120 W Vereda Sur - Hospitality FOR SALE


Palm Springs, CA 92262
$5,500,000 USD
714-345-7610
120 W Vereda Sur, Palm Springs, CA for Sale
$5,500,000 USD
Hospitality - FOR SALE
1/41
null | Request Cap Rate

120 W Vereda Sur
Palm Springs, CA 92262


HIGHLIGHTS

  • Boutique/Lifestyle Hotel

OVERVIEW

Step inside an Old Hollywood oasis located in the center of Old Las Palmas neighborhood in Palm Springs. Just steps away from the homes of the iconic celebrities who lived and played in Palm Springs. This boutique hotel was designed by the famous Herbert Burns in 1950 and it has 10 uniquely curated rooms representing old Hollywood, styled by the renowned interior designer David Rios. Voted best new boutique Hotels to visit in Palm Springs by Forbes magazine 2024 and boasts five star reviews on all platforms. This resort has all the amenities one could want on a vacation. Each suite has a living room, kitchenette and custom designed headboard themed specifically to the design elements of the room. Over sized pool with heating option is perfect for all season, for guests to escape the heat of the summer or take a refreshing plunge in the winter, while the tucked away separate spa with jets is perfect for chilly nights. Whether using a private Cabana or taking advantage of the oversized comfortable day beds guests will be in paradise. This hotel has by far the most breathtaking unobstructed views of the mountains and sunset. Centrally located right off of the main canyon, guests can shop, dine, hike, or simply just go for a walk around the star studded neighborhood all just minutes away. Host a wedding, birthday, anniversary or any special event here. The property is spacious enough to set up large events as well as guests can enjoy the lounge as they step into the 1930s speakeasy. With plenty of seating and luxurious details, one can’t help but to feel over the top. With over $1.7 million in upgrades this hotel is ready to make any investor a great return.

FOR SALE DETAILS

PRICE

$5,500,000 USD

PRICE/SF

$1,038 USD /SF

# OF ROOMS

9

PRICE/ROOM

$611,111 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Velvet Rope

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1953

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

R2

APN/PARCEL ID

505-221-008

ASK ABOUT THIS PROPERTY

David RioseXp Realty of Southern CaliforniaMore Info
714-345-7610

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David RioseXp Realty of Southern CaliforniaMore Info
714-345-7610

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.