Contact Xavier Gomez
Schedule A Showing
67590 Jones Road, Cathedral City, CA 92234
Priced at Only: $4,417,715
For more Information Call
Mobile: 714.478.6676
Address: 67590 Jones Road, Cathedral City, CA 92234
Property Photos
Property Location and Similar Properties
- MLS#: 219134169DA ( )
- Street Address: 67590 Jones Road
- Viewed: 6
- Price: $4,417,715
- Price sqft: $0
- Waterfront: No
- Year Built: 1989
- Bldg sqft: 0
- Additional Information
- County: RIVERSIDE
- City: Cathedral City
- Zipcode: 92234
- Provided by: Windermere Real Estate
- Contact: Slavyan Slavyan

- DMCA Notice
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Descriptionit 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.
Features
Accountingtype
- ProForma
Assetclass
- Hotel/Motel
- Specialty
Carport Spaces
- 5.00
Country
- US
Heating
- Central
- Forced Air
Inclusions
- see attached inventory list
Land Use
- Mobile Home Park
Largest Contigious Square Footage
- 1650
Laundry Features
- Community
Parcel Number
- 681310029
Parking Ratio
- 100.00
Postalcodeplus4
- 6401
Roof
- Foam
- Flat
Security Features
- Automatic Gate
- Resident Manager
- Gated Community
- Fire Sprinkler System
- Security Lights
- Card/Code Access
Utilities
- See Remarks
- Phone Connected
- Electricity Available
Year Built
- 1989
Zoning
- C-T
- Xavier Gomez, BrkrAssc,CDPE
- RE/MAX College Park Realty
- BRE 01736488
- Mobile: 714.478.6676
- Fax: 714.975.9953
- salesbyxavier@gmail.com













































