975 E Camino Parocela
Palm Springs, CA 92264
$100,000.00 (-5.28%)
Active for $1,795,000
Beds: 6 Baths: 6 Structure Size: 3,764 sqft Lot Size: 9,583 sqft
| MLS | 24421577 |
| Year Built | 1957 |
| Property Type | |
| County | Riverside |
| Status | Active |
| Active | $1,795,000 |
| Structure Size | 3,764 sqft |
| Lot Size | 9,583 sqft |
| Beds | 6 |
| Baths | 6 |
Description
Located in the prime and sought-after Warm Sands area, in desirable South Palm Springs. This mid-century modern 5-unit garden style property has many possibilities. All 5 units will be delivered vacant and fully furnished upon closing. It can be run as a hotel, apartment building or live in one unit and rent out the rest. The City of Palm Springs has approved the property for conversion to a boutique hotel once specific upgrades are completed. Building permit and architectural plans to be transferred to the buyer upon closing. Currently the property is rented seasonally to snowbirds. There are no under market rents that you have to wait years to improve. Five units total, four 1bd/1ba and one 2bd/2ba. Detached front unit includes living room with fireplace, 1 bedroom + 1 bath, kitchen, dining area, private patio, and mountain views. Four additional units include three 1 bedroom + 1 bath units and one 2 bedroom + 2 bath unit. All four remaining units have living rooms, vintage Mid-Century Modern kitchens, breakfast bars, and dining areas. All overlook garden areas and most have private patios. Gated pool, spa, and patio area. Minutes to the many fine shops and restaurants in the downtown village area of Palm Springs. Included in the purchase price are all appliances, exterior patio furniture, interior furnishings, and household items. The perfect desert retreat! Buyer to co-operate with "possible" Seller's 1031 Tax Deferred Exchange at no cost to Buyer. Broker, Broker's Agents, & Sellers do not represent and/or guarantee the accuracy of the square footage, permitted or unpermitted space, bedroom/bath count, lot size/dimensions, schools, or any other information concerning the conditions or features of the property & surrounding area, including property income. Buyer is advised to independently verify the accuracy of all information through personal inspection and/or investigation with appropriate professionals to satisfy themselves regarding all material issues of the subject property etc.
Listing information courtesy of: Rick Chimienti, Berkshire Hathaway HomeServices California Properties 310-777-2810. *Based on information from the Association of REALTORS/Multiple Listing as of 11/22/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.
Location
Contact a Local Realtor®
Sipan Movsesyan
REALTOR®
Direct: 818.696.3110
Email: Email Me
DRE: 02155003
DRE #01873088
.png){kind=small}