521 Desert Way, Palm Springs, CA, 92264
About This Home
Rare Palm Springs Demuth Park 5-Unit investment and owner -user opportunity . Beautifully renovated property offering immediate rental income, resort style living and exceptional zoning flexibility. This Desert Urban Retreat presents a unique opportunity. . Set on one of the areas most sought after streets, this 5 unit apartment building blends immediate potential income with comfort and sophistication with owner occupied living if you choose. . Located within walking distance to the new College of the Desert and the newly renovated Demuth Park which features a $7.5 million dollar investment that includes 22 new pickleball courts, large and small dog parks and entrance to the new valley wide CV Link. Nearby Prescott Reserve also adds value to the area., Currently you have 3 long term residents that offer dependable cash flow.R2 zoning adds valuable flexibility beyond traditional long term tenants Potential uses may include senior living, recovery retreats, assisted living, multi -generational housing, sober living ..all subjected to Palm Springs City approval. This is a turn key property with seller inventory list . All items outlined here are subjected to buyer verification .
Getting Around
Somewhat Walkable
Some Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1963
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Features
- Flooring: Tile
Heating & Cooling
- Heating features: Forced Air
- Cooling features: Central Air
Property
Details
- Parcel number: 680033011
- Special condition: Standard
Features
- Private pool: Yes
- Pool features: In Ground
- Has spa: Yes
- Spa features: Above Ground,Community
- Has view: Yes
- View description: Mountain(s)
Lot
- Lot size: 10,019 sqft
- Features: Landscaped
Parking
- Total spaces: 8
- Parking features: Other
- Uncovered spaces: 8
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Earthquake
- Inland Flooding
- Heat Wave
- Wildfire
How This Home’s Risks Compare
FEMA Declared Disasters in Riverside County and California
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $6,866 | $82,392 |
| Home Insurance * | $275 | $3,300 |
| Property Taxes | $939 | $11,268 |
| Electricity | $398 | $4,786 |
| Total | $8,478 | $101,736 |
Income You'd Need if You Spent...
California FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-16 | Listed for sale | $1,357,900 |
| 2011-04-18 | Sold | $235,000 |
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