435 E Avenida Olancha Active Save Request In-Person Tour Request Virtual Tour
Palm Springs,CA 92264
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Tahquitz River Estates (33510)
MLS Listing ID SR25023829
Year Built 1960
Lot Size 0.390 Acres
Property Sub-Type Mixed Use
Property Description
9-unit luxury boutique hotel located in an upscale residential area 1.5 miles from down town Palm Springs. After 10 years of successful operation owner is retiring. Currently the hotel is being run by employees with minimal owner interference. Completely updated. No deferred maintenance. No advertising. Minimal social media presence. Mostly referrals and return guests. One of the highest overall rated hotels in the country through all media platforms, including Google, Yelp, Expedia, Booking, TripAdvisor, etc. All the ratings are organic and travelers felt compelled to express their satisfaction without being asked for it.
***Offered at $4,400,000, *** SGI $556,500, ***NOI $297,437, ***CAP 6.76%.
Location
State CA
County Riverside
Area 334 - South End Palm Springs
Zoning R2
Rooms
Other Rooms Gazebo
Interior
Heating Central
Flooring Laminate,Tile
Fireplaces Type Family Room,Kitchen
Laundry Common Area,Outside
Exterior
Parking Features Carport
Garage Spaces 13.0
Garage Description 13.0
Pool Gunite,Heated,In Ground,Private
Community Features Foothills,Mountainous,Sidewalks
Utilities Available Natural Gas Connected,Sewer Connected,See Remarks,Water Connected
View Y/N Yes
Roof Type Shingle
Building
Lot Description 6-10 Units/Acre,Sprinkler System
Story 1
Foundation Concrete Perimeter
Sewer Private Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash,Cash to Existing Loan,Cash to New Loan,1031 Exchange
Listing Terms Cash,Cash to Existing Loan,Cash to New Loan,1031 Exchange
Special Listing Condition Standard