588 E San Lorenzo Road

Palm Springs, CA 92264

$4,195,000

List Price

25

bed Beds

25

shower Baths

12,164 sqft

straighten / sqft

2012

calendar_month Built

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%.

Listing Information

List Price $4,195,000
Status Active Under Contract
MLS 24351718
Type Residential Income
Year Built 2012
Lot Size 31,799
Structure Size 12,164
DOM 216
Courtesy Of Sotheby's International Realty
Listing Agent Eric Lavey DRE#01511292
Co-Listing Agent John & Ryan Group DRE#01415106

Interior Features

Total Bedroom
Bedrooms 25
Total Bathroom
Bathrooms 25
Fireplace Information
Features None
Cooling Type
Cooling Type Central Air

Exterior Information

Maps

Listing information courtesy of: Eric Lavey, John & Ryan Group, Sotheby's International Realty . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 6:29 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.