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TRANSCRIPT
Investment Opportunity
C O N F I D E N T I A L O F F E R I N G M E M O R A N D U M
FOR SALE
Palm Springs AN UPTOWN HOTEL AND RESORT
1983 N Palm Canyon Dr, Palm Springs, CA 92262
C O N T E N T S
C O N T E N T SEXECUTIVE SUMMARYIntroductionInvestment Highlights
PROPERTY OVERVIEWProperty DetailsProperty Site PlanGallery
MARKET OVERVIEWPalm Springs Overview
ECONOMIC ANALYSISProforma
C O N F I D E N T I A L O F F E R I N G M E M O R A N D U M
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The information above has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
MICHAEL KASSINGERSenior Vice [email protected] 01213797
REPRESENTED BY
LUCA [email protected] 02037333
SCOTT TIMBERLAKERealtor/[email protected] 01257645
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+- 4.2 ACRES 107 ROOM | DAYS INN HOTEL AT $11,850,000 IN PALM SPRINGS, CA
Realty Trust is pleased to present the opportunity to acquire over 4 acres of fee simple land located at 1983 North Palm Canyon, Palm Springs, CA (the “Property”), a charming desert oasis hotel with ample parking. The property features 107 rooms with picturesque panoramic views, 3,200 SF of meeting space and a free standing 5,000 SF restaurant.
The property is located on Palm Canyon Drive, one mile from downtown and the Palm Springs Convention Center. Less than two miles from the heart of Palm Springs, Convention Center, airport and most known touristic attractions.
The Days Inn Palm Springs is known for its Mid-Century architectural details and history. This is a great investment opportunity to take this Inn to a new “vibe”. The size of the land, the abundance of parking spaces, the oversized pool & spa and the restaurant are just some of the amenities that showcase this property’s potential.
INVESTMENT HIGHLIGHTS
• Located on the famous Highway 111 in Palm Springs
• Located 1.8 miles from the heart of downtown Palm Springs
• Mid-century Architectural Details
• Turn Key Investment Opportunity
• Meeting Space (3,200 SF) and free standing Restaurant (5,000SF)
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PRICE: $11,850,000 PROPERTY TYPE: HotelYEAR BUILT: 1950’- NO. STORIES: 2NO. UNITS: 107SALE TYPE: Investment ZONING DESCRIPTION: C-1LOT SIZE: 4.2 AC APN / PARCEL ID: 504-310-033
Downtown
1083 North Palm Canyon
Uptown
PALM SPRINGS
PROPERTY DETAILS
1983 NORTH PALM CANYON
HISTORIC ARCHITECTURE
An Oasis in the DesertINVESTMENT OPPORTUNITY
TAX MAP
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SITE PLAN
G A L L E R Y
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• Palm Springs is back... The city is welcoming visitors from all over the world to its new dynamic downtown with cutting edge hotels, an eclectic food and drink scene, chic shopping and, new entertainment venues as well as welcoming public spaces for gathering, celebrating and relaxing.
• With the warm days and comfortable nights, this ambiance is seductive. With 360 days of sun-kissed weather and drop-dead gorgeous scenery, Palm Springs is like no place else and a comeback as Hollywood’s playground with a growing nightlife, burgeoning art scene and edgy vibe.
• It could be the surge of super hip (and becoming super large) events like the Palm Springs International Film Festival, Modernism Week, and Coachella and Stagecoach Music Festivals. Or the openings of incredibly unique museums such as the Architecture and Design Center in downtown Palm Springs.
• Today, there is a thriving gay community and endless outdoor activities. Palm Springs is also home to one of the largest collections of Mid-century Modern architecture in the world.
• Palm Springs is located approximately 107 mi east of Los Angeles, 123 mi northeast of San Diego, and 268 mi west of Phoenix, Arizona. The population was 44,552 as of the 2010 census. Palm Springs covers approximately 94 square miles, making it the largest city in the county by land area.
• Palm Springs has more than 350 days of sunshine with less than 5 inches of rain. Winter temperatures average in the 70’s with nights in the mid-40’s. The dry desert heat of summer pushes daytime temperatures into the 100’s, which is enjoyed by sun seekers from around the globe.
• The geography of Palm Springs is what creates the famed warm, dry climate. At 487 feet above sea level, Palm Springs is sheltered by the Little San Bernardino Mountains to the north, the Santa Rosa Mountains on the south, and the San Jacinto Mountains to the west.
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NEARBY ATTRACTIONS
REPRESENTED BY
MICHAEL KASSINGERSenior Vice [email protected] 01213797
LUCA [email protected] 02037333
SCOTT TIMBERLAKERealtor/[email protected] 01257645