67590 Jones Rd, Cathedral City, CA

Name: 67590 Jones Rd, For Sale in Cathedral City - eXp Realty
Brand: Windermere Real Estate
SKU: 219145273DA
Price: 3890000 USD

Real Estate

For Sale

Listed price in listed location currency (USD).

$3,890,000

0025

MLS® 219145273DA

Key Facts
Description
Map

Key Facts

Type Other

Levels Commercial Sale

Size -

Garage No

HOA Fees

Taxes

Days Active 0

Approx. Age 1989

MLS® Number 219145273DA

Property Address: 67590 Jones Rd, Cathedral City, CA, 92234-6401

Average square foot calculated using Size range provided by listing agent.

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.

MLS® Number219145273DA

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry LevelCommon Area

Exposure

Exterior

GarageNo

Approx. Age1989

Stories

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

Heat

A/C

Heating Fuel

Extras

see attached inventory list

Price History

-End Date

Not Sold YetSold Price

For Sale

Mar 23, 2026List Date

$3,890,000List Price

Commute

Commute

Starting Address

Destination Address

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