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375 W Arenas Rd
Palm Springs, CA 92262
The Rossi Hotel Palm Springs · Hospitality Property For Sale
·
8,500 SF
PROPERTY FACTS
| Property Type | Hospitality | No. Stories | 1 |
| Property Subtype | Hotel | Year Built/Renovated | 1920/2017 |
| Building Class | A | Tenancy | Single |
| Lot Size | 0.55 AC | Parking Ratio | 1.36/1,000 SF |
| Building Size | 8,500 SF | Corridor | Exterior |
| Zoning | C | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | A |
| Lot Size | 0.55 AC |
| Building Size | 8,500 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1920/2017 |
| Tenancy | Single |
| Parking Ratio | 1.36/1,000 SF |
| Corridor | Exterior |
| Zoning | C |
AMENITIES
- Balcony
- Pool
- Spa
- High Speed Internet Access
- Public Access Wifi
- Smoke-Free
ABOUT 375 W ARENAS RD , PALM SPRINGS, CA 92262
Award winning, 11-hacienda boutique hotel with an outstanding location in Palm Springs' most desirable neighborhood, the Historic Tennis Club neighborhood. The asking price represents a 9.3% cap rate based on actual 2018 operating NOI, after a 4% reserve and after adjusting property taxes to post-sale levels. Further upside exists because there was significant business interruption from the adjacent construction project which began in April, 2018. Further, the hotel serves primarily return guests and does not use OTA's like Booking or Expedia. The Rossi was listed among the top hotels in the world in the Condé Nast 2018 HOT LIST, and has been ranked #5 among "The Top 10 Most Romantic Hotels in the US" by TripAdvisor. Excellent opportunity for an owner/operator or an absentee owner. DO NOT CONTACT THE STAFF OF THE HOTEL ABOUT THIS LISTING.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $3,734,390 | |
| Land Assessment | $920,066 | Total Assessment | $4,654,456 |
PROPERTY TAXES
