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1544 Chaparral, Palm Springs CA 92262 | $8,800,000

Status: Active
  • 0 bedrooms
  • 0 bathrooms
  • 0 Sq Ft
  • 0 Lot Sq Ft
  • Type:
  • Stories: 0
  • Year Built: 1960
  • MLS#: 219067341PS
  • Community: 332 - Central Palm Springs

Listing provided courtesy of Scott Lyle of Compass. Last updated 2021-10-20 08:26:22.000000. Listing information © 2021 CRMLS.

Great Income Property in Downtown Palm Springs with 10 CAP! Desert Sun Resort is a 33-room hotel resort sitting on a large 1.6 acres of beautifully manicured grounds property: Two (2) large pools, jacuzzi, bar/cafe, lighted tennis court, free-standing spa studio, fitness facility, two firepits, loggia, luscious green lawn areas, and soothing water features, The Cafe (seats 50), Gift Shop, and three-room Spa are all part of the resort's amenities to enhance the guest experience and increase operating income. Currently Desert Sun Resort operates with an experienced staff (20 employees). This property has run efficiently without a ''hands-on'' owner for over 14 years. All 33 rooms were completely renovated in 2020 (11 courtyard rooms completed in 2016). There are five suites with kitchens, or kitchenettes. 170 solar panels were installed on the roof (100% paid for/no lease) in 2016. All panels are located on the rooftop of the hotel building and are still under the 20-year warranty. Desert Sun Resort has a full liquor license. The liquor license transfers with the sale of the property. The period August 2020 thru July 2021 the NOI is at $888,000 with an ADR of $214, a REVPAR of $105 and almost a 40% profit margin. When reviewing the past 48 months and removing the COVID period of March 2020 to February 2021, the property has consistently performed well yielding approximately $785,000 NOI with an ADR of approximately $200. Occupancy is averagi

More Details

Parking Spots: 40.00
Business Type: Hospitality
Asset Class: Hotel/Motel
Electricity Connected
Heating: Forced Air
Heating: Wall Furnace

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