NOT LISTED FOR SALE

601 W Arenas Rd Palm Springs, CA 92262

Historic Tennis Club Neighborhood

Estimated Value: $4,661,683

14 Beds
14 Baths
-- Sq Ft
0.55 Acres

Last Sold May 24, 2019

Last sale price $3,300,000

Est. 41% increase in value since last sale

Current estimated payment $27,999/month

240 Days on Market

About This Home

As of May 2019

Designed by Herbert Burns, this beautifully maintained Mid-Century Modern resort in the Historic Tennis Club neighborhood is all about location and views. There are 14 individualized rooms from a standard studio to a two bedroom apartment with a separate entrance and cozy fireplace. Many with small, full kitchens and private patios. Rooms overlook the pool with fabulous views from each. Another rare attribute of this hotel is off-street parking for guests- hard to come by in this neighborhood. Additional amenities include a front office/reception area, guest pantry for coffee and snacks, on-site laundry, two gas grills, ice machine, and bikes for guests to use. Perfect location-walk two blocks to the heart of town. This property is currently a fully functioning boutique hotel with a long term, loyal clientele. Appointment only. Do not enter property without Listing Agent.

Last Agent to Sell the Property

Sandra Quinn

Realty Trust License #01391280 Listed on: 05/29/2018

Last Buyer's Agent

Michael Kassinger

Realty Trust License #01213797

Home Details

Home Type

Single Family

Est. Annual Taxes

$43,174

Year Built

1957

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Style: Mid-Century
  • Levels: Ground Level
  • Entry Location: Ground Level - no steps
  • Advertising Remarks: Listing Agent Sandra Quinn Berkshire Hathaway 760-861-5150. Berkshire Hathaway HomeServices, California Properties. Designed by Herbert Burns, this beautifully maintained Mid-Century Modern resort in the Historic Tennis Club neighborhood is all about location and views. There are 14 individualized rooms from a standard studio to a two bedroom apartment with a separate entrance and cozy fireplace. Many with small, full kitchens and private patios. Rooms overlook the pool with fabulous views from each. Another rare attribute of this hotel is off-street parking for guests- hard to come by in this neighborhood. Additional amenities include a front office/reception area, guest pantry for coffee and snacks, on-site laundry, two gas grills, ice machine, and bikes for guests to use. Perfect location-walk two blocks to the heart of town. This property is currently a fully functioning boutique hotel with a long term, loyal clientele. Appointment only. Do not enter property without Listing Agent.
  • Builders Tract Code: 5860
  • Year Built: 1957
  • Unit Type: 1
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Equipment: Barbeque, Cable, Freezer, Ice Maker, Microwave, Range/Oven, Refrigerator
  • Bedrooms: 14
  • Total Bathrooms: 14.50
  • Laundry: Laundry Area

Exterior Features

  • Spa: Heated, In Ground
  • Pool: Heated, In Ground
  • Pool: Yes
  • Spa Yn: Yes
  • Stories: 1
  • View: Mountains
  • View: Yes

Garage/Parking

  • Garage Details: Parking for Guests - Onsite
  • Total Parking: 14

Utilities

  • Cooling: Central
  • Heating: Central

Lot Info

  • Assessor Parcel Number: 513-131-023
  • Lot Size Area: 23958
  • Assessed Improvement Value: 2655947
  • Assessed Land Value: 259738

Rental Info

  • Land Lease Type: Fee

Multi Family

  • Number Of Units: 14
  • Type Of Units: En Suites

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 29, 2019
Sold by
Desert Hills Partners Lp
Bought by
Tokyo Industries Ultimate Limited
Current Estimated Value
$4,661,683

Purchase Details

Closed on
Aug 2, 2010
Sold by
Desert Hotels Llc
Bought by
Desert Hills Partners Lp

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,000,000
Interest Rate
4.65%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 27, 2010
Sold by
Cone Roger
Bought by
Desert Hotels Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,000,000
Interest Rate
4.65%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 12, 2004
Sold by
Cone Marcella Ann
Bought by
Cone Roger

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$900,000
Interest Rate
6.02%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Dec 17, 2003
Sold by
Joanne Petty E and Joanne Petty K
Bought by
Petty Enterprises Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$900,000
Interest Rate
6.02%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Nov 21, 2003
Sold by
Petty Enterprises Inc
Bought by
Cone Roger

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$900,000
Interest Rate
6.02%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Sep 16, 1999
Sold by
Allan Petty E and Allan Joan K
Bought by
Petty E Alan E and Petty Kathryn Joanne
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Tokyo Industries Ultimate Limited $3,100,000 Wfg Title
Desert Hills Partners Lp -- Chicago Title Company
Desert Hotels Llc -- Chicago Title Company
Cone Roger -- North American Title
Petty Enterprises Inc -- North American Title Co
Cone Roger -- North American Title Co
Petty E Alan E -- --
Petty E Alan E -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Desert Hills Partners Lp $3,000,000
Previous Owner Cone Roger $900,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/24/2019 05/24/19 Sold $3,300,000 -13.0% --
01/24/2019 01/24/19 Pending -- -- --
05/29/2018 05/29/18 For Sale $3,795,000 -- --
Source: California Desert Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $43,174 $3,458,103 $557,756 $2,900,347
2023 $43,174 $3,323,823 $536,099 $2,787,724
2022 $44,030 $3,258,651 $525,588 $2,733,063
2021 $43,154 $3,194,757 $515,283 $2,679,474
2020 $41,246 $3,162,000 $510,000 $2,652,000
2019 $41,033 $3,094,144 $275,634 $2,818,510
2018 $39,737 $3,033,476 $270,230 $2,763,246
2017 $39,170 $2,973,997 $264,932 $2,709,065
2016 $37,976 $2,915,685 $259,738 $2,655,947
2015 $36,473 $2,871,891 $255,838 $2,616,053
2014 $36,032 $2,815,637 $250,828 $2,564,809
Source: Public Records

Agents Affiliated with this Home

  • Sandra Quinn

    Seller's Agent in 2019

    Sandra Quinn

    Realty Trust

    (760) 861-5150

    23 in this area

    108 Total Sales

    Sandra Quinn
    Section Image
  • Michael Kassinger

    Buyer's Agent in 2019

    Michael Kassinger

    Realty Trust

    (760) 668-2322

    3 Total Sales

    Michael Kassinger
    Section Image

  • M

    Buyer's Agent in 2019

    Mike Kassinger

    Keller Williams Luxury Homes

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Map

Source: California Desert Association of REALTORS®

MLS Number: 18-348888

California Desert Association of REALTORS®

APN: 513-131-023

California Riverside County Palm Springs 92262 Historic Tennis Club

601 W Arenas Rd, Palm Springs, CA

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