Desert Hot Springs, CA 92240,12689 Eliseo RD
Desert Hot Springs, CA 92240,12689 Eliseo RD
Desert Hot Springs, CA 92240,12689 Eliseo RD
Desert Hot Springs, CA 92240,12689 Eliseo RD
Desert Hot Springs, CA 92240,12689 Eliseo RD
Desert Hot Springs, CA 92240,12689 Eliseo RD
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$1,780,000

$1,500,000

18.7%
Est.Price: ?

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Est. payment /mo

8 Beds

9 Baths

3,500 SqFt


SOLD DATE : 03/08/2024

Key Details

Sold Price $1,780,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 3,500 sqft

Price per Sqft $508

Subdivision Hacienda Heights

MLS Listing ID 23253941

Sold Date 03/08/24

Bedrooms 8

HOA Y/N No

Year Built 1957

Lot Size 8,712 Sqft

Property Description

Introducing The Sagewater, an iconic 8-room boutique hotel in Desert Hot Springs, #1 on TripAdvisor and 5 stars on Airbnb! This mid-century modern marvel sits atop Miracle Hill, providing guests with therapeutic hot mineral water, picturesque desert views, and a truly authentic desert experience while enjoying benefits of natural hot mineral water. Key Features include a private 179ft deep well which supplies its pool and hot tub with natural hot mineral water, renowned for its therapeutic properties. Each room offers a modern and spacious interior equipped with kitchens and easy pool access. An Ayurvedic Spa is operated out of Room 2; the spa provides consistent additional revenue. Location!! 15 min from Palm Springs Airport, 30 min to Joshua Tree, and under 2 hrs to LA and San Diego. Huge development potential with 5 adjacent lots available for purchase ($45k each), all zoned for Visitor Mixed Use which will preserve Short Term Rental Rights, incredible views, and maintain privacy. Utilize the available lots to add a day spa, more hotel rooms, or vacation rental homes, all with mineral water access from existing Hotel and rare Geothermal Mineral Well. Revenue is constantly growing! With recent upgrades monthly earnings have reached $30K+. Pro-Forma projections indicate potential earnings of $45k+ a month with marketing, extended services, and continued listing on platforms such as AirBnB and VRBO. Recent upgrades allow for the property to be operated remotely. The spa operator and cleaner are willing to stay, and the current owner is looking forward to being available for a smooth transition. *SALE OPTIONS: | Hotel: Priced at $1,500,000, including the Geothermal Mineral Well. | Business Goodwill: Available at $89,000, inclusive of furniture, the website, software/reservation systems, and social media. | Additional Lots: Each covering an area of approximately 8,500 sq.ft, available for $45,200. Act fast and capitalize on the upcoming busy season, including events like Coachella and Stagecoach. This property is not just an investment; it's an opportunity to own a piece of the desert's heart and history.

Location

State CA

County Riverside

Area 340 - Desert Hot Springs

Zoning R4

Interior

Heating Natural Gas

Fireplace No

Appliance Refrigerator, Dryer, Washer

Exterior

Parking Features Uncovered

Pool In Ground

View Y/N Yes

View City Lights, Desert, Mountain(s)

Total Parking Spaces 7

Building

Story 1

Entry Level One

Water Well

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 642111021

Security Features Key Card Entry

Financing Cash

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Paul Fisher • Compass
Bought with Paul Fisher • Compass
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