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Cambridge
Inn 2238
1277 S. Palm Canyon Dr
Palm Springs, CA 92262
Motel
$4,500,000.00
* Shown By Broker Appointment
Description:
Nice bread and butter 66 room hotel near the heart of downtown
Palm Springs. Large open outdoor pool , spa and lounge area
with beautiful mountain views. Located on Indian land lease,
29 years left on lease. Approx 50% of rooms have pool views,
25% mountain views, and remaining overlook landscaped adjacent
courtyard. 2 stories. Lease is 8% of gross receipts per year,
paid $1,000 per month until 12th month, then remainder is paid.
Land and building sizes are estimates, no info shows in county
records. Will need to be verified by buyer. Rooms are modest
but nicely appointed. Lots of upside potental. |
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PropertyType:
Hotel/Motel
No. of Rooms 66
Building size 28,000 sqft
Lot Size .75 acres
Price/Room $66,181
Cap Rate 14%
Cash on Cash 45%
Pool yes
Spa yes
Mineral Hot Springs no
Gross Income Proforma $1,475,600
Total Operating Expenses $764,981
Net Operating Income $710,619 |
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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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