UNDER CONTRACT1 ACRE
588 E San Lorenzo Rd
Palm Springs, CA 92264
Tahquitz River Estates
25 Beds
25 Baths
12,164 sqft (on 1 acre)
- 25 Beds
- 25 Baths
- 12,164 sqft (on 1 acre)
25 Beds
25 Baths
12,164 sqft
(on 1 acre)
Local Information
© Google
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Commute Destination
Description
PALM SPRINGS HOTEL: Extremely rare Palm Springs hotel opportunity with a total of 25 bedrooms - 12 units each with their own Kitchen and Laundry. Manager's Office/Lobby, community bathroom and 3 cabana locations. Eleven units are 2 bedroom and 2 bath and one is a 3/3 Penthouse. Situated in the highly desirable neighborhood connecting Central and South Palm Springs next to the recently completed Cody Place, where units sell over $1M. Just a block east of South Palm Canyon Drive, the location offers easy access to shopping, dining, entertainment, and medical facilities near historic Downtown Palm Springs. Featuring gated controlled access, ample parking, a luxurious pool and spa, koi pond, private patio/BBQ area, and an open courtyard, the property provides a perfect blend of comfort and entertainment. Modern amenities such as keyless entry, plank and carpet flooring, stainless steel appliances, and central air conditioning enhance the living experience. Besides as a hotel, there is also an ability to condo map the building and sell off as condos at a later date for a significant return. Whether you're a first-time purchaser, seasoned investor, or considering a 1031 exchange, 588 E San Lorenzo Road stands as a prime income-producing investment in the thriving Palm Springs real estate market. Current loan is assumable at rate of 4.75%.
Home Highlights
Parking
12 Open Spaces
Outdoor
Pool
A/C
Heating & Cooling
HOA
None
Price/Sqft
$345
Listed
91 days ago
Home Details for 588 E San Lorenzo Rd
Interior Features |
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Beds & Baths Number of Bedrooms: 25Number of Bathrooms: 25 |
Dimensions and Layout Living Area: 12164 Square Feet |
Appliances & Utilities Appliances: Range/Oven, Refrigerator, Freezer, Barbeque, Dryer, Washer, MicrowaveDryerLaundry: In UnitMicrowaveRefrigeratorWasher |
Heating & Cooling Heating: CentralHas CoolingAir Conditioning: Central AirHas HeatingHeating Fuel: Central |
Fireplace & Spa Fireplace: NoneSpa: In GroundNo Fireplace |
Levels, Entrance, & Accessibility Stories: 2Levels: TwoEntry Location: Main Level |
View Has a ViewView: Desert, Mountain(s) |
Security Security: Gated Community, Automatic Gate, Secured Community, Gated, Gated Community with Guard |
Exterior Features |
|---|
Exterior Home Features Other Structures: CabanaExterior: Barbecue, Balcony |
Parking & Garage Number of Carport Spaces: 12Number of Covered Spaces: 12Open Parking Spaces: 12No CarportNo GarageNo Attached GarageHas Open ParkingParking Spaces: 24Parking: Assigned |
Pool Pool: In GroundPool |
Frontage Waterfront: NoneFrontage Type: Desert FrontNot on Waterfront |
Days on Market |
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Days on Market: 91 |
Property Information |
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Year Built Year Built: 2012 |
Property Type / Style Property Type: Residential IncomeProperty Subtype: Multi Family |
Building Building: Koi Pond, Sprinkler System |
Price & Status |
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Price List Price: $4,195,000Price Per Sqft: $345 |
Status Change & Dates Off Market Date: Wed Mar 13 2024 |
Active Status |
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MLS Status: Active Under Contract |
Location |
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Direction & Address City: Palm Springs |
Agent Information |
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Listing Agent Listing ID: 24-351718 |
Building |
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Building Area Building Area: 12164 Square Feet |
Lot Information |
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Lot Area: 1 Acres |
Listing Info |
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Special Conditions: Standard |
Compensation |
|---|
Buyer Agency Commission: 2.00Buyer Agency Commission Type: % |
Notes The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed |
Rental |
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No Rent Control |
Miscellaneous |
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Mls Number: 24-351718Zillow Contingency Status: Under Contract |
Last check for updates: about 17 hours ago
Listing courtesy of Eric Lavey DRE # 01511292, (310) 908-6800
Sotheby's International Realty, (310) 724-7000
John & Ryan Group DRE # 01415106, (760) 409-0129
Sotheby's International Realty, (310) 724-7000
Source: CLAW, MLS#24-351718
Price History for 588 E San Lorenzo Rd
| Date | Price | Event | Source |
|---|---|---|---|
| 03/28/2024 | $4,195,000 | Contingent | CLAW #24-351718 |
| 01/26/2024 | $4,195,000 | Listed For Sale | CLAW #24-351718 |
| 01/04/2024 | $4,250,000 | ListingRemoved | CRMLS #CV23154402 |
| 11/30/2023 | $4,250,000 | PendingToActive | CRMLS #CV23154402 |
| 10/26/2023 | $5,200,000 | Contingent | CRMLS #CV23154402 |
| 08/17/2023 | $5,200,000 | Listed For Sale | CRMLS #CV23154402 |
| 11/30/2015 | $3,255,000 | Sold | Palm Springs Regional AOR #15937269 |
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Comparable Sales for 588 E San Lorenzo Rd
Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
0.43 | Multi-Family Home | $4,000,000 | 01/22/24 | 26 | 30 | 15,973 | |
0.48 | Multi-Family Home | $1,420,000 | 12/29/23 | 2 | 4 | 2,174 | |
0.41 | Multi-Family Home | $825,000 | 09/18/23 | 4 | 3 | 1,700 | |
0.27 | Multi-Family Home | $679,000 | 12/15/23 | 2 | 2 | 1,150 | |
0.43 | Multi-Family Home | $1,400,000 | 12/29/23 | - | - | ||
0.70 | Multi-Family Home | $685,000 | 02/20/24 | 4 | 2 | 1,528 | |
0.36 | Multi-Family Home | $810,000 | 08/24/23 | - | - | ||
1.86 | Multi-Family Home | $2,000,000 | 07/26/23 | 9 | 9 | 7,000 | |
0.69 | Multi-Family Home | $600,000 | 02/14/24 | - | - |
Neighborhood Overview
Neighborhood stats provided by third party data sources.
What Locals Say about Tahquitz River Estates
- Q66yxsywc9
- Resident
- 3mo ago
"It’s beautiful and peaceful. Great walking for my dog. I always meet friendly people when walking my dog"
- Q66yxsywc9
- Resident
- 4mo ago
"I’ve lived here for 5 years and I love it. It’s pretty. Everyone takes pride in their homes. Dog friendly neighbors."
- Mahalokoka
- Resident
- 3y ago
"Everyone has a dog around here. We all walk the riverbed and trails with our dogs. Everyone is really responsible for picking up as well"
- Mahalokoka
- Resident
- 3y ago
"We have no sidewalks and people use landscaping lights in their yards. It’s beautiful. The closer you live to the mountain or riverbed the more wildlife you see. Squirrels,coyotes,raccoons,skunks,birds frogs "
- Mahalokoka
- Resident
- 3y ago
"Everything is basically down the street. I can walk if I need to. I only drive to get to work which is up the Tram road."
- Elizabeth.arnoldkung
- Visitor
- 4y ago
"Art festivals. Food festivals. Music festivals. Block parties During holidays. It’s a lot of fun And people Emjoynrhemeleve s has "
- Mahalokoka
- Resident
- 4y ago
"Very nice quiet, well maintained neighbourhood. I love living here. Everyone takes pride in their homes."
- Susan R.
- Resident
- 5y ago
"It’s a great neighborhood for dogs. Dog owners love to stop and greet each other. It’s a quiet safe place to walk. "
- Lovemeshayer
- Resident
- 5y ago
"love the people and trail, very close to downtown I can walk there and I feel very safe. it is a great area to love in with dog lovers and people riding their bikes. it's a wonderful experience for tourists. "
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
Eric Lavey, Sotheby's International Realty
© 2024 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW as of 2024-01-24 14:45:40 PST. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
588 E San Lorenzo Rd, Palm Springs, CA 92264 is a 25 bedroom, 25 bathroom, 12,164 sqft multi-family built in 2012. 588 E San Lorenzo Rd is located in Tahquitz River Estates, Palm Springs. This property is currently available for sale and was listed by CLAW on Jan 26, 2024. The MLS # for this home is MLS# 24-351718.