Description
!!! PRICE REDUCTION!!! 9-unit luxury boutique hotel located in an upscale residential area 1.5 miles from down town Palm Springs. Every once in a while, an exceptional property comes along that a savvy investor will recognize as solid investment opportunity. Little Paradise Hotel consists of 9 guest rooms and the in-keeper suite. Close to 1 million dollars was spent in 2014-2015 to transform the former "Queen of Hearts to an absolute gem it is today. . In 2020, while closed due to Covid-19 restrictions, it underwent major facelift. Post Covid recovery has exceeded expectations. YTD bookings are in excess of 400K to an estimated 683K target year booking revenue***Offered at $4,695,000, *** SGI $682,500, ***NOI $357,827, ***CAP 7.62%.
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0BEDS
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0.39ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
!!! PRICE REDUCTION!!! 9-unit luxury boutique hotel located in an upscale residential area 1.5 miles from down town Palm Springs. Every once in a while, an exceptional property comes along that a savvy investor will recognize as solid investment opportunity. Little Paradise Hotel consists of 9 guest rooms and the in-keeper suite. Close to 1 million dollars was spent in 2014-2015 to transform the former "Queen of Hearts to an absolute gem it is today. . In 2020, while closed due to Covid-19 restrictions, it underwent major facelift. Post Covid recovery has exceeded expectations. YTD bookings are in excess of 400K to an estimated 683K target year booking revenue***Offered at $4,695,000, *** SGI $682,500, ***NOI $357,827, ***CAP 7.62%.
Based on information from CRISNet MLS as of 2022-05-21T19:56:50.843. 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.
The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, 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 web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.
Based on information from the i-Tech MLS as of 2022-05-21T19:56:50.843. 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.