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
HOA Y/N No
Year Built 2012
Lot Size 0.730 Acres
Acres 0.73
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
Fireplace No
Appliance Barbecue,Microwave,Refrigerator,Dryer,Washer
Exterior
Exterior Feature Koi Pond
Garage Assigned
Carport Spaces 12
Pool In Ground
Community Features Gated
View Y/N Yes
View Desert,Mountain(s)
Parking Type Assigned
Total Parking Spaces 24
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID UNAVAILABLE
Security Features Security Gate,Gated with Guard,Gated Community
Special Listing Condition Standard