975 East Camino Parocela, Palm Springs

Located in the prime and sought-after Warm Sands area, in desirable South Palm Springs. This mid-century modern 5-unit garden style property has many possibilities. All 5 units will be delivered vacant and fully furnished upon closing. It can be run as a hotel, apartment building or live in one unit and rent out the rest. The City of Palm Springs has approved the property for conversion to a boutique hotel once specific upgrades are completed. Building permit and architectural plans to be transferred to the buyer upon closing. Currently the property is rented seasonally to snowbirds. There are no under market rents that you have to wait years to improve. Five units total, four 1bd/1ba and one 2bd/2ba. Detached front unit includes living room with fireplace, 1 bedroom + 1 bath, kitchen, dining area, private patio, and mountain views. Four additional units include three 1 bedroom + 1 bath units and one 2 bedroom + 2 bath unit. All four remaining units have living rooms, vintage Mid-Century Modern kitchens, breakfast bars, and dining areas. All overlook garden areas and most have private patios. Gated pool, spa, and patio area. Minutes to the many fine shops and restaurants in the downtown village area of Palm Springs. Included in the purchase price are all appliances, exterior patio furniture, interior furnishings, and household items. The perfect desert retreat! Buyer to co-operate with "possible" Seller's 1031 Tax Deferred Exchange at no cost to Buyer.

6 bedrooms,  6 bathrooms  | 3,764 Approximate Structural sq. ft. | 9,583 sq. ft. Lot per Tax Assessor

Offered at $1,795,000