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 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 3/23/2024 at 1:24 AM UTC

 

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