Under contract
588 E San Lorenzo Rd
Palm Springs CA, 92264
$4,195,000
$344.87 per sqft
Under contract
25 Beds
25 Baths
12,164 sqft
Multi-family
Built in 2012
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%.
24-351718
MLSⓇ ID
January 26, 2024
Listed
August 23, 2024
Updated
Map
588 E San Lorenzo Rd
Palm Springs CA, 92264
Interior Features
Total Stories
2
Bedrooms
25
Total Bathrooms
25
Appliances
Range/Oven, Refrigerator, Freezer, Barbeque, Dryer, Washer, Microwave
Laundry Description
In Unit
Fireplace
No
Fireplace Description
None
Cooling
Yes
Cooling Description
Central
Heating
Yes
Heating Description
Central
Exterior/Building Features
Lot Size
0.73 Acres
Lot Features
Gated Community
Other Property Details
Area Name
Palm Springs South End
Days on Market
62
Garage
No
Parking
Assigned
Parking Total
24
View
Yes
View Description
Desert, Mountains
County
Riverside
Water Source
Public
Pool
Yes
Pool Features
In Ground
Listing History
Date | Event | Price |
---|---|---|
3/28/2024 | Under contract | — |
Listed by Eric Lavey with Sotheby's International Realty
Listing Contact: 310-908-6800
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Joseph Custer | CA DRE# 01846723 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 8/23/2024