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Azure Sky Palm Springs I Page !1
Azure Sky Palm Springs, CA
Boutique Hotel Conversion Opportunity
1661 S. Calle Palo Fierro 14 Large Units (Studios, 1-Bedrooms)
Hotel License in Place
Large Private Patios
Resort Style Pool
Sweeping Panoramic Views
Mid-Century Architecture
Tahquitz River Estates Neighborhood
Nestled Among Palm Springs’ Top Boutique Hotels
For Sale $3,000,000
EXECUTIVE SUMMARY FEBRUARY, 2020
EXCLUSIVE AGENT Maxim Hotel Brokerage, Inc. Harry Pflueger 1303 Avocado Ave., Suite 225 (949) 759-8739 Newport Beach, CA 92660 [email protected] CA License #01361118 www.maxim-hb.com
Azure Sky Palm Springs I Page !2
Currently shut down and vacated
Previously a timeshare property, title is now clear
Property has a Business License to operate as a
hotel or apartment
Built in the 1959/1960, the property features desirable and authentic mid-century
architecture.
Previously operated as a hotel, multi-family and
timeshare
Within two hours from most of Southern California’s
population of 22.4 million
Excellent potential for boutique portfolio centerpiece, or an
innkeeper/proprietor
Strong, desirable Palm Springs market
Attractive pool and sun deck with sweeping,
protected mountain views
Second open courtyard for addition of amenities
Azure Sky Palm Springs I Page !3
Main Courtyard
Azure Sky Palm Springs I Page !4
INVESTMENT HIGHLIGHTS
Maxim Hotel Brokerage, Inc. is pleased to present for sale the 14-unit Azure Sky Resort located at 1661 S Calle Palo Fierro, Palm Springs, CA 92264, an opportunity to acquire, renovate and position a boutique hotel in one of the nation’s most inspired markets for lifestyle and design oriented hotels.
OVERVIEW
Please consider the following investment highlights:
• Tahquitz River Estates Location - The location is just north of E. Palm Canyon in the south section of Palm Springs. Neighboring hotels include Ace, Horizon, Sparrows, Villa Royale and V Palm Springs.
• Large Units- Unlike typical guestrooms, each unit is spacious, typically including a living area and private outdoor patio area.
• Lobby Area Potential - A large interior space adjacent to the entry could be renovated to a large owner’s suite, lobby area, or common hotel living area with kitchen.
• Expansive Protected Views - Adjacent to the west is a cul del sac which will never be developed.
• Strong Boutique Market - The small boutique hotel market in Palm Springs generated average occupancy of 71% with average daily rate of $258 for trailing-12-months through September, 2019, according to data from Smith Travel Research.
Maxim Hotel Brokerage – Harry Pflueger (949) 759-8739
Typical Unit
Azure Sky Palm Springs I Page !5
INVESTMENT HIGHLIGHTS
Maxim Hotel Brokerage – Harry Pflueger (949) 759-8739
Second Courtyard Amenity Area
Azure Sky Palm Springs I Page !6
INVESTMENT HIGHLIGHTS
Maxim Hotel Brokerage – Harry Pflueger (949) 759-8739
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INVESTMENT HIGHLIGHTS
Maxim Hotel Brokerage – Harry Pflueger (949) 759-8739
SOUTH PALM SPRINGS BOUTIQUE HOTEL MAP
Azure Sky Palm Springs I Page !8
INVESTMENT HIGHLIGHTS
Maxim Hotel Brokerage – Harry Pflueger (949) 759-8739
Subject
Azure Sky Palm Springs I Page !9
INVESTMENT HIGHLIGHTS
Maxim Hotel Brokerage – Harry Pflueger (949) 759-8739
Property Summary
Address 1661 S Calle Palo Fierro, Palm Springs, CA 92264
Built est. 1959/1960
Site 0.74 acre, APN 508-353-034, Parcels 1 & 2
Interest Fee simple
Units 14 units
Amenities Swimming Pool, 2 Pickleball Courts
Parking 22 parking spaces
Gross Building Area 7,581 SF