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535 S Warm Sands Drive Palm Springs, CA $ 6,800,000
535 S Warm Sands Drive
$ 6,800,000
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535 S Warm Sands Drive

Palm Springs, CA, 92264
$ 6,800,000
Baths0.0 Sq 5

Monthly Estimate*

$ 42,423

Listed by Coldwell Banker Realty
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Studio

Multi-Family Home for sale in Palm Springs, CA

for $6,800,000. This 5 square foot home was built in 1949 on a lot size of 1.72.

This extraordinary Hotel & Resort presents an unparalleled investment opportunity, has 31 licenses with 28 operating rooms in which the business benefits from a steady stream of travelers. Large 1.72 acre owned Fee Simple property on an extended lot is one of the largest available development lots in the City of Palm Springs. The hotel is located  within 10 minutes to downtown with great potential for a conversion to a high ADR Boutique Hotel in addition to the already consistent revenue growth over the past several years. The hotel renovation has recently completed, fully renovated, permitted owners unit (Conversion of 5 rentable hotel rooms to a single owners residence) with separate private entrance and an approximately 500 sq.ft. operation managers unit. The permitted new roof with warranty, mini splits and water heaters have all been replaced within the last few years. All property tours must be arranged through the selling agent on Tuesdays or Wednesdays only. Please DO NOT CONTACT PROPERTY Owners OR EMPLOYEES! For more information and to sign the Confidentiality Agreement, please contact (949) 289 - 6900 or  PurpleFilesRealEstate@gmail.com

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Multi-Family Active

Price

$ 6,800,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 0

Style

Lot Size

1.72

Year Built

1949

Town/City

Palm Springs

County/Region

Riverside

MLS | Web ID

NDP2400129

Days on Market

706

Features
General
Sewer Public Sewer
Zoning Commercial Residential
HOA Fee 0
Garage Spaces 31
Pool Features In Ground
Year Built 1949
Gross Income 1435040
Community Features Sidewalks
County Riverside
Net Operating Income 715000
Operating Expense 485000
Insurance Expense 3500
Property Type Residential Income
HOA 0
Garage Y/N 1
Special Listing Conditions Standard
Status Active
Directions Palm Canyon to Ramon to Warm Sands Dr
City Palm Springs
Entry Location 1
Senior Community Y/N 0
Number Of Units Total 31
MLS Area 332 - Central Palm Springs
Lot Size Units Acres
Lot Size Square Feet 74923.2
Number of Units Leased 28
Listing Terms 1031 Exchange
Property Attached Y/N 0
Land Lease Y/N 0
Electric Expense 4400
Fuel Expense 2395
Trash Expense 1500
Water Sewer Expense 2800
Rent Control Y/N 0
Virtual Tour https://www.propertypanorama.com/instaview/crmls/NDP2400129
Standard Status Active
Year Built Source Assessor
Tax Lot /3-4
Total Actual Rent 715000
Taxes 48000
Cap Rate 10
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Interior
Total Stories 1
Common Walls No Common Walls
Air Conditioning Y/N 0
Heating Y/N 0
Fireplace Y/N 0
Laundry Features Laundry Room
Entry Level 1
Total Baths 0
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Exterior
Lot Features 31-35 Units/Acre
Water Source Public
Total Parking 31
Lot Size Area 1.72
Number of Buildings 5
Spa 0
Building Area Total 5
Lot Dimensions 1.72 Acres
Lot Size Acres 1.72
Private Pool 1
Lot Size Source Assessor
Number of Separate Water Meters 5
Number of Separate Gas Meters 5
Number of Separate Electric Meters 5
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* Excluded Features
List By
Coldwell Banker Realty

Broker

PurpleFilesRealEstate@gmail.com

Email

Affordability Calculator

$42,423
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Monthly Principal & Interest
$42,423
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Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4827338 Elementary School
4827337 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
11/26/2025$6,800,000 Listed Price

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535 S Warm Sands Drive, Palm Springs, CA, 92264 is a Multi-Family Home for sale at $6,800,000 with 5 sqft and a lot size of 1.72. 535 S Warm Sands Drive is a studio with 0.0 baths and was built in 1949. The property's zip code is 92264 which is in Palm Springs, CA