Homes for sale - 588 E San Lorenzo RD, Palm Springs, CA 92264

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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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Jeff Underdahl

jeff@jeffunderdahl.com +1(760) 271-8772

UPDATED:

12/05/2024 12:59 AM

Key Details

Property 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 24351718

Bedrooms 25

HOA Y/N No

Year Built 2012

Lot Size 0.730 Acres

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 334 - South End Palm Springs

Interior

Heating Central

Cooling Central Air

Fireplaces Type None

Fireplace No

Appliance Barbecue, Microwave, Refrigerator, Dryer, Washer

Exterior

Exterior Feature Koi Pond

Parking Features Assigned

Carport Spaces 12

Pool In Ground

Community Features Gated

View Y/N Yes

View Desert, Mountain(s)

Total Parking Spaces 24

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID UNAVAILABLE

Security Features Security Gate,Gated with Guard,Gated Community

Special Listing Condition Standard

Listed by Eric Lavey • Sotheby's International Realty

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Jeff Underdahl

CEO/Team Leader | License ID: 01077484

+1(760) 271-8772