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    66729 8th Street

    Desert Hot Springs, CA 92240
    • $3,500,000
    • STATUS: Active
    • ON SITE: 14 days
    • ID#: WS20237689
    UPDATED: 58 min ago
    $3,500,000
    • 0
      BEDS
    • 0.43
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 9,995
      SQFT
    • $350
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    County:

    School Ratings & Info

    Description

    A great investment opportunity! This hot spring spa health resort has 12 hotel suites with full kitchens and baths with 3 more additional units for employees. 1 unit has 3 bedrooms and 2 bathrooms and 2 units each has 1 bedroom and 1 bathroom. The Harmony Health Spa features natural hot mineral water directly from their own underground hot springs. Many visitors have claimed that it has healing powers. There is an indoor pool, an indoor hot spring spa and two more hot spring spas in two of the suites and one more outdoor hot spring spa. This property is located on top of a special magnetic field, where past visitors have claimed that it has healing power. a fish pond with thousands of fish and turtles. Surrounding the fish pond is a little park where you can enjoy the private oasis. This property is equipped with solar panels, enjoy low electric cost. The property was fully renovated in 2015. Some of the Additional units may not be permitted. All info deemed reliable but not guaranteed.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-11-27T22:26:40.533. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Bob Kelly Team | Berkshire Hathaway Home Services Ca. Properties. Licensed in the State of California, USA.

    www.bobkellyteam.com/homes/111830245
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    66729 8th Street Desert Hot Springs, CA 92240

    • Price: $3,500,000
    • Status: Active
    • Updated: 58 min ago
    • ID#: WS20237689
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.43
    Acres
    9,995
    SQFT
    $350
    $/SQFT
    Neighborhood:
    340 - Desert Hot Springs
    County:
    Riverside
    Area:
    340 - Desert Hot Springs
    Property Description
    A great investment opportunity! This hot spring spa health resort has 12 hotel suites with full kitchens and baths with 3 more additional units for employees. 1 unit has 3 bedrooms and 2 bathrooms and 2 units each has 1 bedroom and 1 bathroom. The Harmony Health Spa features natural hot mineral water directly from their own underground hot springs. Many visitors have claimed that it has healing powers. There is an indoor pool, an indoor hot spring spa and two more hot spring spas in two of the suites and one more outdoor hot spring spa. This property is located on top of a special magnetic field, where past visitors have claimed that it has healing power. a fish pond with thousands of fish and turtles. Surrounding the fish pond is a little park where you can enjoy the private oasis. This property is equipped with solar panels, enjoy low electric cost. The property was fully renovated in 2015. Some of the Additional units may not be permitted. All info deemed reliable but not guaranteed.
    Exterior Features

    Lot Features Front YardLawnPavedYard Lot Size Source Assessor Lot Size Units Square Feet Parking Total 10.00 Uncovered Spaces 10.00

    Interior Features

    Condo Area Units Square Feet Cooling Electric Cooling YN Yes Heating Heat PumpNatural Gas Heating YN Yes Laundry Features Common Area

    Property Features

    Additional Parcels YN No Asset Class Hotel/Motel Building Area Units Square Feet Building Status Existing Business Type Hotel/Motel Cap Rate 7.28 Country Us Electric Expense 4000.00 Gross Scheduled Income 1000000.00 Insurance Expense 0.00 Investment Property YN Yes Land Lease YN No Land Use Retail Laundry YN Yes Leasable Area Units Square Feet Max Total Area Units Square Feet Min Total Area Units Square Feet Net Operating Income 255000.00 Number Of Units Leased 12 Operating Expense 595000.00 Professional Management Expense 0.00 Property Sub Type Hotel/Motel Security Features Resident ManagerSecurity LightsSmoke Detector(S) Special Listing Conditions Standard Total Expenses 600000.00 Trash Expense 1000.00 Utilities Cable AvailableSewer ConnectedUnderground UtilitiesWater AvailableWater Connected Vacancy Allowance 150000 Vacancy Allowance Rate 15.00 Water Sewer Expense 1000.00 Water Source PrivatePublicWell

    Listing provided courtesy of Ray Chen of Your Home Sold Guaranteed Rlty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-11-27T22:26:40.533. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Bob Kelly Team | Berkshire Hathaway Home Services Ca. Properties. Licensed in the State of California, USA.

     
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