350 E Palm Canyon Drive

    Palm Springs, CA 92264
    • $4,500,000
    • STATUS: Active
    • ON SITE: 86 days
    • MLS #: 19427444PS
    UPDATED: 83 min ago
    $4,500,000
    • 30
      BEDS
    • 1.4
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1960
    County:

    School Ratings & Info

    Description

    Premium South Palm Canyon location surrounded by boutique hotels and restaurants, El Moro Villas includes two parcels totaling just under an estimated 1.5 acres of land lot size. Options are limitless for a new buyer. The property historically used at one time as a hotel / short-term offering, and for the past 15+ years has been utilized as long-term fully furnished studio apartments. The property currently includes 30 total units, plus an onsite office and an additional large storage or small retail / restaurant space having the required plumbing. Current tenants experience high quality residential living with resort like amenities such as an oversized pool and spa, lush landscaping and all-inclusive utilities including cable and internet. New buyer may capitalize on the surging boutique hotel demand or continue operating as studio apartments.

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    ©2019 California Desert Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Brad Schmett Real Estate Group or eXp Realty of California, Inc.. Based on information from the California Desert Association of Realtors as of 2019-04-24T23:43:19.413. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker of MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listing by the office/agent presenting the information.

    Licensed in the State of California, USA
    www.bradschmett.net/homes/91237655

    350 E Palm Canyon Drive Palm Springs, CA 92264

    • Price: $4,500,000
    • Status: Active
    • Updated: 83 min ago
    • MLS #: 19427444PS
    30
    Beds
    0
    Baths
    0
    ½ Baths
    1.4
    Acres
    1960
    Built
    Neighborhood:
    Tahquitz River Estat
    County:
    Riverside
    Area:
    Palm Springs South E
    Property Description
    Premium South Palm Canyon location surrounded by boutique hotels and restaurants, El Moro Villas includes two parcels totaling just under an estimated 1.5 acres of land lot size. Options are limitless for a new buyer. The property historically used at one time as a hotel / short-term offering, and for the past 15+ years has been utilized as long-term fully furnished studio apartments. The property currently includes 30 total units, plus an onsite office and an additional large storage or small retail / restaurant space having the required plumbing. Current tenants experience high quality residential living with resort like amenities such as an oversized pool and spa, lush landscaping and all-inclusive utilities including cable and internet. New buyer may capitalize on the surging boutique hotel demand or continue operating as studio apartments.
    Exterior Features

    Carport Or Covered Spaces 0 Pool Yes Pool Descriptions Pool-Indoor Total Other Spaces 0 Total Parking Spaces 30

    Interior Features

    Avg Sq Ft Studio 0 Avg Sq Ft1 Bedroom 0 Avg Sq Ft2 Bedroom 0 Avg Sq Ft3 Bedroom 0 Bathrooms 30.00 Cooling Type Air ConditioningCeiling Fan(S) Entry Level 0

    Property Features

    Act Total Rent 0.00 Adj Gross Income 0.00 Annual Gross Rent 0.00 Annual Land Lease Amount 0.00 Disclosures Property As Is Green Year Certified 0 Gross Annual Income 0.00 Gross Operating Inc 324000.00 Gross Schedule Inc 0.00 Land Fee Landlord Pays For ElectricityGardenerPool ServiceWater Lot Size Source (Other) MLS Claw Mls Monthly Gross Income 0.00 Net Operating Inc 196000.00 Number Of Buildings 8 Operating Expenses 0.00 Property Subtype Residential Income Realtor Association Palm Springs Assocation Of Realtors Sale Type Standard Sale Square Footage Source Other Tax Rate 0.00 Total Annual Op Exp 128000.00 Total Taxes 0.00 Tv Services Cable

    Listing information © 2019 California Desert Association of Realtors.
    Listing provided courtesy of Md Mclean of Mclean Company Rentals.
    ©2019 California Desert Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Brad Schmett Real Estate Group or eXp Realty of California, Inc.. Based on information from the California Desert Association of Realtors as of 2019-04-24T23:43:19.413. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker of MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listing by the office/agent presenting the information.

    Licensed in the State of California, USA
     
    Brad Schmett Real Estate Group or eXp Realty of California, Inc.
    760-880-5845
    La Quinta and Palm Springs CA,