411 E Palm Canyon Dr
- Iconic 92-Room Boutique Resort
- Value-Add Investment Opportunity
- Significant RevPar & ADR Growth Opportunity!
Property Description
- Prime Palm Springs Location: Located in the heart of Palm Springs, the property benefits from strong tourism demand, walkability, and proximity to major hotels, restaurants, and entertainment destinations. - Boutique Resort Asset: This 92-room hotel featuring a diverse mix of guest rooms and suites, offering a unique, low-rise resort-style layout consistent with Palm Springs hospitality trends. - Value-Add Opportunity: Opportunity to increase revenue through ADR growth, operational efficiencies, and repositioning to align with higher-performing boutique and lifestyle hotel concepts. - Proven Operating History: The property demonstrates consistent revenue generation with strong seasonal performance and established market presence. - ADR Growth Potential: Historical performance supports the ability to push room rates during peak demand periods, with additional upside through professional revenue management strategies. - Strong Tourism Market Fundamentals: Palm Springs continues to experience strong tourism, event-driven demand, and limited new supply, supporting long-term hospitality investment fundamentals. - Repositioning & Branding Upside: Opportunity for a new owner to implement branding, renovations, or concept upgrades to capture higher market share and increase overall asset value. - Long-Term Leased Land Structure: Typical Palm Springs leased land structure with remaining term in place, providing a known and underwritten expense component.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Hospitality |
| Price: | $7,750,000 |
| No. of Units: | 93 |
| Year Built: | 1962 |
| Lot Size: | 2.73 Acres |
| Opportunity Zone: | No |
| Price per unit: | $83,333 |
| Property Website | Click Here |
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout