For Sale

588 E San Lorenzo Rd, Palm Springs, CA 92264

588 E San Lorenzo Rd

$4,195,000
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%.

25
beds

12,164 Sq.Ft. LIVING AREA

0.73 Acres lot

Eric Lavey

Eric Lavey

Features & Amenities

Interior

  • total bedrooms25
  • KITCHEN Range/Oven, Refrigerator, Freezer, Barbeque, Dryer, Washer, Microwave
  • Laundry room In Unit
  • Fireplace None

Area & Lot

  • Status For Sale
  • Living Area12,164 Sq.Ft.
  • Lot Area0.73 Acres
  • MLS® ID24-351718
  • TypeResidential
  • YEAR BUILT2012
  • Water Frontage['None']
  • View DescriptionDesert, Mountains

Exterior

  • STORIES2
  • water SourcePublic
  • PoolIn Ground
  • lot featuresGated Community
  • parkingAssigned
  • HEAT TYPECentral
  • AIR CONDITIONINGCentral
  • security FeaturesAutomatic Gate, Community, Gated, Gated Community with Guard

Financial

  • Sales Price$4,195,000
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