Listed by Nerses Ananyan, Titus Realty, Inc.,

435 E Avenida Olancha

Palm Springs, CA, 92264

$4,500,000

$1,000 per ft²
$4,500,000
$1,000 per ft²
Active
Active
 - For Sale
carpenters-square
4,500 ft²
property_type
Multi-family
calendar
Built 1960
!!! PRICE REDUCTION!!! 9-unit luxury boutique hotel located in an upscale residential area 1.5 miles from down town Palm Springs. Every once in a while, an exceptional property comes along that a savvy investor will recognize as solid investment opportunity. Little Paradise Hotel consists of 9 guest rooms and the in-keeper suite. Close to 1 million dollars was spent in 2014-2015 to transform the former “Queen of Hearts” to an absolute gem it is today. . In 2020, while closed due to Covid-19 restrictions, it underwent major facelift. Post Covid recovery has exceeded expectations. YTD bookings are in excess of 400K to an estimated 683K target year booking revenue ***Offered at $4,500,000, *** SGI $648,500, ***NOI $334,033, ***CAP 7.4%.
MLS® ID:
SR22032877
Listed:
2/16/22
Updated:
8/20/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Interior Features
Furnished, Laminate Counters, Open Floorplan, Recessed Lighting, All Bedrooms Down
Laundry Description
Common Area, Outside
Floor Description
Laminate, Tile
Fireplace
Family Room, Kitchen
Heating
Central

Exterior/Building Features

Lot Size
0.39 acres lot
Lot Details
6-10 Units/Acre, Sprinkler System
Roof
Shingle
Sewer
Private Sewer

Other Property Details

Area Name
334 - South End Palm Springs
HOA Amenities
Foothills, Mountainous, Sidewalks
Garage
Yes
Garage Spaces
13
Parking
Carport
Parking Total
26.0
View
Y
County
Riverside
Utilities
Natural Gas Connected, Sewer Connected, See Remarks, Water Connected
Water Source
Public
Pool
Yes
Pool Description
Gunite, Heated, In Ground, Private
Total Stories
1
Zoning
R2

Property History

Date
Event
Price
Value
7/19/22
Price Change
$4,500,000
-3%
6/19/22
Price Change
$4,650,000
0%
5/5/22
Price Change
$4,695,000
-5%
3/2/22
Price Change
$4,950,000
104%

 

Listed by Nerses Ananyan, Titus Realty, Inc.,

Based on information from California Regional Multiple Listing Service, Inc. as of 8/20/22. 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 1:40 AM UTC, 8/20/22

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