535 S Warm Sands Drive Palm Springs, CA 92264
Listing Courtesy of: CRMLS / Coldwell Banker Realty / Mohsen Aghazadeh

  535 S Warm Sands Drive Palm Springs, CA 92264

Active (98 Days)
$6,800,000

Description

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  PurpleFilesRealEstate@gmail.com

MLS #:
NDP2400129
Lot Size
1.72 acres
Type
Multifamily
Year Built
1949
County
Riverside County

Listed By

Mohsen Aghazadeh, DRE #01469990 CA, Coldwell Banker Realty, Contact: PurpleFilesRealEstate@gmail.com
Source
CRMLS
Last checked Apr 12 2024 at 7:32 PM GMT-0700
Bathroom Details
Interior Features
  • Laundry: Laundry Room
Lot Information
  • 31-35 Units/Acre
Pool Information
  • In Ground
Utility Information
  • Utilities: Water Source: Public
  • Sewer: Public Sewer
Additional Listing Info
  • Buyer Brokerage Commission: 2.000
Location
   
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Listing Price History

Date
Event
Price
% Change
$ (+/-)
Feb 14, 2024
Price Changed
$6,800,000
-13%
-1,000,000
Jan 03, 2024
Original Price
$7,800,000
-
-
Disclaimer: Based on information from California Regional Multiple Listing Service, Inc. as of 2/22/23 10:28 and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable.