*** 5.75% Cap Rate *** Coast Group is pleased to present 500 West Racquet Club, a meticulously remodeled multifamily property consisting of three separate units with pool, courtyard, outdoor common areas with attractive mature landscaping. Located in a highly desirable area just outside downtown Palm Springs, this property offers a unique opportunity to own a recently remodeled property with various potential uses. Currently owned and operated as a sober living facility, other possible uses include, but are not limited to, a family compound, personal residence, rooming house or short-term rental (subject to Palm Springs approval). 500 West Racquet Club is approximately 3,650 square feet, with the following breakdown: Unit one (1) is a 2-bedroom, 2-bath, Unit two (2) is a 2-bedroom, 1-bath, and Unit three (3) is a 5-bedroom, 2-bath. Unit 3 has been designed and finished as a potential owners suite complete with a butlers pantry, under counter beverage center and a master bedroom complete with a large walk-in closet and ensuite bath. The property underwent a full, down to the studs renovation in 2022 and the owner spared no expense. Custom finishes include: New tile floors and tile kitchen backsplashes New kitchen and bath cabinets and countertops New kitchen and laundry appliances New plumbing, lighting and electrical fixtures New interior and exterior doors and windows New exterior stucco New drywall and paint New attic and wall insulation New sewer line under the building and to the street New Firepit, Barbeque Center and Misting Systems This property offers a lot of stabi*** 5.75% Cap Rate *** Coast Group is pleased to present 500 West Racquet Club, a meticulously remodeled multifamily property consisting of three separate units with pool, courtyard, outdoor common areas with attractive mature landscaping. Located in a highly desirable area just outside downtown Palm Springs, this property offers a unique opportunity to own a recently remodeled property with various potential uses. Currently owned and operated as a sober living facility, other possible uses include, but are not limited to, a family compound, personal residence, rooming house or short-term rental (subject to Palm Springs approval). 500 West Racquet Club is approximately 3,650 square feet, with the following breakdown: Unit one (1) is a 2-bedroom, 2-bath, Unit two (2) is a 2-bedroom, 1-bath, and Unit three (3) is a 5-bedroom, 2-bath. Unit 3 has been designed and finished as a potential owners suite complete with a butlers pantry, under counter beverage center and a master bedroom complete with a large walk-in closet and ensuite bath. The property underwent a full, down to the studs renovation in 2022 and the owner spared no expense. Custom finishes include: New tile floors and tile kitchen backsplashes New kitchen and bath cabinets and countertops New kitchen and laundry appliances New plumbing, lighting and electrical fixtures New interior and exterior doors and windows New exterior stucco New drywall and paint New attic and wall insulation New sewer line under the building and to the street New Firepit, Barbeque Center and Misting Systems This property offers a lot of stability for any family, investor, sober living operator or a 1031 exchange opportunity. Ownership is open to discussing creative partnership or financing solutions, including a sale and lease back, or lease to own contract. Don't miss the opportunity to own this outstanding property with limitless potential!"