220 S Patencio Road, Palm Springs, CA 92262 (MLS# 219056208)

220 S Patencio Road, Palm Springs, CA 92262

$2,362,000

Property Type: Commercial Sale Square Footage: 10,875 Lot Size (sq. ft.): 11,326 Status: Closed

Current Price: $2,362,000 List Date: 1/25/2021 Last Modified: 5/14/2026

Overview

Description

Located in the Historic Tennis Club neighborhood next to Downtown Palm Springs, The Old Ranch Inn has been successfully operating as an 8-room Boutique Hotel. Increased revenue possible with a minimal improvement cost by adding 9th room, currently used as office space. Each room is unique, all with Kitchens/Kitchenettes to serve short term and long-term (28 days or more) guests. Hotel License will be transferred at time of sale. Transient Occupancy Tax (TOT) does not have to be paid on long term occupancies. Option to lease/rent all rooms long term is extremely valuable to remain profitable while complying with current short-term Hotel operating restrictions. All units individually metered to bill back to longer term guests. Most units have views of San Jacinto mountains and pool. Property has outdoor breakfast bar, bbq and entertainment area with firepit and room to add in ground outdoor spa. Great walking neighborhood close to shopping, dining, hiking and bike paths. On-site park ... (Read more)

Listing Details MLS# 219056208

General Property Information

Approx SqFt: 10875
SqFt Source: Other
Lot Acres: 0.26

Property Features

Business Type: Hospitality Sale Type: Standard Financing: Cash; Conventional Listing Terms: Cash; Conventional; Standard Sale Showing Access: Do Not Contact Occupant; List Agent Accompanies Owner Pays: A/C; Electric; Gas/Heat; Insurance; Janitor; Phone; Sewer; Taxes; Water Lot Features: Landscaped; Lot 10000-19999 SqFt; Lot Level/Flat; Sprinkler System; Sprinkler Drip System; Sprinklers in Front; Sprinklers on Side; Sprinklers Timer Asset Class: Hotel/Motel Road Surface Type: Paved Building Features: Living Quarters Commercial License: None Survey: Buyer Pays Signage: Sign on Building Exterior Construction: Stucco Heating: Fireplace(s) Search Tags: Multi-Tenant Laundry: Laundry Area Security Safety: Exterior Security Lights Roofing: Tar/Gravel Water: Meter on Property Utilities: Electricity Connected; Natural Gas Available; Underground Utilities; Water Meter on Property Contingent Upon: Inspection Disclosures: None

Listing Location and Property Info

APN: 513133014
Original List Price: 2400000
Property Sub-Type: Hotel/Motel
Street #: 220
Street Direction: S
Street Name: Patencio
Street Suffix: Road
County: Riverside
State: CA
Zip Code: 92262
Area: 332 - Palm Springs Central
Country: US

Listing Info

Accounting Type: ProForma
Ownership Type: LLC

Property Info

Entry Floor Number: Yes
Building # of Stories: Yes
# Units: 8
# Buildings: Yes
Building Status: Existing

Status Change Info

Status Change Date: 2021-03-31
Pending Date: 2021-03-10
Closed Date: 2021-03-31
Closed Price: 2362000

More Information

Expenses

Expense Year: 2019
Total Expenses: 180839

Income

Effective Gross: 332312

Business Info

Cap Rate: 6.3
Current Use: Inn / Hotel
Investment Property: Yes
Laundry Equipment: Yes
Sale or Lease: Sale

Parking SpacesInformation

Total Uncovered/Assigned Spaces: 8
Total Parking Spaces: 8

Water

Water District Name: Desert Water Agency

Listing Office: Realty Trust

Listing Agent: Scott Timberlake

Last Updated: May - 14 - 2026

Information deemed reliable but not guaranteed.