Listed by Paul Pedrazas, HomeSmart,

589 S Grenfall Road

Palm Springs, CA, 92264

$3,850,000

$877 per ft²
$3,850,000
$877 per ft²
Active
Active
 - For Sale
beds
8 Beds
baths
9 Baths
carpenters-square
4,388 ft²
property_type
Multi-family
calendar
Built 1950
Major income opportunity at 11% GRM for this 8 room boutique hotel walking distance to downtown Palm Springs entertainment. Beautifully upgraded and maintained price includes handsome furniture, luxury linens, art and accessories. Bookings handled by owners thru online system by phone on a vacation rental basis. No full time staff expenses. Rooms electronically keyed. Hotel is walled for privacy, hotel licensed by City, has adequate parking. In addition to rooms, hotel has an entertainment room with full kitchen and large outdoor BBQ. Quality maintained with Pool/Spa resurfaced, pool equipment replaced, new central AC units, and on demand hot water within last few years. A profitable opportunity to increase current revenues thru increased rents, ancillary services such as private events for small groups. Ready to take over and begin making income on your first day of ownership. Set up your private tour and take this great opportunity. 1031 participation requested. Seller financing available with 50% down.
MLS® ID:
22184517
Listed:
7/29/22
Updated:
9/30/22

Interior Features

Kitchen Appliances
Disposal, Microwave, Refrigerator, Dryer
Total Bedrooms
8
Total Bathrooms
9
Interior Features
Ceiling Fan(s)
Laundry Description
Inside, Laundry Room
Heating
Natural Gas

Exterior/Building Features

Lot Size
0.26 acres lot
Sewer
Sewer Tap Paid

Other Property Details

Area Name
334 - South End Palm Springs
Garage
No
Parking
Private
Parking Total
8.0
View
Y
County
Riverside
Pool
No
Pool Description
Gunite, In Ground
Total Stories
1
Zoning
R2

 

Listed by Paul Pedrazas, HomeSmart,

Based on information from California Regional Multiple Listing Service, Inc. as of 9/30/22. 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, 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.

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Data last updated 9:05 AM UTC, 9/30/22

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