Active

535 S Warm Sands Drive

Palm Springs CA, 92264

$6,800,000


$1,360,000.00 per sqft

Active

5 sqft

Residential

Built in 1949

Listed by Mohsen Aghazadeh with Coldwell Banker Realty 858-459-3851

This extraordinary Hotel & Resort presents an unparalleled investment opportunity, has 31 licenses with 28 operating rooms in which the business benefits from a steady stream of travelers. Large 1.72 acre owned Fee Simple property on an extended lot is one of the largest available development lots in the City of Palm Springs. The hotel is located within 10 minutes to downtown with great potential for a conversion to a high ADR Boutique Hotel in addition to the already consistent revenue growth over the past several years. The hotel renovation has recently completed, fully renovated, permitted owners unit (Conversion of 5 rentable hotel rooms to a single owners residence) with separate private entrance and an approximately 500 sq.ft. operation managers unit. The permitted new roof with warranty, mini splits and water heaters have all been replaced within the last few years. All property tours must be arranged through the selling agent on Tuesdays or Wednesdays only. Please DO NOT CONTACT PROPERTY Owners OR EMPLOYEES! For more information and to sign the Confidentiality Agreement, please contact (949) 289 - 6900 or [email protected]

NDP2400129

MLS ID

January 3, 2024

Listed

February 16, 2024

Updated

Map

535 S Warm Sands Drive
Palm Springs CA, 92264

Interior Features

Total Stories

1


Laundry Description

Laundry Room


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

1.72 Acres


Lot Features

31-35 Units/Acre


Sewer

Public Sewer

Other Property Details

Area Name

332 - Central Palm Springs


Days on Market

40


Garage

Yes


Garage Spaces

31


Parking Total

31


View

No


County

Riverside


Water Source

Public


Pool

Yes


Pool Features

In Ground


Zoning

Commercial Residential


Buyer Agency Compensation

2%

Listing History

Date

Event

Price

2/15/2024

Price Change

$6,800,000

-13%

Listing Contact: 858-459-3851 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 2/16/2024. 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 2/16/2024 at 4:17 AM UTC

 

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