Sold
312 Camino Monte
Palm Springs CA, 92262
$2,130,000
Sold
Commercial
Built in 1948
Listed by Scott Timberlake with Realty Trust (760) 327-8000
Fully licensed boutique hotel close to the Uptown District. Property (Hotel) has been closed since 2019, but operational. Currently licensed as a 10 room boutique hotel , with 12 rooms. Two are adjoining connecting suites. This Fee simple property sits next to the successful Descanso Hotel and is priced well with unlimited potential depending on the new owners vision. Center court swimming pool, in ground Spa and Sauna / Steam room. Most units have kitchens or kitchenettes. Could potentially be used as a compound or multi unit apartment building subject to city zoning approval. The room count for the hotel license is 10 due to the 10 parking stalls on site. See the attached pro forma, which includes projections based on other similar properties, in its current condition and following new owner renovations. Site plan / Room layout in Documents, as well. Alarms on property, do not go direct. Shown by appointment only please contact listing agent. Full solar, paid for no solar lease. The city of Palm Springs has a TOT rebate program over the next 10 years that could be a substantial savings estimated at $50,000 per year or more if qualified.
219089474PS
MLSⓇ ID
March 23, 2024
Updated
Map
312 Camino Monte
Palm Springs CA, 92262
Interior Features
Total Stories
2
Laundry Description
Inside
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Solar, Wall Furnace
Exterior/Building Features
Lot Size
0.4 Acres
Lot Features
Corner Lot, Landscaped, Sprinklers Timer, Sprinkler System, Street Level
Roof
Flat
Other Property Details
Area Name
332 - Central Palm Springs
Days on Market
90
Garage
No
Parking Total
10
View
No
County
Riverside
Pool
No
Buyer Agency Compensation
2%
Listing Contact: (760) 327-8000
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Data last updated on 3/23/2024 at 1:24 AM UTC