NOT LISTED FOR SALE

606 W Arenas Rd Palm Springs, CA 92262

Historic Tennis Club Neighborhood

Estimated Value: $1,555,000 - $1,643,890

5 Beds
5 Baths
3,000 Sq Ft
$540/Sq Ft Est. Value

Last Sold July 08, 2015

Last sale price $817,000 $272 Per Sq Ft

Est. 98% increase in value since last sale

Current estimated payment $9,696/month

5 Days on Market

About This Home

As of July 2015

Prime investment or live-in opportunity! Located in the prestigious Tennis Club neighborhood of downtown Palm Springs, this impeccably maintained Mid-Century modern building features 1-2 bedroom, 2-1 bedroom, & 1 studio units. A sparkling pool, beautiful gardens & amazing mountain views add to the beauty of this golden 4-unit property. Gross Rent of $59,100 and Net Income of $34,531. The spacious 2-bedroom unit has been tastefully renovated with beautiful tile throughout, raised granite counter tops in the kitchen & baths, high-end appliances & wood-burning fireplace in the living room. The other units include two 1 bedrooms each with a remodeled bath & private mountainside patio; & a large studio with eat-in kitchen & restored vintage cabinetry. Each unit has exposed wood, tongue & groove, vaulted ceilings. Tenant perks include free laundry & off-street parking. This gated Mid-Century complex sits below the world famous Frey house & is just a short walk to restaurants & downtown.

Last Agent to Sell the Property

Carl Blea

AC Eagle Corporation License #01877329 Listed on: 04/14/2015

Co-Listed By

Marc Lange

Equity Union License #01407481

Last Buyer's Agent

Shane Wilson

Bennion Deville Homes License #01936618

Bennion Deville Homes

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,772

Year Built

1956

Lot Details

0

Listing Details

  • Cross Street: W. ARENAS AND S. TAHQUITZ DR.
  • Entry Location: Ground Level - no steps
  • Active Date: 2015-04-14
  • Building Size: 3000.0
  • Building Structure Style: Mid Century
  • Driving Directions: From S. Palm Canyon Dr. Turn right (West) on W. Arenas Rd. Property is located on the right side of the road. 2nd to last building on the North side.
  • Full Street Address: 606 W ARENAS RD
  • Lot Location: City
  • Pool Construction: In Ground
  • Pool Descriptions: Association Pool
  • Primary Object Modification Timestamp: 2018-05-04
  • Property Condition: Updated/Remodeled
  • Total Number of Units: 4
  • View Type: Mountain View, Pool View
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 1
  • Year Built: 1956

Interior Features

  • Bedroom Features: All Bedrooms Down
  • Appliances: Range
  • Actual Annual Gross Rent: 59100.00
  • Actual Gross Annual Income: 59100.00
  • Total Actual Rent: 59100.00
  • Additional Land Available: 59100.00
  • Advertising Remarks: Prime investment or live-in opportunity! Located in the prestigious Tennis Club neighborhood of downtown Palm Springs, this impeccably maintained Mid-Century modern building features 1-2 bedroom, 2-1 bedroom, & 1 studio units. A sparkling pool, beautiful
  • Assessed Improvement Value: 418049.00
  • Assessed Land Value: 83609.00
  • Total Bedrooms: 5
  • Builders Tract Code: 5860
  • Builders Tract Name: TENNIS CLUB
  • Building Permit: Yes
  • Construction: Frame and Stucco
  • Expense Electric: 2000.00
  • Expense Gardener: 1800.00
  • Expense Gas: 1485.00
  • Expense Insurance: 1410.00
  • Expense Licenses: 506.00
  • Expense Maintenance: 2560.00
  • Expense Other: 600.00
  • Expense Pest: 600.00
  • Expense Pool: 1440.00
  • Expense Tax: 10613.00
  • Annual Expense: 24569.00
  • Expense Trash: 1038.00
  • Expense Water: 517.00
  • Fireplace: Yes
  • Gross Rent Multiplier: 14.37
  • Levels: One Level
  • Monthly Gross Income: 4925.00
  • Net Operating Income: 34532.00
  • Number Dishwasher: 4
  • Number Disposal: 4
  • Number Electric Meters: 5
  • Number Gas Meters: 1
  • Number Of Buildings: 1
  • Number Patio: 2
  • Number Refrigerator: 4
  • Number Wall A C: 4
  • Number Water Meters: 1
  • Owner Pays: Gardener, Gas, Pool Service, Water
  • Paved: Yes
  • Tenant Pays: Cable TV, Electricity
  • Water Heaters: Yes
  • Fireplace Rooms: Family Room
  • Appliances: Dishwasher, Dryer, Refrigerator, Washer
  • Fireplace Fuel: Wood
  • Floor Material: Ceramic Tile
  • Pool: Yes

Exterior Features

  • View: Yes
  • Lot Size Sq Ft: 7500
  • Common Walls: Attached
  • Construction: Stucco
  • Patio: Concrete Slab

Garage/Parking

  • Other Spaces: 4
  • Carport Spaces: 4
  • Parking Features: Permit/Decal, Uncovered
  • Parking Spaces Total: 4
  • Parking Type: Assigned

Utilities

  • TV Svcs: Cable TV
  • Water Heater: Gas, Hot Water Circulator
  • Cooling Type: Air Conditioning, Central A/C, Wall Unit(s)
  • Heating Type: Forced Air

Condo/Co-op/Association

  • Amenities: Gated Community, Hot Water
  • HOA: No

Lot Info

  • Lot Description: Walk Street

Multi Family

  • Gross Operating Income: 59100.00
  • Total Floors: 1

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Dec 21, 2017
Sold by
Drake Jon
Bought by
Drake Jon
Current Estimated Value
$1,620,223

Purchase Details

Closed on
Apr 22, 2015
Sold by
Jbs Investment Properties Llc
Bought by
Drake Jon

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$612,750
Interest Rate
3.83%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 20, 2011
Sold by
Johansen John Bruce
Bought by
Jbs Investment Properties Llc

Purchase Details

Closed on
Sep 24, 2004
Sold by
Hirsch Richard
Bought by
Johansen John Bruce

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$400,000
Interest Rate
4.52%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 7, 2003
Sold by
Hirsch Richard
Bought by
Hirsch Richard

Purchase Details

Closed on
Jan 14, 2000
Sold by
Albers James L
Bought by
Hirsch Richard

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$191,250
Interest Rate
4.35%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 23, 1997
Sold by
Sloan Robert L and Sloan Carlotta Carlotta
Bought by
Albers James L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$94,500
Interest Rate
7.49%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Drake Jon -- None Available
Drake Jon $817,000 Orange Coast Title Company
Jbs Investment Properties Llc $480,000 Lawyers Title Company
Johansen John Bruce $954,000 First American Title Co
Hirsch Richard -- --
Hirsch Richard $255,000 First American Title Co
Albers James L $135,000 Commonwealth Land Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Jon Drake Living Trust $980,000
Closed Drake Jon $1,363,900
Previous Owner Drake Jon $612,750
Previous Owner K Hovnanian At La Laguna Llc $577,000,000
Previous Owner Johansen John Bruce $402,000
Previous Owner Johansen John Bruce $400,000
Previous Owner Hirsch Richard $191,250
Previous Owner Albers James L $94,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/08/2015 07/08/15 Sold $817,000 -3.8% $272 / Sq Ft
04/19/2015 04/19/15 Pending -- -- --
04/14/2015 04/14/15 For Sale $849,000 -- $283 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $12,772 $967,154 $177,566 $789,588
2023 $12,772 $929,600 $170,672 $758,928
2022 $13,011 $911,374 $167,326 $744,048
2021 $12,766 $893,505 $164,046 $729,459
2020 $12,233 $884,344 $162,364 $721,980
2019 $12,037 $867,005 $159,181 $707,824
2018 $11,828 $850,006 $156,060 $693,946
2017 $11,667 $833,340 $153,000 $680,340
2016 $11,322 $817,000 $150,000 $667,000
2015 $7,299 $511,679 $85,279 $426,400
2014 -- $501,658 $83,609 $418,049
Source: Public Records

Agents Affiliated with this Home

  • C

    Seller's Agent in 2015

    Carl Blea

    AC Eagle Corporation

    Section Image
  • Marc Lange

    Seller Co-Listing Agent in 2015

    Marc Lange

    Equity Union

    (760) 834-5484

    1 in this area

    137 Total Sales

    Marc Lange
    Section Image

  • S

    Buyer's Agent in 2015

    Shane Wilson

    Bennion Deville Homes

    Section Image
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Map

Source: The MLS

MLS Number: 15-895599PS

The MLS

APN: 513-580-060

California Riverside County Palm Springs 92262 Historic Tennis Club

606 W Arenas Rd, Palm Springs, CA

This home is located at 606 W Arenas Rd, Palm Springs, CA 92262 since 14 April 2015 and is currently estimated at $1,620,223, approximately $540 per square foot. This property was built in 1956. 606 W Arenas Rd is a home located in Riverside County with nearby schools including Cahuilla Elementary School, Raymond Cree Middle School, and Palm Springs High School.

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