NOT LISTED FOR SALE

650 E San Lorenzo Rd Palm Springs, CA 92264

Tahquitz River Estates Neighborhood

Estimated Value: $4,060,498

24 Beds
13 Baths
-- Sq Ft
0.72 Acres

Last Sold February 27, 2015

Last sale price $1,990,000

Est. 104% increase in value since last sale

Current estimated payment $23,871/month

223 Days on Market

About This Home

As of February 2015

Don't miss this rare opportunity to own one of Palm Spring's finest small resort hotels. Currently operating as a very successful private men's resort, the property has unlimited potential to serve other markets, as well. Completely refurbished in 2005-06, the resort offers 23 smartly appointed suites & baths, plus a very spacious 1 BR manager's apartment. Lushly landscaped grounds feature spectacular mountain views and one of the largest pools and spas for this category of property in Palm Springs. All furnishings, equipment, linens and accessories, plus access to a very extensive client list, are included in the sale. Only a 15 minute walk from downtown Palm Springs, the hotel is superbly located in desirable South Palm Springs amidst other resorts and residences. This is an exciting opportunity for anyone seeking a quality resort with clientele to match.

Last Agent to Sell the Property

Mugge & Man Associates

Bennion Deville Homes License #01907787 Listed on: 06/12/2014

Bennion Deville Homes

Co-Listed By

Joel Mugge

Bennion Deville Homes License #01907787

Last Buyer's Agent

Nalo Jones

Realty Trust License #01257645

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$30,914

Year Built

1960

Lot Details

0

Listing Details

  • Active Date: 2014-11-20
  • Driving Directions: Head south on S Palm Canyon Dr, Turn left onto E Mesquite Ave. Take the 1st left onto S Random Rd, Take the 1st right onto E San Lorenzo Rd. The hotel will be on the left.
  • Full Street Address: 650 E SAN LORENZO RD
  • Pool Construction: In Ground
  • Pool Descriptions: Association Pool
  • Primary Object Modification Timestamp: 2015-10-07
  • Property Condition: Updated/Remodeled
  • Total Number of Units: 24
  • View Type: Mountain View
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2
  • Year Built: 1960

Interior Features

  • Advertising Remarks: Don't miss this rare opportunity to own one of Palm Spring's finest small resort hotels. Currently operating as a very successful private men's resort, the property has unlimited potential to serve other markets, as well. Completely refurbished in 2005-0
  • Assessed Land Value: 72130.00
  • Total Bedrooms: 24
  • Builders Tract Code: 7000
  • Builders Tract Name: TAHQUITZ RIVER ESTAT
  • Number Of Buildings: 2
  • Spa: Yes
  • Laundry: Community, Laundry Area
  • Pool: Yes

Exterior Features

  • View: Yes
  • Lot Size Sq Ft: 31343

Garage/Parking

  • Parking Spaces Total: 22
  • Parking Type: Parking for Guests - Onsite

Utilities

  • Cooling Type: Ceiling Fan(s), Wall Unit(s)
  • Heating Type: Wall Heater

Condo/Co-op/Association

  • HOA: No
  • Association Fees Include: Electricity

Multi Family

  • Total Floors: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Dec 3, 2014
Sold by
Psp Sun Resort Llc
Bought by
Resorts Palm Springs
Current Estimated Value
$4,060,498

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,095,000
Interest Rate
3.66%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 12, 2005
Sold by
Neil Scott
Bought by
Psp Sun Resorts Llc

Purchase Details

Closed on
Oct 20, 1994
Sold by
Gourlay Lawrence
Bought by
Neil Scott

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$68,514
Interest Rate
9.28%
Mortgage Type
Seller Take Back
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
Resorts Palm Springs $1,990,000 Orange Coast Title Company
Psp Sun Resorts Llc $2,600,000 Commonwealth Land Title Co
Neil Scott $190,000 First American Title Ins Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Resorts Palm Springs $1,095,000
Previous Owner Neil Scott $68,514
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/27/2015 02/27/15 Sold $1,990,000 -23.5% --
01/21/2015 01/21/15 Pending -- -- --
06/12/2014 06/12/14 For Sale $2,600,000 -- --
Source: Palm Springs Regional 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 $30,914 $2,391,671 $540,827 $1,850,844
2023 $30,914 $2,298,801 $519,827 $1,778,974
2022 $31,498 $2,253,728 $509,635 $1,744,093
2021 $30,900 $2,209,539 $499,643 $1,709,896
2020 $29,580 $2,186,884 $494,520 $1,692,364
2019 $39,848 $2,144,005 $484,824 $1,659,181
2018 $28,586 $2,101,967 $475,318 $1,626,649
2017 $28,163 $2,060,753 $465,999 $1,594,754
2016 $27,331 $2,020,347 $456,862 $1,563,485
2015 $22,446 $1,680,000 $73,905 $1,606,095
2014 $19,315 $1,560,000 $73,000 $1,487,000
Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2015

    Mugge & Man Associates

    Bennion Deville Homes

    (760) 422-3085

    12 Total Sales

    Mugge & Man Associates
    Section Image

  • J

    Seller Co-Listing Agent in 2015

    Joel Mugge

    Bennion Deville Homes

    (612) 728-2263

    12 Total Sales

    Joel Mugge
    Section Image
  • Nalo Jones

    Buyer's Agent in 2015

    Nalo Jones

    Realty Trust

    (760) 327-8000

    15 Total Sales

    Nalo Jones
    Section Image

  • S

    Buyer's Agent in 2015

    Scott Timberlake

See All Agents

Map

Source: Palm Springs Regional Association of Realtors

MLS Number: 14-768033PS

APN: 508-191-012

California Riverside County Palm Springs 92264 Tahquitz River Estates

650 E San Lorenzo Rd, Palm Springs, CA

This home is located at 650 E San Lorenzo Rd, Palm Springs, CA 92264 since 12 June 2014 and is currently estimated at $4,060,498. This property was built in 1960. 650 E San Lorenzo Rd is a home located in Riverside County with nearby schools including Cahuilla Elementary School, Raymond Cree Middle School, and Palm Springs High School.

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