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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 : Residential Income

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

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Feature Features

  • Water/Sewer

    Water Source: Public Sewer: Public Sewer
  • Cooling Features

    Wall/Window Unit(s) Air Conditioning

    Heating Source

    Wall Furnace Has Heating

  • Building Information

    Year Built: 1959 Building Area Total: 20,296
  • Pool Features

    Community,In Ground

    Laundry Features

    Common Area

  • Lot Details

    Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.94
  • Lot Size Source: Assessor Lot Size Square Feet: 40946

  • Listing Price Information

    Original List Price: 5,995,000 Listing Contract Date: 2026-04-02
  • Lease Information

    Listing Agreement: Exclusive Right To Sell

  • Tax Information

    Parcel Number: 508455010

  • Other Property Info

    Source Listing Status: Active Source Neighborhood: 332 - Central Palm Springs Directions: 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 Source Property Type: Residential Income Area: 332 - Central Palm Springs Property SubType: Apartment
  • Building and Construction

    Property Age: 67 Common Walls: 2+ Common Walls Structure Type: Apartment Year Built Source: Assessor Entry Level: 1 Entry Location: 1 Property Attached: Yes Levels or Stories: Two Building Total Stories: 2
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Nearby Home Value

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147 Sage Drive, Palm Springs, CA, 92264 $259,000 -- -- --
2030 S Bob O Link Lane, Palm Springs, CA, 92264 $1,195,000 3 2 1,673 1,673 SqFt
2178 S Brentwood Drive, Palm Springs, CA, 92264 $1,535,000 3 4 2,041 2,041 SqFt
4351 E Calle De Carlos, Palm Springs, CA, 92264 $649,900 3 2 1,560 1,560 SqFt
4385 E Paseo Caroleta, Palm Springs, CA, 92264 $875,000 4 2 1,592 1,592 SqFt

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ByOwner last updated this listing 06/11/2026 @ 13:19

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

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