1777 N Palm Canyon Dr - Hospitality FOR SALE


Palm Springs, CA 92262
$5,100,000 USD
949-759-8739
1777 N Palm Canyon Dr, Palm Springs, CA for Sale
$5,100,000 USD
Hospitality - FOR SALE
1/21
null | 7.5% Cap Rate

1777 N Palm Canyon Dr
Palm Springs, CA 92262


HIGHLIGHTS

  • Excellent condition, fully renovated physical plant following $1.5 million renovation in 2022
  • Very strong Palm Springs boutique market
  • Great location, walking distance to Uptown Design District and some of Palm Springs' best restaurants
  • Favorable size and design for full-property event buy-outs (Coachella, Stage Coach, weddings, private/corp functions, etc)
  • Not yet stabilized, opportunity to add value through steady management and marketing
  • Private parking, entire site is commercially zoned (C1) and fee simple

OVERVIEW

Opportunity to purchase a fully renovated boutique hotel along N. Palm Canyon Drive in one of Southern California's premier boutique hotel markets. Following a comprehensive renovation in 2022, the property launched a soft opening in early 2023 and is still in process of ramping up and positioning itself within the market. Significant neighborhood improvements and developments are underway. Cap rate is based on Proforma from recent appraisal. Recent personal events triggering a sale.

FOR SALE DETAILS

PRICE

$5,100,000 USD

PRICE/SF

$1,057 USD /SF

# OF ROOMS

15

PRICE/ROOM

$340,000 {currency}

CAP RATE

7.5%

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mahala

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

B

YEAR BUILT

1957

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.55 AC

LAND SF

23,958 SF

ZONING

C1, Palm Springs

APN/PARCEL ID

504-310-013

ASK ABOUT THIS PROPERTY

Harry PfluegerMaxim Hotel BrokerageMore Info
949-759-8739

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Harry PfluegerMaxim Hotel BrokerageMore Info
949-759-8739

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