588 E San Lorenzo RD Save Request In-Person Tour Request Virtual Tour
Palm Springs,CA 92264
Key Details
Property Type Multi-Family
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 12,164 sqft
Price per Sqft $344
Subdivision Tahquitz River Estates
MLS Listing ID 24351718
Bedrooms 25
Year Built 2012
Lot Size 0.730 Acres
Property 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%.
Location
State CA
County Riverside
Area 334 - South End Palm Springs
Interior
Heating Central
Cooling Central Air
Fireplaces Type None
Exterior
Exterior Feature Koi Pond
Parking Features Assigned
Pool In Ground
Community Features Gated
View Y/N Yes
View Desert,Mountain(s)
Building
Story 2
New Construction No
Others
Special Listing Condition Standard