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535 S Warm Sands Drive

Palm Springs, CA 92264
  • $6,800,000
  • STATUS: Active
  • ON SITE: 104 Days
  • MLS #: NDP2400101
$6,800,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1949
County:

School Ratings & Info

Listing Agent(s): Mohsen Aghazadeh of Coldwell Banker Realty (858-459-3851)


Description

This extraordinary Hotel & Resort presents an unparalleled investment opportunity, has 31 licenses with 28 operating rooms in which the business benefits from a steady stream of travelers.Large 1.72 acre owned Fee Simple property on an extended lot is one of the largest available development lots in the City of Palm Springs.The hotel is locatedwithin 10 minutes to downtown with great potentialfor a conversion to a high ADRBoutique Hotel in addition to the already consistent revenue growth over the past several years. The hotel renovationhas recentlycompleted, fully renovated, permitted owners unit (Conversion of 5 rentable hotel rooms to a single ownersresidence) with separate private entrance and an approximately 500 SQFT. operation managers unit. The permitted new roof with warranty, mini splits and water heaters have all been replaced within the last few years.All property tours must be arranged through the selling agent on Tuesdays or Wednesdays only. Please DO NOT CONTACT PROPERTY Owners OR EMPLOYEES!For more information and to sign the Confidentiality Agreement, please contact (949) 289 - 6900 orPurpleFilesRealEstate@gmail.com

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-18T19:25:09.463. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Brad Schmett Real Estate Group. Licensed in the State of California, USA.
www.bradschmett.net/homes/146434773
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535 S Warm Sands Drive Palm Springs, CA 92264

  • Price: $6,800,000
  • Status: Active
  • On Site: 104 Days
  • MLS #: NDP2400101
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1949
Built
Neighborhood:
332 - Central Palm Springs
County:
Riverside
Area:
332 - Central Palm Springs
Property Description
This extraordinary Hotel & Resort presents an unparalleled investment opportunity, has 31 licenses with 28 operating rooms in which the business benefits from a steady stream of travelers.Large 1.72 acre owned Fee Simple property on an extended lot is one of the largest available development lots in the City of Palm Springs.The hotel is locatedwithin 10 minutes to downtown with great potentialfor a conversion to a high ADRBoutique Hotel in addition to the already consistent revenue growth over the past several years. The hotel renovationhas recentlycompleted, fully renovated, permitted owners unit (Conversion of 5 rentable hotel rooms to a single ownersresidence) with separate private entrance and an approximately 500 SQFT. operation managers unit. The permitted new roof with warranty, mini splits and water heaters have all been replaced within the last few years.All property tours must be arranged through the selling agent on Tuesdays or Wednesdays only. Please DO NOT CONTACT PROPERTY Owners OR EMPLOYEES!For more information and to sign the Confidentiality Agreement, please contact (949) 289 - 6900 orPurpleFilesRealEstate@gmail.com
Exterior Features

Entry Level 1 Lot Features 0-1 Unit/Acre Parking Total 0 Sign On Property YN No

Interior Features

Appliances Dryer Cooling YN No Heating YN No

Property Features

Additional Parcels YN No Association Fee 0 Cap Rate 10 Gross Scheduled Income 1450000 Insurance Expense 3850 Laundry Features Common AreaElectric Dryer Hookup Listing Agreement Exclusive Right To Sell Listing Service Limited Service Listing Terms Contract Net Operating Income 715000 Operating Expense 485000 Property Sub Type Business Special Listing Conditions Standard Trash Expense 1500 Water Source Public Zoning Commercial Hospitality FE



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-18T19:25:09.463. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Brad Schmett Real Estate Group. Licensed in the State of California, USA.
 
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Brad Schmett Real Estate Group
78010 Main St. Suite 207
La Quinta CA, 92253
Listing Agent(s): Mohsen Aghazadeh of Coldwell Banker Realty (858-459-3851)