Located in the Historic Tennis Club neighborhood next to Downtown Palm Springs, The Old Ranch Inn has been successfully operating as an 8-room Boutique Hotel. Increased revenue possible with a minimal improvement cost by adding 9th room, currently used as office space. Each room is unique, all with Kitchens/Kitchenettes to serve short term and long-term (28 days or more) guests. Hotel License will be transferred at time of sale. Transient Occupancy Tax (TOT) does not have to be paid on long term occupancies. Option to lease/rent all rooms long term is extremely valuable to remain profitable while complying with current short-term Hotel operating restrictions. All units individually metered to bill back to longer term guests. Most units have views of San Jacinto mountains and pool. Property has outdoor breakfast bar, bbq and entertainment area with firepit and room to add in ground outdoor spa. Great walking neighborhood close to shopping, dining, hiking and bike paths. On-site parking for each room. Room rates have been historically below market creating a perfect opportunity to increase revenue especially with the 9th room brought into service. Investment proforma attached.
|DAYS ON MARKET||65||LAST UPDATED||3/31/2021|
|TRACT||Tennis Club||YEAR BUILT||1930|
|COMMUNITY||332 - Central Palm Springs||COUNTY||Riverside|
|STATUS||Sold||PROPERTY TYPE(S)||Residential Income|
|AMENITIES||Barbecue, Fire Pit|
|APPLIANCES||Electric Water Heater, Microwave, Refrigerator, Water Heater|
|AREA||332 - Central Palm Springs|
|GARAGE||On Street, Side by Side, Unassigned|
|INTERIOR||Beamed Ceilings, Track Lighting, Wet Bar|
|PARKING||On Street,Side By Side,Unassigned|
|POOL DESCRIPTION||Electric Heat,Gas Heat,In Ground,Private|
|STYLE||Contemporary, Ranch, Spanish|
TOTAL MONTHLY PAYMENT
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from CARETS as of 9/22/21 1:30 AM PDT. The information being provided by CRMLS & CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. 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.
This IDX solution is (c) Diverse Solutions 2021.
Save favorite listings, searches, and get the latest alerts
Save your favorite listings, searches, and receive the latest listing alerts