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%.
Property Details
Price:
$4,195,000
MLS #:
24351718
Status:
Active Under Contract
Baths:
0
Address:
588 E San Lorenzo Road
Type:
Residential Income
Subdivision:
Tahquitz River Estates
City:
Palm Springs
Listed Date:
Jan 26, 2024
State:
CA
ZIP:
92264
Lot Size:
31,799 sqft / 0.73 acres (approx)
Year Built:
2012
Schools
Interior
Appliances
Barbecue, Microwave, Refrigerator
Cooling
Central Air
Fireplace Features
None
Heating
Central
Exterior
Exterior Features
Koi Pond
Parking Features
Assigned
Pool Features
In Ground
Security Features
Automatic Gate, Gated Community, Gated with Guard
Spa Features
In Ground
Stories Total
2
View
Desert, Mountain(s)
Financial
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Courtesy of Sotheby’s International Realty. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the Palm Springs, Coachella Valley, and High Desert. Detailed information about real estate listings held by brokerage firms other than Leaskou Partners, Inc include the name of the listing broker. Neither the listing company nor Leaskou Partners, Inc shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. Palm Springs, Coachella Valley, and High Desert. All rights reserved.
588 E San Lorenzo Road
Palm Springs, CA
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