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
20
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$4,195,000
Est. payment /mo
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25 BD
25 BA
12,164 SqFt
Active Under Contract

588 E San Lorenzo Rd Palm Springs, CA 92264

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Jason Tomei

Jason Tomei

+1(702) 802-8142

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

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Sotheby's International Realty

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Jason Tomei

Agent | RE.S.0176035

+1(702) 802-8142

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588 E San Lorenzo Rd