588 E San Lorenzo Rd, Palm Springs, CA 92264
- $4,195,000
- 25
- BD
- 25
- BA
- 12,164
- SqFt
- List Price
- $4,195,000
- MLS#
- 24-351718
- Status
- ACTIVE UNDER CONTRACT
- Type
- Multifamily
- Bedrooms
- 25
- Bathrooms
- 25
- Living Area
- 12,164
- Neighborhood
- Tahquitz River Estates
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%.
Additional Information
- Pool
- Yes
- Year Built
- 2012
- View
- Desert, Mountains
- Garage
- Assigned
Mortgage Calculator
Courtesy of Sotheby's International Realty, Eric Lavey.
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