Seller's Agent in 2023
Eric Chen
CB RICHARD ELLIS
(909) 418-2030
1 in this area
63 Total Sales
803 N Palm Canyon Dr Palm Springs, CA 92262
Old Las Palmas NeighborhoodEstimated Value: $7,234,966
4
Beds
5
Baths
20,933
Sq Ft
$346/Sq Ft
Est. Value
Highlights
- In Ground Pool
- No HOA
- No Heating
- Palm Springs High School Rated A-
- Laundry Room
About This Home
As of October 2023803 North Palm Canyon Drive is located at the intersection of N Palm Canyon Drive and Tamarisk Road within the desirable North Palm Canyon Uptown District. It is surrounded by shopping venues, trendy restaurants & coffee shops, entertainment, schools, and medical facilities.
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.
803 North Palm Canyon Drive consists of 11, two-bedroom/two-bathroom and 1, two-bedroom/two-and-one-half-bathroom townhouse-style units, with an average unit size of 1,457 square feet. The units offer exquisite interior finishes, with all but one unit offering a loft. There is covered parking and storage on the first level, and a beautiful pool deck and townhouse access on the second level. There is also a ±3,453 square foot ground floor retail space, which is occupied. The property is situated on one parcel with a total of ±24,394 square feet of land, with a total building size of ±20,933 square feet.
803 North Palm Canyon Drive features sleek architecture; desert landscaping; covered parking on the ground floor including 12 individual garages; luxurious pool deck on the second floor with shaded cabanas; and an elevator serving the second floor. Unit amenities include high-end Euro-style cabinetry; built-in subzero refrigerators; stainless steel oven/stove combinations with stainless steel range; engineered stone countertops; tile back splash in kitchens; sleek fireplace; 20-foot ceilings in living space with floor to ceiling windows; lofts in all but one unit; patio and balcony in every unit; dual vanities and custom tiled shower in primary bathroom; on demand water heaters; in unit washer and dryers, and central air conditioning and heating.
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.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $94,715
Year Built
- Built in 2007
Lot Details
- 0.56 Acre Lot
- Two or More Common Walls
- Density is 11-15 Units/Acre
Parking
- 12 Parking Spaces
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 20,933 Sq Ft Home
- 3-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 4 Bedrooms
- 5 Bathrooms
Additional Features
- In Ground Pool
- No Heating
Listing and Financial Details
- Tax Lot 1
- Tax Tract Number 34214
- Assessor Parcel Number 505283024
- $5,522 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 3 Buildings
- 12 Units
- Central Palm Springs Subdivision
Recreation
- Community Pool
Building Details
- 12 Separate Electric Meters
- 12 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $18,600
- Insurance Expense $13,000
- Maintenance Expense $23,851
- Other Expense $2,600
- Professional Management Expense $19,080
- Supplies Expense $10,640
- Trash Expense $1,185
- Water Sewer Expense $7,641
- New Taxes Expense $102,912
- Operating Expense $214,909
- Gross Income $502,116
- Net Operating Income $262,101
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Aug 23, 2023
Closed on
Oct 30, 2023
Sold by
803 N Palm Canyon Holdings Llc
Bought by
New Dawn Enterprises Llc
Seller's Agent
Eric Chen
CB RICHARD ELLIS
Buyer's Agent
NoEmail NoEmail
NONMEMBER MRML
List Price
$7,550,000
Sold Price
$7,300,000
Premium/Discount to List
-$250,000
-3.31%
Views
60
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$65,034
Avg. Annual Appreciation
-0.46%
Purchase Details
Closed on
Jan 28, 2016
Sold by
Magbond Llc
Bought by
803 N Palm Canyon Holdings Llc
Purchase Details
Closed on
Nov 12, 2015
Sold by
803 N Palm Canyon Llc
Bought by
Magbond Llc
Purchase Details
Closed on
Feb 28, 2006
Sold by
Desert Design Builders Inc
Bought by
803 N Palm Canyon Llc
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| New Dawn Enterprises Llc | $7,300,000 | Ticor Title Company | |
| 803 N Palm Canyon Holdings Llc | $5,277,000 | First American Title Company | |
| Magbond Llc | $8,721,619 | None Available | |
| 803 N Palm Canyon Llc | -- | Commonwealth Land Title Co |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/31/2023 10/31/23 | Sold | $7,300,000 | -3.3% | $349 / Sq Ft |
| 10/11/2023 10/11/23 | Pending | -- | -- | -- |
| 08/23/2023 08/23/23 | For Sale | $7,550,000 | -- | $361 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
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 | $94,715 | $7,446,000 | $1,173,000 | $6,273,000 |
| 2023 | $94,715 | $6,004,104 | $1,137,827 | $4,866,277 |
| 2022 | $81,537 | $5,886,377 | $1,115,517 | $4,770,860 |
| 2021 | $79,462 | $5,770,959 | $1,093,645 | $4,677,314 |
| 2020 | $75,845 | $5,711,786 | $1,082,432 | $4,629,354 |
| 2019 | $74,482 | $5,599,791 | $1,061,208 | $4,538,583 |
| 2018 | $73,018 | $5,489,992 | $1,040,400 | $4,449,592 |
| 2017 | $71,821 | $5,382,346 | $1,020,000 | $4,362,346 |
| 2016 | $77,867 | $5,937,935 | $934,569 | $5,003,366 |
| 2015 | $74,725 | $5,821,506 | $916,245 | $4,905,261 |
| 2014 | $74,136 | $5,707,473 | $898,298 | $4,809,175 |
Source: Public Records
Agents Affiliated with this Home
-
Eric Chen
-
NoEmail NoEmail
N
Buyer's Agent in 2023
NoEmail NoEmail
NONMEMBER MRML
(646) 541-2551
5,978 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV23157440
APN: 505-283-024
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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