Carol & Jay Starr | Debra Vollmer

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Listing provided courtesy of Compass - MLS#23262613MLS Provider

537 S Grenfall RoadPalm Springs, CA 92264

Multi-Family · 9 Beds · 3,604 Sq. ft. | 0.30 Acres

$2,250,000 Active

Overview

Time on Site:
219 days
Visits:
0

The Property is ideally located within the Warm Sands neighborhood and is within a 3-minute drive to the numerous restaurants, retail and nightlife offered in Downtown Palm Springs. Originally built in 1957, this distinctive 9-room, adult only hotel is set around a tranquil courtyard which features a crystalline salt water outdoor pool, relaxing jetted spa, and features a barbecue area. There are 4 different types of suites available, featuring full kitchens, kitchenettes, private patios, exterior seating areas and private living areas. The Property offers the savvy investor or user an opportunity to purchase a boutique hotel income producing Property with 9 room suites, in room kitchenettes, a fabulous courtyard with a pool and jacuzzi all surrounded by stunning mountain views.The Avance Hotel offers a luxurious experience for guests, with spacious rooms, premium bedding and top-notch amenities. With the popularity of Palm Springs as a tourist destination, the demand for high quality accommodations remains high, offering the discerning investor the opportunity to generate high occupancy rates and future returns.

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Facts & Features

  • Type Multi-Family
  • Sq. ft. 3,604
  • Price/Sq.ft. $624
  • Lot 0.30 Acres

General

Association/HOA
  • Association: No
Building Information
  • New Construction: No
  • Year Built: 1957
Location/Region
  • Country: US
  • County Or Parish: Riverside
  • MLS Area Major: 334 - South End Palm Springs
  • Subdivision Name: Warm Sands
General Information
  • Parcel Number: 508211002
  • Property Type: Residential Income
  • Senior Community: No
  • Special Listing Conditions: Standard
  • Zoning: R2

Interior

Beds/Baths
  • Bathrooms Full: 0
  • Bathrooms Half: 0
  • Bathrooms One Quarter: 0
  • Bathrooms Three Quarter: 0
  • Bathrooms Total: 9
  • Bedrooms Total: 9
Building Interior
  • Building Area Total: 3604.0
General Information
  • Appliances: Barbecue,Microwave,Refrigerator
  • Entry Level: 1
  • Levels: One
  • Living Area: 3604.0
  • Living Area Source: Assessor
  • Spa Features: In Ground
  • Spa: Yes
  • Stories: 1
  • Stories Total: 1

Exterior

Parking Information
  • Parking Features: Driveway,Guest
Lot Information
  • Lot Dimensions Source: Assessor
  • Lot Size Acres: 0.3
  • Lot Size Area: 13068.0
  • Lot Size Dimensions: 100x135
  • Lot Size Source: Assessor
  • Lot Size Square Feet: 13068.0
  • Lot Size Units: Square Feet
  • Number Of Buildings: 1
Building Exterior/Construction
  • Architectural Style: Mid-Century Modern
General Information
  • Number Of Units Total: 9
  • Pool Features: In Ground

Neighborhood

Palm Springs

Nestled at the base of the San Jacinto Mountains, the beautiful desert resort city of Palm Springs is an international destination for outdoor sport enthusiasts, Mid-Century architecture admirers, and fans of the glamour of Golden Era Hollywood. Palm Springs is located approximately 110 miles southeast of Los Angeles and 140 miles northeast of San Diego, making it an ideal distance for Southern California residents to escape for a quick getaway weekend or the perfect locale for a second home.
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Community

92264 (Palm Springs) Demographics
59
Median Age
400
Population Density (per sq. mile)
51%
College Educated
$60,318
Estimated Median Income
7,506
Estimated Total Home Owners
3,772
Estimated Total Renters
67% / 33%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

Elementary Schools
2
Public
Cahuilla Elementary
  • Grades: KG - 5
  • Enrollment: 483
4
Public
Cielo Vista Charter
  • Grades: KG - 8
  • Enrollment: 869
2
Public
Desert Learning Academy
  • Grades: KG - 12
  • Enrollment: 215
Middle Schools
4
Public
Cielo Vista Charter
  • Grades: KG - 8 /
  • Enrollment: 869
2
Public
Desert Learning Academy
  • Grades: KG - 12 /
  • Enrollment: 215
High Schools
2
Public
Desert Learning Academy
  • Grades: KG - 12 /
  • Enrollment: 215
School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

Monthly Cost

$
$ %
%
$
$
* Assumes 7.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.

Market Data

Based on the last 30 days in this zip code

$1,086,612
Median Sales Price
$564
Median Price per Square Foot
158
Properties Sold
162
New on Market
61
Average Days on Market
493
Properties for Sale
Calculations provided by Reliance Network