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Palm Springs Manor 486 E Mel Ave 16 Room Hotel Palm Springs, CA 92262 $4,300,000 ($268,750/Room)
Investment Highlights
- Prime Palm Springs Location: Adjacent to Desert Regional Medical Center and less than one mile from downtown attractions.
- Immediate Income: Currently generating steady income with strong occupancy history.
- Attractive Seller Financing Available: Flexible financing terms offered to qualified buyers.
- 17-Unit Boutique Hotel: Includes additional standalone owner’s single-family residence offering flexibility.
- Significant Value-Add Potential: Opportunities exist to increase revenue through renovations or repositioning.
- Exceptional Amenities: Property features clubhouse with high-end kitchen, pool, private garage, and gated security.
Executive Summary
Coldwell Banker Commercial Lyle & Associates, is pleased to offer for sale the fee simple interest in The Palm Springs Manor, a 16-unit hotel complex with an additional standalone single-family residence/owner unit on its own separate contiguous parcel, located in Palm Springs California. Originally constructed in 1950, the property consists of fourteen studio units, two one-bedroom units, one standalone single-family unit, a large onsite clubhouse with a pool, and a detached garage. The entire property is impressively furnished with beautiful antiques, which are included in the purchase price.
Property Facts
| Price | $4,300,000 | Building Size | 10,227 SF |
| Price Per Room | $268,750 | No. Rooms | 16 |
| Sale Type | Investment | No. Stories | 1 |
| Property Type | Hospitality | Year Built | 1950 |
| Property Subtype | Hotel | Parking Ratio | 1.08/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 0.72 AC | ||
| Zoning | R2 - Residential | ||
| Price | $4,300,000 |
| Price Per Room | $268,750 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.72 AC |
| Building Size | 10,227 SF |
| No. Rooms | 16 |
| No. Stories | 1 |
| Year Built | 1950 |
| Parking Ratio | 1.08/1,000 SF |
| Corridor | Exterior |
| Zoning | R2 - Residential |
Amenities
- High Speed Internet Access
- Public Access Wifi
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 16 | $122.00 | - |
1 1
Property Taxes
| Parcel Numbers | Improvements Assessment | $492,499 | |
| Land Assessment | $224,588 | Total Assessment | $717,087 |
Property Taxes
Parcel Numbers
Land Assessment
$224,588
Improvements Assessment
$492,499
Total Assessment
$717,087
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Palm Springs Manor | 486 E Mel Ave
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