424 PALM CANYON Drive, Palm Springs, CA 92264 (MLS# 19430368)

424 PALM CANYON Drive, Palm Springs, CA 92264

$3,375,000
Property Type: Commercial Sale Lot Size (sq. ft.): 16,113 Status: Closed
Current Price: $3,375,000 List Date: 2/01/2019 Last Modified: 1/02/2025

Overview

Description

The Iconic "Hotel California" is one of the top rated Hotels on Trip Advisor. Prime South End location between the ACE and V Hotels on E. Palm Canyon Drive. Tropical and lush landscaping with an inviting ambiance and privacy. Strong annual revenue and net income stability (2017 figures attached). All figures are based on the hotels operation with 14 rooms, 18 are approved (attached). Substantially increase revenue once the 4 additional rooms are added to the room count (Room layout & summary attached). Four buildings, Guest Lounge (optional room), office (optional room) and a convenient well stocked guest kitchen and outdoor BBQ area for guests. Relaxing water features, an inviting central Pool, Cabanas, separate spa and many outdoor sitting areas and decks with amazing San Jacinto Mountain views. The "Hotel California Palm Springs" name stays with the property. Many additional revenue opportunities with branding, additional rooms, marketing and selling name related souvenirs and gifts

Listing Details MLS# 19430368

General Property Information

SqFt Source
Other
Lot Acres
0.37
Lot Size Source
Assessor
Year Built
1942

Property Features

Sale Type: Standard Financing: Cash Listing Terms: Cash Asset Class: Hotel/Motel Building Features: Rec Room; TV System Heating: Electric

Listing Location and Property Info

APN
508353039
Original List Price
3375000
Street #
424
Street Name
PALM CANYON
Street Suffix
Drive
County
Riverside
State
CA
Zip Code
92264
Area
334 - Palm Springs South End

Listing Info

Ownership Type
Corporation

Property Info

Building # of Stories
2

Status Change Info

Status Change Date
2019-01-31
Pending Date
2019-01-01
Closed Date
2019-01-31
Closed Price
3375000

More Information

Business Info

Laundry Equipment
No
Sale or Lease
Sale
Year Established
1942

Listing, Location and Property Info

Entry Date
2019-01-01

Sale Type

Standard
Yes

Listing Terms

Cash
Yes

Financing

Cash
Yes

Asset Class

Hotel/Motel
Yes

Building Features

Rec Room
Yes
TV System
Yes

Heating

Electric
Yes
Listing Office: Realty Trust
Listing Agent: Scott Timberlake
Last Updated: January - 02 - 2025
Information deemed reliable but not guaranteed.
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