CA > Palm Springs > Tahquitz River Estates
Palm Springs, CA 92264,588 E San Lorenzo Rd
Palm Springs, CA 92264,588 E San Lorenzo Rd
Palm Springs, CA 92264,588 E San Lorenzo Rd
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Shawn Kormondy

Shawn Kormondy

+1(323) 638-7567
$4,195,000
Est. payment /mo
25 Beds
25 Baths
12,164 SqFt
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UPDATED:

03/28/2024 05:13 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 12,164 sqft

Price per Sqft $344

Subdivision Tahquitz River Estates

MLS Listing ID 24-351718

Bedrooms 25

Year Built 2012

Lot Size 0.730 Acres

Acres 1.0

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%.

Location

State CA

County Riverside

Area Palm Springs South End

Rooms

Other Rooms Cabana

Interior

Heating Central

Cooling Central

Fireplaces Type None

Equipment Range/Oven, Refrigerator, Freezer, Barbeque, Dryer, Washer, Microwave

Laundry In Unit

Exterior

Garage Assigned

Garage Spaces 24.0

Pool In Ground

Waterfront Description None

View Y/N Yes

View Desert, Mountains

Building

Lot Description Gated Community

Story 2

Water Public

Level or Stories Two

Others

Special Listing Condition Standard

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Listed by Sotheby's International Realty

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Shawn Kormondy

+1(323) 638-7567

Agent | License ID: 01451888

Agent License ID: 01451888

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