Highland Portfolio

N/AThe Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire the Highland Portfolio, a 3-property, 31-unit multifamily investment portfolio located in Palm Springs, CA. Situated on three neighboring parcels encompassing a combined 1.40 acres, the Highland Portfolio offers a mix of studio, one, and two-bedroom floor plans. The majority of the units feature one bedroom, along with 1, studio unit and 2, two-bedroom units - ideally suited for singles, couples, and retirees seeking well-located housing. The portfolio features 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, the Highland Portfolio has recently undergone significant capital improvements including new plumbing, electrical, plaster, and tile as well as updated building systems including roofing, solar panels, and more. The Highland Portfolio is 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 Highland Portfolio benefits from its 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 Portfolio, provides easy access to Downtown Palm Springs, the heart of the city featuring a plethora of unique shops, restaurants, and entertainment options. The portfolio’s 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 Highland Apartments.