Views
Address
220 S Patencio Road Palm Springs, CA
Price
$ 2,400,000
Property Attributes
  • MLS#219047996PS
  • TypeIncome
  • CountyRIVERSIDE
  • CityPalm Springs
  • AreaCentral Palm Springs
  • NeighborhoodTennis Club
  • Zip92262
  • StyleContemporary,Ranch,Spanish
  • Price$ 2,400,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size11,326 SqFt
Listing Provided Courtesy Of:
Sandra Quinn with Berkshire Hathaway HomeServices California Properties.
Property Description

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.

Price History
8/19/2020 Listed $2,400,000

General Features

Appliances Microwave, Refrigerator, Electric Water Heater, Water Heater
Architectural Style Contemporary, Ranch, Spanish
Association Amenities Barbecue, Fire Pit
Attached Structure Detached
Carport Spaces 0.00
Co-Listing Agent Last Name Timberlake
Co-Listing Agent Last Name Scott
Co-Listing Agent State License # 01257645
Co-listing Agent Scott Timberlake - BRE#01257645
Cooling Electric
Directions From Hwy 111 turn west onto W. Arenas Rd and head towards mountain. Turn left on Patencio. Hotel is on left.
Flooring Carpet, Tile
Garage Spaces 0.00
Heating Central, Zoned
Interior Features Beamed Ceilings, Track Lighting, Wet Bar
Listagentaor Palm Springs
Listing Agent Sandra Quinn - BRE#01391280
Listing Agent State License 01391280
MLS Area 332 - Central Palm Springs
Parking Features Street, Side by Side, Unassigned
Pool Features Gas Heat, Electric Heat, Private, In Ground
Private Pool Yes
PropertyCondition Updated/Remodeled
Roof Clay, Tar/Gravel
Security Features Security Lights
Source System CRMLS
Special Listing Conditions Standard
Subdivision Name Tennis Club
Subdivision Name Tennis Club
Total Units 9
View Mountain(s)

Interior Features

Air Conditioning Y/N Yes
Appliances Y/N Yes
Fireplace Features Fire Pit, Gas, Living Room, See Remarks
Fireplace Y/N Yes
Heating Y/N Yes
Refrigerator Count 9
Room Type Entry, Living Room
Total Stories 1

Exterior Features

Foundation Details Slab
Lot Features Landscaped
Lot Size Acres 0.2600
Lot Size Area 0.2600
Lot Size Source Assessor
Lot Size Square Feet 11325.60
Lot Size Units Acres
Number of Buildings 1
Number of Separate Electric Meters 9
Number of Separate Gas Meters 1
Number of Separate Water Meters 1
Parking Y/N Yes
Total Parking 8.00
Uncovered Spaces 8.00

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 92262

Price
AVG $1.72M
$2.4M
Visits
AVG 44
88
Year Built
AVG 1958
1930
Walkscore
AVG 54
46
Data Provided by Walkscore ® not using MLS data

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