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723 E Cottonwood Road, Palm Springs, CA 92262

$1.47M8bd · 4ba · 3,500 sqft
Lot 11,326 sqft•Residential Income•
Active
•13d on market•MLS# 219154632

Property Description

Reimagined Mid-Century Fourplex. A distinctive Palm Springs take on multifamily living, this extensively renovated four-unit property was thoughtfully reimagined in 2021 as a boutique mid-century apartment community, with all four units are occupied by long-term tenants, offering immediate rental income and a compelling opportunity for an investor. The renovation was extensive:stucco was repaired and repainted, while new windows and doors enhance appearances and energy efficiency. Units 2 and 3 received thoughtfully reconfigured kitchens that open to the living spaces, accented by breeze block, integrated workspaces, and custom shelving, with all 4 units getting refreshed. At the heart of the property, the pool courtyard was completely reimagined with expanded lounge space, colorful shade sails, breeze-block accents, and a custom Marilyn Monroe mural all surrounded by grounds transformed into a lush, resort-like setting. The property's infrastructure and common areas have been equally well cared for. The parking area was patched, resurfaced and restriped; a new mailbox cluster reinforces the mid-century aesthetic; and the foam roof was recoated in 2026. Translucent milk-glass entry gates replaced the original see-through metal gates, adding privacy, security and a sophisticated architectural detail. Unit 4 offers an especially compelling owner-user opportunity. The living area was substantially redesigned to capture the pool and courtyard views, with the kitchen relocated to the north wall and two new sliding glass doors creating a stronger indoor-outdoor connection. A new clerestory window brings morning light into the primary bedroom. The private courtyard was opened to the sky, with new patterned concrete paving, colorful shade sails and breeze-block detailing. A separate stackable washer/dryer, outdoor shower with mosaic tile and new tankless water heater complete the upgrades. Unit 1 remains attractively positioned below market, providing an additional value-add opportunity for a future owner or investor. With its combination of Palm Springs architectural character, resort-style outdoor living, extensive capital improvements, long-term tenancy and owner-user potential, this is a rare opportunity to own a small boutique multifamily property that feels more like a private desert retreat than a traditional fourplex. Fee simple (you own the land).

Features & Amenities

El MiradorFeeBuilt 1977

Property Details

Subdivision
El Mirador
Land Type
Fee
Year Built
1977
Property Type
Residential Income
Parking Spaces
6
Garage Spaces
0
Heating
Central, Other
Cooling
Air Conditioning
View
Mountain(s), Pool
Flooring
Concrete, Tile
Roof
Flat
City
Palm Springs
Zip Code
92262
County
Riverside
Listed byRealty Trust, Luca Volpe·760-808-3756

Mortgage Calculator

Current Rates

$
$
%
Monthly Payment
$7,428.06
Principal & Interest
Loan Amount
$1,175,200
Total Interest
$1,498,903
Total Payment Over 30 Years
$2,674,103
This calculator provides estimates only. Actual mortgage payments may include taxes, insurance, HOA fees, and PMI. Contact a lender for accurate quotes.

About El Mirador

This property is located in El Mirador, a community in Palm Springs. Explore more listings in this neighborhood to compare options and pricing.

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