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Description

Major price reduction with excellent seller financing terms. Very nice 66 room hotel in beautiful downtown Palm Springs. Located on Indian Lease Land, owner now in process of extending lease to 53 years. Any offer may be written contingent on lease extension. Pool and spa in central courtyard. About 50% of rooms have pool view, 25% mountain view, remaining overlook landscaped adjacent courtyard. Lease is 8% of gross receipts per year, paid $1,000/month until 12th month, then payment of remainder. Land and building size, and year built are only estimates, no info shows in Riverside county tax records, will need to be verified by buyer. Seller will carry with 20% down payment at 8% fixed interest rate amortized 20 years, all due and payable in 7 years. World famous desert resort, Palm Springs CA is just 2 hours from both Los Angeles and San Diego. Excellent tourist trade. Building price details: $2,500,000.

Property Details

• Type: Hotel & Motel
• Status: Available
• Year Built: 1977
• Buildings: 1

Exterior Features

• Parking: Yes

Map Locations