Located in South Palm Springs on “Hotel Row”, near The Ace Hotel, The Saguaro, The “V”, and directly across Palm Canyon Drive from The Tropics Hotel.
Classic Palm Springs boutique hotel featuring 15 rooms surrounding the pool & patio areas with magnificent mountain views. Current owner used the property as a private event center and private membership club, but can be converted into a rehab facility, halfway house, detox center, memory care, LGBTQ resort, or weddings. The property was damaged by flood in February 2019 and the new owner can remake this gem in their own vision!
$3,375,000 – SALE
$16,750/Month – LEASE
$50,000 Option Money for Lease w/Option to Buy
|Building Name||Flood Damaged 15-Unit Hotel|
|Property Type||Boutique Hotel|
|Building Size||7,800 SF|
|Lot Size||0.79 Acres|
|Number Of Floors||1|
FROM THE DESERT SUN:
Visitors in 2017 spent over $5.5B in the Coachella Valley. Here’s how tourism managed to rebound from the recession. “Since 2012, room demand has outpaced supply, the report found. While supply grew 2.2 percent in 2017, with the opening of new hotels including the seven-story, 153-room Kimpton Rowan in Palm Springs, it was surpassed by the 3 percent increase in demand.
The average hotel daily rate rose 1.1 percent to $162 per night.”
Retrieved 04/18/2019 from https://www.desertsun.com/story/money/