StatusAccepting Backup Offers (Active Under Contract)
About 588 E San Lorenzo Rd
PALM SPRINGS HOTEL: Extremely rare Palm Springs hotel opportunity with a total of 25 bedrooms - 12 units each with their own Kitchen and Laundry. Manager's Office/Lobby, community bathroom and 3 cabana locations. Eleven units are 2 bedroom and 2 bath and one is a 3/3 Penthouse. Situated in the highly desirable neighborhood connecting Central and South Palm Springs next to the recently completed Cody Place, where units sell over $1M. Just a block east of South Palm Canyon Drive, the location offers easy access to shopping, dining, entertainment, and medical facilities near historic Downtown Palm Springs. Featuring gated controlled access, ample parking, a luxurious pool and spa, koi pond, private patio/BBQ area, and an open courtyard, the property provides a perfect blend of comfort and entertainment. Modern amenities such as keyless entry, plank and carpet flooring, stainless steel appliances, and central air conditioning enhance the living experience. Besides as a hotel, there is also an ability to condo map the building and sell off as condos at a later date for a significant return. Whether you're a first-time purchaser, seasoned investor, or considering a 1031 exchange, 588 E San Lorenzo Road stands as a prime income-producing investment in the thriving Palm Springs real estate market. Current loan is assumable at rate of 4.75%.
Directions: Take I-10 E, Merge onto CA-111, Continue onto Palm Canyon, Turn Left onto E Stevens Rd, Turn Right onto N Indian Canyon Drive, Continue onto S Palm Canyon Drive, Turn Left onto E Mesquite Ave, Turn Left onto Random Rd, Turn Right onto E San Lorenzo
Price Information
Listing Price Info
Price Summary:
List Price: $4,195,000
Price Per SqFt: $345/SqFt
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Housing Market Comparison
See how this home compares to others in Palm Springs, CA.
This property is $3.5M more than the Median Sold Price and $78/SqFt less than other homes in Palm Springs, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24351718
Listing Office:
Office Name: Sotheby's International Realty
Office Phone: (310) 724-7000
Listing Agent: Eric Lavey
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 12/22/2024, 9:21:00 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
We're sorry, we currently don't have sales or tax history data for this listing.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
6
/10
Cahuilla Elementary School
833 E Mesquite Ave
Distance between this listing and this school0.24 miles
Public District Grades KG-5
5
/10
Katherine Finchy Elementary School
777 E Tachevah Dr
Distance between this listing and this school1.90 miles
Public District Grades KG-5
4
/10
Vista Del Monte Elementary School
2744 N Via Miraleste
Distance between this listing and this school3.16 miles
Public District Grades KG-5
Nearby Schools
6
/10
Cielo Vista Charter
650 S Paseo Dorotea
Distance between this listing and this school2.36 miles
Public Charter Grades KG-8
4
/10
Raymond Cree Middle School
1011 E Vista Chino
Distance between this listing and this school2.43 miles
Public District Grades 6-8
3
/10
Nellie N. Coffman Middle School
34603 Plumley Rd
Distance between this listing and this school5.32 miles
Public District Grades 6-8
Nearby Schools
4
/10
Desert Learning Academy
2248 E Ramon Rd
Distance between this listing and this school1.20 miles
Public District Grades KG-12
7
/10
Palm Springs High School
2401 E Baristo Rd
Distance between this listing and this school1.32 miles
Public District Grades 9-12
3
/10
Mt. San Jacinto High School
30800 Landau Blvd
Distance between this listing and this school3.97 miles
The neighbors living near this home have an average income of $45,986. The majority of Palm Springs, CA residents have income between $35k-100k annually. The most common type of family is single, no kids. Typical level of education for residents in this area is post secondary degree.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 588 E San Lorenzo Rd
What is the listing price of this property?
The listing price of 588 E San Lorenzo Rd property is $4,195,000.
What type of property is this?
The property 588 E San Lorenzo Rd is a house located in Palm Springs, California, 92264.
Is this property for sale now?
Accepting Backup Offers: 588 E San Lorenzo Rd is Accepting Backup Offers (Active Under Contract), there is still a chance to have your real estate agent submit an offer.
How many bedrooms and bathrooms does this property have?
The property at 588 E San Lorenzo Rd has 25 bedrooms and 25 bathrooms.
What is the square footage of this property?
The property 588 E San Lorenzo Rd is 12,164 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 588 E San Lorenzo Rd is 2012.
Interested in 588 E San Lorenzo Rd? Let's connect.
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This home is located at 588 E San Lorenzo Rd in Palm Springs, CA and zip code 92264 in the Taquitz River Estates neighborhood. This 12,164 square foot home, which was built in 2012, sits on a 0.73 acre lot. Features: 25 bedrooms, 25 bathrooms. It has been listed on Rocket Homes since January 26, 2024 and is currently priced at $4,195,000.
In November 2024 more than 9 listings in Palm Springs, CA were sold above the asking price. During the same period more than 22 listings were sold at asking price, while more than 66 were sold below. The number of listings in Palm Springs, CA increased by 12.5% between October 2024 and November 2024. In November 2024 median list price was $638,138 and the average listing age was 65 days.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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