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312 Camino Monte
Palm Springs, CA 92262
Sold
Apartment Complex or Fully licensed boutique hotel close to the Uptown District. This Property (previous Hotel) has been closed since 2019, but fully operational. Currently licensed as a 10 room boutique hotel , with 12 rooms. Two are adjoining connecting suites. This Fee simple property sits next to the successful Descanso Hotel and is priced well with unlimited potential depending on the new owners vision. Center court swimming pool, in ground Spa and Sauna / Steam room. Most units have kitchens or kitchenettes. Could potentially be used as a compound or multi unit apartment building subject to city zoning approval. The room count for the hotel license is 10 due to the 10 parking stalls on site. Same would apply to apartment use yet all 12 units have a private bath and kitchen / kitchenette. See the attached pro forma, which includes projections based on other similar properties, in its current condition and following new owner renovations. Additional attachment for projections if operated as an Apartment building. Site plan / Room layout in Documents, as well. Alarms on property, do not go direct. Shown by appointment only please contact listing agent. Full solar, paid for no solar lease. The city of Palm Springs has a TOT Hotel rebate program over the next 10 years that could be a substantial savings estimated at $50,000 per year or more if qualified.
PROPERTY INFORMATION
| MLS # | 219091670PS | Lot Size | 17,424 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 2,395,000
Price Per SqFt: $ inf |
DOM | 676 Days |
| Address | 312 Camino Monte | Type | Residential Income |
| City | Palm Springs | Sq.Ft. | Sq. Ft. |
| Postal Code | 92262 | Garage | N/A |
| County | Riverside | Year Built | 1948 |
| Bed / Bath | 0 / 0 | Parking | 10 |
| Built In | 1948 | Status | Closed |
| Sold Date | 2023-05-15 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Has Fireplace | Yes |
| Fireplace Information | Gas, Living Room |
| Has Appliances | Yes |
| Kitchen Appliances | Water Heater |
| Has Heating | Yes |
| Heating Information | Natural Gas, Solar, Wall Furnace |
| Has Cooling | Yes |
| Cooling Information | Wall/Window Unit(s) |
| Flooring Information | Laminate, Tile |
| InteriorFeatures Information | Recessed Lighting |
| Has Spa | Yes |
| SpaDescription | In Ground, Private |
| SecuritySafety | Security Lights |
EXTERIOR FEATURES
| FoundationDetails | Slab |
| Roof | Flat |
| Has Pool | Yes |
| Pool | In Ground, Tile |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $2,555
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 05/15/2023 | Closed | $2,130,000 |
| 03/04/2023 | Closed | $2,395,000 |
| 03/03/2023 | Listed | $2,395,000 |
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Listing provided courtesy of Scott Timberlake, Realty Trust. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
