Updated Sep 8, 2026
Thomas Ammirato Acquires Multifamily Property From Steve Huffman For $5.855M In Palm Springs
1680 East Palm Canyon Drive
$5,855,000
$288/SF
Building Size
20,296 SF
Asset Type
MultiFamily
Closing
Aug 31, 2026
About this deal
AI
The property asset involved in this transaction is a multifamily unit located at 1680 East Palm Canyon Drive, situated in the Palm Springs market. The sale was concluded at a price of $5,855,000. This asset comprises 30 units, with a price per unit of $195,166, and has a total square footage of 20,296, leading to a price per square foot of $288.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,855,000
- Units: 30
- Price Per Unit: $195,166
- Square Footage: 20,296
- Price Per Square Foot: $288
- Buyer: Thomas Ammirato
- Seller: Steve Huffman
- Seller's Representative: Eric Chen & Blake Torgerson - CBRE
- Date of Transaction: 08/31/2026
Key individuals involved in the transaction include the buyer, Thomas Ammirato, and the seller, Steve Huffman. The seller was represented by Eric Chen and Blake Torgerson from CBRE, who facilitated the sale process for the seller's interests.
Palm Springs MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.71%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93