435 E Avenida Olancha new Save Request In-Person Tour Request Virtual Tour
Palm Springs,CA 92264
Key Details
Property Type Commercial
Sub Type Special Purpose
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR25021792
HOA Y/N No
Year Built 1960
Lot Size 0.390 Acres
Property Description
9-unit luxury boutique hotel located in an upscale residential area 1.5 miles from down town Palm Springs. After 10 years of successful operation owner is retiring. Currently the hotel is being run by employees with minimal owner interference. Completely updated. No deferred maintenance. No advertising. Minimal social media presence. Mostly referrals and return guests. One of the highest overall rated hotels in the country through all media platforms, including Google, Yelp, Expedia, Booking, TripAdvisor, etc. All the ratings are organic and travelers felt compelled to express their satisfaction without being asked for it.
***Offered at $4,400,000, *** SGI $556,500, ***NOI $297,437, ***CAP 6.76%.
Location
State CA
County Riverside
Area 334 - South End Palm Springs
Interior
Heating Central
Fireplace No
Laundry Common Area,Outside
Exterior
Utilities Available Natural Gas Connected,Sewer Connected,See Remarks,Water Connected
Roof Type Shingle
Total Parking Spaces 13
Building
Lot Description 6-10 Units/Acre,Sprinkler System
Story 1
Water Public
Others
Tax ID 508353019
Acceptable Financing Cash,Cash to Existing Loan,Cash to New Loan,1031 Exchange
Listing Terms Cash,Cash to Existing Loan,Cash to New Loan,1031 Exchange
Special Listing Condition Standard