588 E San Lorenzo Road
Palm Springs, CA 92264
- – beds
- – baths
- – sqft
- ~3/4 acre lot
- 2012 build
- – on site
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%.
Last checked:
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Last updated Nov 27, 2024
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MLS# 24351718 —
The Building
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Year Built:2012
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Year Built Source:Assessor
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New Construction:No
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Building Area Total:12164.00
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Total Number Of Units:12
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# of Buildings:1
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Exterior Features:Koi Pond
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Stories Total:2
Interior
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Levels:Two
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Entry Location:Main Level
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Fireplace:No
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Fireplace:None
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Laundry:Washer Included, Dryer Included
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Laundry:1
Financial & Terms
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Disclosures:CC And R's
Location
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Directions:Take I-10 E, Merge onto CA-111, Continue onto Palm Canyon, Turn Left onto E Stevens Rd, Turn Right onto N Indian Canyon Drive, Continue onto S Palm Canyon Drive, Turn Left onto E Mesquite Ave, Turn Left onto Random Rd, Turn Right onto E San Lorenzo
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Latitude:33.80972300
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Longitude:-116.54211400
The Property
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Property Type:Residential Income
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Lot Size Area:31799.0000
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Lot Size Acres:0.7300
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Lot Size SqFt:31799.00
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Lot Size Source:Assessor
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View:1
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View:Desert, Mountain(s)
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Security Features:Automatic Gate, Gated Community, Gated with Guard
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:UNAVAILABLE
Heating & Cooling
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Heating:1
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Heating:Central
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Cooling:Yes
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Cooling:Central Air
Appliances
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Appliances:Barbecue, Microwave, Refrigerator
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Included:Yes
The Community
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Subdivision:Tahquitz River Estates
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Subdivision:Tahquitz River Estates
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Association:No
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Pool:In Ground
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Senior Community:No
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Spa:1
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Spa Features:In Ground
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Assessments:No
Parking
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Parking:Yes
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Parking:Assigned
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Parking Spaces:24.00
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Uncovered Spaces:12.00
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Carport Spaces:12.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
8/29/24
Aug 29, 2024
|
Sold Subject To Contingencies | CRMLS_CA | $4,195,000 | |
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1/26/24
Jan 26, 2024
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Listed / Active | CRMLS_CA | $4,195,000 | 67.8% (3.9% / YR) |
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8/14/06
Aug 14, 2006
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DAMLS | $2,500,000 |
