588 E San Lorenzo Road , Palm Springs, CA 92264
Palm Springs, CA 92264
Description
PALM SPRINGS HOTEL: Extremely rare Palm Springs hotel opportunity with a total of 25 bedrooms - 12 units each with their own Kitchen and Laundry. Manager's Office/Lobby, community bathroom and 3 cabana locations. Eleven units are 2 bedroom and 2 bath and one is a 3/3 Penthouse. Situated in the highly desirable neighborhood connecting Central and South Palm Springs next to the recently completed Cody Place, where units sell over $1M. Just a block east of South Palm Canyon Drive, the location offers easy access to shopping, dining, entertainment, and medical facilities near historic Downtown Palm Springs. Featuring gated controlled access, ample parking, a luxurious pool and spa, koi pond, private patio/BBQ area, and an open courtyard, the property provides a perfect blend of comfort and entertainment. Modern amenities such as keyless entry, plank and carpet flooring, stainless steel appliances, and central air conditioning enhance the living experience. Besides as a hotel, there is also an ability to condo map the building and sell off as condos at a later date for a significant return. Whether you're a first-time purchaser, seasoned investor, or considering a 1031 exchange, 588 E San Lorenzo Road stands as a prime income-producing investment in the thriving Palm Springs real estate market. Current loan is assumable at rate of 4.75%.
Details
| MLS# | 24351718 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 2012 |
| Days On Site | 352 |
| Listing Provided By | Sotheby's International Realty 310-724-7000 | Eric Lavey |
Features
| Bed(s) | 25 |
|---|---|
| Bath(s) | 25 |
| SQ Feet | 12,164 |
| Car Port | Yes |
| Pool | Yes |
| Story(s) | 2 |
| Units | 12 |
| Building(s) | 1 |
| Acreage | 0.73 |
| Property View | Yes |
Market Activity 92264
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Learn More About This Property
| State | CA |
|---|---|
| County | Riverside |
| City | Palm Springs |
| Zip Code | 92264 |
| Area | 334 South End Palm Springs |
| Community Name | Tahquitz River Estates |
| Listing VS Median (in Tahquitz River Estates) | |
Price: $4,195,000 low | high Med: $1,980,000 SqFt: 12,164 low | high Med: 2,430 $ / SqFt: $345 low | high Med: $815 On Site: 352 low | high Med: 34.000000 | |
