1533 N Chaparral Rd - Hospitality FOR SALE


Palm Springs, CA 92262
$6,290,000 USD
760-408-8874
1533 N Chaparral Rd, Palm Springs, CA for Sale
$6,290,000 USD
Hospitality - FOR SALE
1/70
null | Request Cap Rate

1533 N Chaparral Rd
Palm Springs, CA 92262


HIGHLIGHTS

  • Incredible grounds with opportunity for expansion.
  • Operates with experienced staff of Five full-time employees bolstered by additional part time staff and over 17-year absentee owner
  • 22 hotel rooms renovated in 2020; 11 courtyard rooms renovated 2016; 5 suites with kitchenettes
  • 192 solar panels installed in 2016 (owned)
  • Full liquor license

OVERVIEW

The Desert Sun Resort is a 33-room resort sitting on 1.67 acres of manicured grounds, featuring two full-size and heated pools, jacuzzi, bar/cafè (seats 50), lighted tennis court, spa (two-room), gift shop, two fire pits, loggia, green event lawns, and water features. Highly rated with great historical occupancy and produces significant cash-flow. Room Renovations in 2016 and 2020. 11 courtyard rooms completed, and 192 full paid for solar panels installed in 2016. Still needs an update from nude to non-nude. With a full liquor license and a full service restaurant on-site, a new operator has significant alternative cash-flow opportunities independent of room revenue, which is highly sought after and rarely available in a large specialty property like this. Ample parking along three sides of the property, rarely available to hospitality properties within this proximity to Downtown. Within walking distance of local retail stores, shopping plazas, restaurants, bars, and plenty of nightlife in a revitalized Downtown Palm Springs.

FOR SALE DETAILS

PRICE

$6,290,000 USD

PRICE/SF

$286 USD /SF

# OF ROOMS

33

PRICE/ROOM

$190,606 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Desert Sun Resort

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

B

YEAR BUILT

1960

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1.67 AC

LAND SF

72,745 SF

ZONING

3

APN/PARCEL ID

507-024-020,507-024-025

ASK ABOUT THIS PROPERTY

Adam GilbertThe Firm BrokerageMore Info
760-408-8874

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Adam GilbertThe Firm BrokerageMore Info
760-408-8874

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