Located in the Historic Tennis Club neighborhood next to Downtown Palm Springs, The Old Ranch Inn has been successfully operating as an 8-room Boutique Hotel. Increased revenue possible with a minimal improvement cost by adding 9th room, currently used as office space. Each room is unique, all with Kitchens/Kitchenettes to serve short term and long-term (28 days or more) guests. Hotel License will be transferred at time of sale. Transient Occupancy Tax (TOT) does not have to be paid on long term occupancies. Option to lease/rent all rooms long term is extremely valuable to remain profitable while complying with current short-term Hotel operating restrictions. All units individually metered to bill back to longer term guests. Most units have views of San Jacinto mountains and pool. Property has outdoor breakfast bar, bbq and entertainment area with firepit and room to add in ground outdoor spa. Great walking neighborhood close to shopping, dining, hiking and bike paths. On-site parking for each room. Room rates have been historically below market creating a perfect opportunity to increase revenue especially with the 9th room brought into service. Investment proforma attached.
Multi-familyProperty Type
1930Year Built
0.26 acresLot Size
$217Price/Sq.Ft.
Listed by Sandra Quinn•DRE #01391280• Berkshire Hathaway HomeServices California Properties
Listed by Scott Timberlake•DRE #01257645• Realty Trust
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Permits
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Style
Multi-Family (5+ Unit)
County
Riverside County
APN
513133014
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Last updated by owner on Jul 2, 2020.
R2
Limited Multiple-Family Residential Zone
The R-2 zone is intended to provide for the development of medium-density multiple-family residential uses.
Permitted uses
Include but are not limited to:
Day care facility
Housing-Single unit
Housing-Multiple units
Housing-Other
Hotel / motel
Jan 31, 2024 • Final
Building (residential) - photovoltaic
Install a solar photovoltaic system consisting of a 72 panel array.
Electrical
Solar
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Property details
Parking
Parking and Garage Information
Parking Spaces/Information: Total Uncovered/Assigned Spaces: 8.00
Parking Spaces/Information: Total Parking Spaces: 8.00
Parking Spaces/Information: Total Garage Spaces: 0.00
Parking Spaces/Information: Total Covered Spaces: 0.00
Parking Spaces/Information: Total Carport Spaces: 0.00