% Other Asian/Pacific 1%

Political lean MEDSL · Riverside

• 2024 margin: Toss-up / Even · D 48.0% · R 49.3% · Other 2.6%
• 2008→2024 swing: -3.6pp toward R · 2008: 2.3pp · 2024: -1.3pp
• All cycles: 2024: R+1.3 2020: D+8.0 2016: D+4.3 2012: R+0.4 2008: D+2.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -489.04%
• Current HPI: 357.0969
• Rent YoY: ▼ -0.43%
• Metro: Riverside-San Bernardino-Ontario, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+36.4% since first listed

52 events — show timeline

• 2026-04-28 Price Changed $7,500,000 CRMLS
• 2025-09-06 Price Changed $7,999,888 CRMLS
• 2025-07-31 Listed $8,999,888 CRMLS
• 2024-03-02 Listing Removed — CRMLS
• 2024-02-27 Relisted — CRMLS
• 2024-02-15 Relisted — CRMLS
• 2024-02-15 Price Changed $9,650,000 CRMLS
• 2024-02-13 Relisted — CRMLS
• 2023-10-25 Listed $10,900,888 CRMLS
• 2019-09-18 Listing Removed — GPSMLS
• 2019-09-18 Listing Removed — GPSMLS
• 2019-09-18 Listing Removed — GPSMLS
• 2019-09-18 Listing Removed — GPSMLS
• 2019-09-18 Listing Removed — GPSMLS
• 2013-07-01 Delisted — PALM
• 2013-06-30 Delisted — PALM
• 2013-06-30 Listing Removed — SDMLS
• 2012-07-17 Price Changed — PALM
• 2011-12-30 Listed — PALM
• 2011-12-30 Listed — PALM
• 2011-12-30 Listed $4,950,000 SDMLS
• 2011-12-30 Listed $4,950,000 GPSMLS
• 2009-06-01 Delisted — PALM
• 2009-06-01 Delisted — PALM
• 2009-05-31 Listing Removed — SDMLS
• 2008-11-19 Listed — PALM
• 2008-11-18 Listed $5,500,000 SDMLS
• 2008-11-18 Listed — PALM
• 2008-11-18 Listed $5,500,000 GPSMLS
• 2007-11-16 Listing Removed — GPSMLS
• 2007-05-16 Listed $6,500,000 GPSMLS
• 2006-10-18 Delisted — PALM
• 2006-10-17 Delisted — PALM
• 2006-10-17 Listing Removed — SDMLS
• 2005-11-04 Listed — PALM
• 2005-11-04 Listed $6,500,000 SDMLS
• 2005-11-04 Listed — PALM
• 2005-11-04 Listed $6,500,000 GPSMLS
• 2005-08-01 Delisted — PALM
• 2005-07-31 Delisted — PALM
• 2005-07-31 Listing Removed — SDMLS
• 2005-01-21 Listed — PALM
• 2005-01-21 Listed $6,500,000 SDMLS
• 2005-01-21 Listed — PALM
• 2005-01-21 Listed $6,500,000 GPSMLS
• 2005-01-01 Delisted — PALM
• 2004-12-31 Delisted — PALM
• 2004-12-31 Listing Removed — SDMLS
• 2004-01-06 Listed — PALM
• 2004-01-06 Listed $5,500,000 SDMLS
• 2004-01-06 Listed — PALM
• 2004-01-06 Listed $5,500,000 GPSMLS

Property tax history

+9.8%/yr

Latest (2025): $119,310 · -2.4% YoY. Source: county tax records.