Active

588 E San Lorenzo Road

Palm Springs CA, 92264

$4,195,000


$344.87 per sqft

Active

25 Beds

25 Baths

12,164 sqft

Residential

Built in 2012

Listed by Eric Lavey with Sotheby's International Realty 310-724-7000

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%.

24351718

MLS ID

January 26, 2024

Listed

February 24, 2024

Updated

Map

588 E San Lorenzo Road
Palm Springs CA, 92264

Interior Features

Total Stories

2


Bedrooms

25 Beds


Bathrooms

25 Baths


Appliances

Barbecue, Microwave, Refrigerator, Dryer, Washer


Fireplace

Yes


Fireplace Description

None


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Central

Exterior/Building Features

Lot Size

0.73 Acres


Exterior Features

Koi Pond

Other Property Details

Area Name

334 - South End Palm Springs


Days on Market

28


Garage

No


Parking

Assigned


Parking Total

24


View

Yes


View Description

Desert, Mountain(s)


County

Riverside


Pool

No


Pool Features

In Ground


Buyer Agency Compensation

2%

Listing Contact: 310-724-7000 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 2/24/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 2/24/2024 at 3:08 AM UTC

 

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