67590 Jones Road, Cathedral City, CA 92234

Property Description

it is a 10 unit x 2 bed/2 bath each hotel, previously a condominium complex , that may still be converted into a condo or a time share, as Title is still not fully converted!Located at a perfect hide-a-way location that is away from Hwy 111 but walking distance to Target, Boomers,Trader Joe's,restaurants and service plazas, car dealerships, public transportation and one street away from Hwy 111, the main transport way of the Desert connecting all of the cities in Coachella Valley.Property is currently operationg as a hotel and is ready to be taken to the next level and be exploited to its full capacity.All 10 units , at 2 bed /2bath each , are fully furnished , throughout , and are similar but slightly different in terms of layout and furnishings. Look at the attached inventory list!Some of the rooms are on the bottom and some are on the second level .The current owner operates the property as a hotel and is a resident in the property so only 9 of the units are utilized but a buyer should be able to use all 10 units.Current operating capacity is around %30-%35 and property is only advertised on AIR B & B , with prices ranging from $300 to $900 per night depending on season and events-Coachella Valley Music festival, Stagecoach music festival , Indian Wells Tennis Tournament and many others are world-wide events and draw millions of visitors to the Desert and hotels command premium prices for those .Proforma , attached in documents , shows an AirB& B average daily rate to be $405 -since it is a 2bed/2bath.The daily rate X %57 occupancy-which is very conservative and can easily go to %80 occupancy-which is normal for the Desert ,shows the profit for the year to be $839000 . Deducting the actual expenses , supplied by the ownership, we have net income of $559879. Deducting the actual capital improvements we have $344,879 , and then if divided by asking price the CAP rate is %7.8 .there are 10 attached garages, with 4 additional covered parking spaces and 7 extra parking spots-6 regular-1 handi-capped.

Listing Status:

Active

Date Added:

August 20, 2025 at 05:00AM

Listing Office:

Windermere Real Estate : (760) 660-6444

Listing Agent:

Slavyan Panayotov : (760) 408-4824

MLS ID:

219134169DA

Interior

• Laundry: Common Area
• A/C: None
• Heating: CentralForced Air

Exterior

• Parking: Parking spaces: 25

Construction

• Roofing: FlatFoam

Location

• HOA Amenities: 0.0
• Originating MLS: CRMLS_CDAR
• County: Riverside

Lot

• Zoning: C-T681310029

Utilities

• Utilities: Electricity AvailablePhone ConnectedSee Remarks

Financial

• Source: CRMLS_CDAR

This listing courtesy of Slavyan Panayotov, Windermere Real Estate