588 E San Lorenzo Road Palm Springs, CA 92264
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%.
- Property TypeMulti-Family
- NeighborhoodTahquitz River Estates
- CountyRiverside
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site58 Days
- MLS StatusActive Under Contract
- MLS ID Number24351718
- Home Size Source Assessor
- Year Built2012
- Lot Size0.73 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking Assigned
- Parking Spaces 24
- Number of Stories 22
- Acreage 0.73
- Security Automatic GateGated CommunityGated with Guard
- Listing Conditions Standard
Interior Features
- Cooling Central Air
- Heating Central
- Appliances BarbecueMicrowaveRefrigerator
- Fireplace Features None
- Laundry Features Washer IncludedDryer Included
- Fireplace No
Exterior Features
- View DesertMountain(s)
- Pool true
- Spa Yes
- Pool Features In Ground
- Spa Features In Ground
- Private Pool true
- Exterior Koi Pond
Community Features
- Senior Community No
- MLS Area 334 - South End Palm Springs
- Security Features Automatic GateGated CommunityGated with Guard