359 W Avenida Cerca
About This Property
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 10, 2025 | Price Decreased |
$1,100,000
↓ $50K
(4.4%) | |
| Price Decreased | |||
| Aug 2, 2025 | Price Decreased |
$1,150,000
↓ $100K
(8%) | |
| Price Decreased | |||
| Jun 19, 2025 | Listed | $1,250,000 | |
| Listed | |||
| | |||
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Experience quintessential Palm Springs living in this beautifully renovated midcentury modern gem, located in the fast-growing Desert Highland neighborhood. Thoughtfully upgraded and impeccably maintained, this stylish home blends timeless design with modern luxury—perfect as a private retreat or an income-producing property.
Enter through a striking motorized gate into your personal desert sanctuary, where a mature ficus hedge ensures total privacy and a sense of seclusion. Inside, the open-concept floor plan showcases a sleek gourmet kitchen with quartz countertops and stainless steel appliances, seamlessly connecting to spacious living and dining areas ideal for relaxing or entertaining. Designer steel and glass sliding doors frame views of the San Jacinto Mountains, filling the home with natural light and unforgettable scenery.
Step outside to experience true resort-style living. A sparkling saltwater pool and spa are complemented by an outdoor kitchen, pool house, and gym—creating the ultimate setting for leisure and luxury. Each bedroom suite features its own private patio, delivering a refined guest experience with comfort and privacy in mind.
Approved for Airbnb and comfortably within the city’s rental cap, this exceptional property presents a rare opportunity to own a turn-key vacation home with proven income potential in one of Palm Springs' most dynamic communities.
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| Oct 6, 2021 | No longer available | - | |
| No longer available | |||
| Aug 21, 2020 | Sold | ||
| Sold | |||
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About Desert Highland - Gateway Estates
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017