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Terra
Cotta Inn
Property Info
$3,100,000.00
2388 E. Raquet Club Rd
Palm Springs, CA 92262
* Shown By Broker Appointment
Description:
Fabulous mid-century modern famous 17 room hotel, built by famous
architect, and featured in Palm Springs nostalgia books as well
as recently featured on "Ulitmate Hotels".
Outstanding currently nudist resort hotel, boasts wonderful
architecturally interesting buoildings and beautifl landscaping,
graciously appointed accomodations along wih a complete range
of amenities to ensure the most enjoyable vacation. Terrific
1800 sq ft owner's unit plus 10 room and 7 large suites all
inividually styled with patios and some with kitchens. Price
includes adjoing 11,000 SF lot with SFR, 3 br 2 bath. Noot only
does the property look great but it is a financial performer. |
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PropertyType Hotel/Motel
MLS# Loop Net
Year Built 1960
No. of Rooms 17
Building size 9,000 sq ft
Lot Size 1 acre
Price/Room $182
Cap Rate 17%
Cash on Cash 37%
Pool yes
Spa yes
Mineral Hot Springs no
Gross Income Proforma $776,414
Total Operating Expenses $325,047
Net Operating Income $451,367 |
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Financial:
Lease is 8% of gross receipts per year, paid $1,000 per month
until 12th month, then remainder is paid. For additional financial
information please print Confidentiality Agreement and fax to
(760) 322-9266 |
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This
information, while not guaranteed, has been obtained from sources
deemed reliable.
Buyer must verify the information and bears all risks for any
inaccuracies. |
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