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1680 E Palm Canyon

Palm Springs, CA 92264
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Bed 0

Bed

Bath 0

Bath

SqFt20,296

Sqft

SqFt40,946

Sqft(Lot)

We are proud to present an exceptional opportunity to acquire Deepwell Apartments, a superbly maintained 30+1 unit multifamily community located at 1680 E Palm Canyon Drive in Palm Springs, CA. This investment offers an attractive 6.59% current Cap Rate and a 6.07% Cash-on-Cash return, with the property yielding $705,600 annually. The ±20,296 SF building stands on a generous ±40,946 SF lot in the prestigious Deepwell Estates, a neighborhood celebrated for its historic mid-century modern architecture and high-end residential appeal. The asset features a diverse unit mix of studios, 1B/1B, 2B/1B, and a premier 3B/2B unit, perfectly catering to the desert’s sophisticated renter demographic. The asset has undergone substantial recent renovations, positioning it as a “turn-key” luxury inves tment with a sophisticated aesthetic. All units feature high-end finishes, including woodgrain-look ceramic tile flooring, designer tile in kitchens and bathrooms, and stainless steel appliances. Ownership has taken a proactive approach to capital preservation, recently replacing air conditioning units and upgrading the gated exterior to ensure tenant privacy and security. These comprehensive interior and exterior improvements significantly reduce near-term CAPEX requirements, allowing a new owner to focus on yield-driven operations. Furthermore, the property offers a curated “resort-style” living experience characterized by a crystal-clear pool, contemporary desert landscaping, and unobstructed mountain views. Deepwell Apartments is strategically positioned in a submarket showing robust signs of population and rental growth. Located along the historic Palm Canyon Drive corridor, the property offers an enviable “walk score” with proximity to the Smoke Tree Shopping Center, world-class hiking trails, and the high-end boutiques and restaurants of downtown Palm Springs. With immediate access to State Route 111, the property provides seamless connectivity to the broader Coachella Valley’s primary tourism and employment hubs. Deepwell Apartments is an excellent income-producing asset in the Inland Empire and a long-term investment opportunity. All units have been remodeled with resort-like amenities, making this a perfect asset for any investor seeking a strong risk-adjusted return. The property offers unparalleled stability for any type of investor, whether it be a first-time purchaser, a seasoned institutional investor, or those seeking a high-quality 1031 Exchange asset.

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $5,995,000

AD Id : 76717888

MLS Id : CV26071280

Lot Size : 40,946 Sqft

Living Area Size : 20,296

Year Built : 1959

County : Riverside

Subdivision: Country Club Estates

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Feature Features

  • Heating & Cooling

    Has Heating: Yes Heating: Wall Furnace Has Cooling: Yes Cooling: Wall/Window Unit(s)

  • Building Information

    Year Built: 1959
    Building Area Total: 20296
    Stories: 2
    Pool Features: Community, In Ground
    Private Pool: No

  • Lot Information

    Main Square Feet: 40946 Lot Size Acres: 0.94 Lot Size Source: Assessor Lot Size Square Feet: 40,946 Lot Description: Lot Over 40000 Sqft

    Property Information

    Subdivision: Deepwell Apartments Source Property Type: Residential Income Property SubType: Apartment Levels: Two Property Age: 67

  • Listing Price Information

    Listing Price: $5995000
    Cash, Cash to New Loan

  • Tax Information

    Parcel Number: 508455010 Tax Lot: 43

  • Parking Information

    Parking Total: 29

  • Location Information

    Direction: Merge onto I-10 E, Use the right 2 lanes to take exit 111 for CA-111 S toward Palm Springs, Turn left onto W Vista Chino, Turn right onto N Sunrise Way, Turn right onto E Palm Canyon Dr WaterSource: Public
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
1914 Marguerite Street, Palm Springs, CA, 92264 $750,000 3 2 1,550 1,550 SqFt
1941 Marguerite Street, Palm Springs, CA, 92264 $799,000 4 2 1,750 1,750 SqFt
1967 Marguerite Street, Palm Springs, CA, 92264 $749,000 4 2 1,750 1,750 SqFt
145 Calle Arriba, Palm Springs, CA, 92264 $183,000 2 1 1,392 1,392 SqFt
145 Sage Drive, Palm Springs, CA, 92264 $260,000 2 2 1,440 1,440 SqFt
5191 E Lakeside Dr, Palm Springs, CA, 92264 $1,780,000 3 3 2,292 2,292 SqFt
2063 S Broadmoor Drive, Palm Springs, CA, 92264 $1,494,000 4 3 2,336 2,336 SqFt
4318 E Mesquite Avenue, Palm Springs, CA, 92264 $900,000 3 2 1,850 1,850 SqFt
4140 E Calle San Antonio, Palm Springs, CA, 92264 $570,000 3 2 1,807 1,807 SqFt
4011 E Camino San Simeon, Palm Springs, CA, 92264 $799,000 3 3 2,106 2,106 SqFt

The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 08/07/2026 @ 06:33

MLS: CV26071280 LISTED BY: Eric Chen, CB RICHARD ELLIS 909-418-2000 SOURCE: CRMLS

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