Palm Springs, CA 92262,458 W arenas Road

$4,000,000

$4,500,000

11.1%
Est.Price: ?

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Est. payment /mo

5,350 SqFt


SOLD DATE : 05/31/2023

Key Details

Sold Price $4,000,000

Property Type Commercial

Sub Type Comm Ind For Sale

Listing Status Sold

Purchase Type For Sale

Square Footage 5,350 sqft

Price per Sqft $747

MLS Listing ID CRNDP2208907

Sold Date 05/31/23

HOA Y/N No

Year Built 1920

Property Description

Located in the upscale tennis club neighborhood this eight suite unique property is strategically located one block from downtown Palm Springs. Two of the buildings were completed in 1921, with the third and fourth completed over the next 20 years. Legend has it that such notable guests as Lucy and Desi Arnaz, Victor Mature and Vic Morrow frequented the property as the guests of the Sinclair family who purchased the property in 1940's and named it the El Poco Lodge. The property was meticulously renovated approximately 20 years ago and was awarded the "Gold Nugget Award of Merit" for architecture and design at the 2003 Pacific Construction Builders conference. Each of the one bedroom villas includes a complete kitchen, washer and dryer, large walk-in shower, Spanish style furnishings. Six of the Villas have an outside whirlpool tub and fire pit. The current owners who purchased the property in 2011 spare no expense in maintaining the property. That is very apparent as you walk through these stunning suites. With an 83% 12 month trailing annual occupancy, there is a tremendous opportunity for a new owner to increase rates directly affecting the NOI. Private Weddings and events could provide additional income. This property would also work for a private corporate retreat or for a g

Location

State CA

County Riverside

Area Central Palm Springs

Zoning R-3

Interior

Fireplace No

Building

New Construction No

Others

Tax ID 513470001

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Bridge MLS
Listed by Jaime Rook • JMR Real Estate
Bought with Datashare Cr Don't DeleteDefault Agent
agent-avatar

+1(925) 808-9139

justinkenney96@gmail.com

9030 BRENTWOOD BLVD, BRENTWOOD, California, 94513, United States

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