azure sky palm springs, ca · azure sky palm springs i page !4 investment highlights maxim hotel...

Azure Sky Palm Springs I Page !1

Azure Sky Palm Springs, CA

Boutique Hotel Conversion Opportunity

1661 S. Calle Palo Fierro 14 Large Units (Studios, 1-Bedrooms)

Hotel License in Place

Large Private Patios

Resort Style Pool

Sweeping Panoramic Views

Mid-Century Architecture

Tahquitz River Estates Neighborhood

Nestled Among Palm Springs’ Top Boutique Hotels

For Sale $3,000,000

EXECUTIVE SUMMARY FEBRUARY, 2020

EXCLUSIVE AGENT Maxim Hotel Brokerage, Inc. Harry Pflueger 1303 Avocado Ave., Suite 225 (949) 759-8739 Newport Beach, CA 92660 [email protected] CA License #01361118 www.maxim-hb.com

http://www.maxim-hb.com

http://www.maxim-hb.com


Currently shut down and vacated

Previously a timeshare property, title is now clear

Property has a Business License to operate as a

hotel or apartment

Built in the 1959/1960, the property features desirable and authentic mid-century

architecture.

Previously operated as a hotel, multi-family and

timeshare

Within two hours from most of Southern California’s

population of 22.4 million

Excellent potential for boutique portfolio centerpiece, or an

innkeeper/proprietor

Strong, desirable Palm Springs market

Attractive pool and sun deck with sweeping,

protected mountain views

Second open courtyard for addition of amenities


Main Courtyard


INVESTMENT HIGHLIGHTS

Maxim Hotel Brokerage, Inc. is pleased to present for sale the 14-unit Azure Sky Resort located at 1661 S Calle Palo Fierro, Palm Springs, CA 92264, an opportunity to acquire, renovate and position a boutique hotel in one of the nation’s most inspired markets for lifestyle and design oriented hotels.

OVERVIEW

Please consider the following investment highlights:

• Tahquitz River Estates Location - The location is just north of E. Palm Canyon in the south section of Palm Springs. Neighboring hotels include Ace, Horizon, Sparrows, Villa Royale and V Palm Springs.

• Large Units- Unlike typical guestrooms, each unit is spacious, typically including a living area and private outdoor patio area.

• Lobby Area Potential - A large interior space adjacent to the entry could be renovated to a large owner’s suite, lobby area, or common hotel living area with kitchen.

• Expansive Protected Views - Adjacent to the west is a cul del sac which will never be developed.

• Strong Boutique Market - The small boutique hotel market in Palm Springs generated average occupancy of 71% with average daily rate of $258 for trailing-12-months through September, 2019, according to data from Smith Travel Research.

Maxim Hotel Brokerage – Harry Pflueger (949) 759-8739

Typical Unit




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SOUTH PALM SPRINGS BOUTIQUE HOTEL MAP




Subject




Property Summary

Address 1661 S Calle Palo Fierro, Palm Springs, CA 92264

Built est. 1959/1960

Site 0.74 acre, APN 508-353-034, Parcels 1 & 2

Interest Fee simple

Units 14 units

Amenities Swimming Pool, 2 Pickleball Courts

Parking 22 parking spaces

Gross Building Area 7,581 SF

azure sky palm springs, ca · azure sky palm springs i page !4 investment highlights maxim hotel...

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