73151 ADOBE Circle
29 Palms, CA, 92277 $ 1,495,000
Bedrooms13 Baths13.0 Sq 6,819 Monthly Estimate*
$ 10,443
Listed by Keller Williams Beverly Hills
for $1,495,000 with 13 bedrooms and 13 full baths. This 6,819 square foot home was built in 1936 on a lot size of 9.45.
On a commanding hill overlooking Twentynine Palms sits the El Adobe Hotel, once simply called The Adobe. A fine example of Americana Hospitality. The adobe structure was built by Jack McClane and Ed White in 1935. Now being offered as a 13-unit apartment complex in Twentynine Palms, California, located minutes from the largest U.S. Marine Corps base as well as the entrance to Joshua Tree National Park (3m visitors in 2021). The complex consists of five buildings on nearly 9.5 acres of land sited at an elevation of 2,100 Ft boasting sweeping views of JTNP and city lights of 29 Palms. The property currently operates as an apartment building with 9x 1-bedroom units and 4x studios today, grossing $11,000 monthly. Each unit has been rehabilitated in the last three years and features ductless HVAC, new appliances, upgraded plumbing and electrical, window blinds, fresh paint, new roofing, and new kitchens and bathrooms. Coin-operated laundry equipment was added in 2019, generating additional income. The original 1,500 SF lobby of the hotel features wood beamed ceilings, and fireplace, the space can be converted into more apartments (Check with City). The hotel's original conception had thick adobe walls (the exterior walls have been stucco'd) and deeply set windows, which commanded the best view in town. Currently supplied county water. All units are occupied, please do not disturb tenants. Current use is multi family. Hospitality use not permitted unless CUP is obtained from city. SELLER WILL FINANCE $650k at 7% for 5 years.
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FeaturesGeneralSewer SepticTypeUnknown
Heating Propane
Possession CloseOfEscrow
Appliances Oven Refrigerator
Zoning R4
Construction Materials Adobe
Year Built 1936
View CityLights Desert
Gross Income 132425.0
County San Bernardino
Net Operating Income 76579.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Facing Direction South
Garage Y/N N
Special Listing Conditions Standard
Status Active
Directions North of Highway 62
City 29 Palms
View Y/N Y
Senior Community Y/N N
Total Units 13
MLS Area DC726 - Four Corners
Lot Size Square Feet 411642.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Street Name ADOBE
Property Attached Y/N N
Land Lease Y/N N
Home Warranty Y/N N
Property Condition UpdatedRemodeled
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 523
Standard Status Active
Occupancy Description Tenant
Cap Rate 4.94
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ExteriorParking Features Uncovered
Water Source Public
Total Parking 20.0
Lot Size Area 411642.0
Number of Buildings 5
Spa N
Building Area Total 6819.0
Lot Size Acres 9.45
Lot Size Units SquareFeet
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorTotal Stories 1
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Full Baths 0
Half Baths 0
1/4 Baths 0
3/4 Baths 0
Street Suffix Circle
Laundry Features CommonArea
Total Bedrooms 13
Electric On Property Y/N N
Total Baths 13
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* Excluded FeaturesList ByKeller Williams Beverly HillsBroker
Affordability Calculator
- Monthly Principal & Interest
- $10,443
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% 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.
Learn more about how to save NearbyMulti-family listings in 29 Palms, CA
Average List Price $791,571
Percent of Sale Price 47%
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
10/5/2022 | $1,495,000 | -3.55% | Price Down |
5/21/2022 | $1,550,000 | | Listed Price |