Listed by Jaime Rook, JMR Real Estate,

458 W Arenas Road

Palm Springs, CA, 92262

$4,900,000

$915 per ft²
$4,900,000
$915 per ft²
Active
Active
 - For Sale
carpenters-square
5,350 ft²
property_type
Commercial
calendar
Built 1920
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 group of friends looking to purchase a property with eight complete suites. There is also an office that is the same size as the other suites and has a full kitchen, bathroom and bedroom. Room Mix ESTIMATED Square Footage: Villa 1 - 750, Villa 2 - 650, Villa 3 - 700, Villa 4 - 650, Villa 5 (office) - 650, Villa 6 - 650, Villa 7 - 650, Villa 8 - 650 TOTAL ESTIMATED S.F. - 5,350. The property website includes a virtual tour.
MLS® ID:
NDP2208907
Listed:
8/10/22
Updated:
9/25/22

Exterior/Building Features

Lot Size
0.4 acres lot
Lot Details
Rectangular Lot

Other Property Details

Area Name
332 - Central Palm Springs
Garage
No
Parking
N
Parking Total
111111.0
View
N
County
Riverside
Water Source
Public
Pool
No
Zoning
R-3

 

Listed by Jaime Rook, JMR Real Estate,

Based on information from California Regional Multiple Listing Service, Inc. as of 9/25/22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing.  Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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Data last updated 5:26 AM UTC, 9/25/22

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