350 W Chino Canyon Rd Palm Springs, CA 92262

$3,900,000 Sold Price as of 12/20/2017

-- Beds
-- Baths
-- Sq.Ft.

Off Market

$3,900,000 Sold Price as of 12/20/2017 Refinance Your Mortgage

Map preview of 350 W Chino Canyon Rd, Palm Springs, CA 92262

Property Overview: 350 W Chino Canyon Rd Palm Springs, CA has -- bedrooms, -- bathrooms, -- living square feet and 53,578 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

350 W Chino Canyon Rd is currently an off market home in the city of Palm Springs. If you are considering making a home purchase, the value you pay for your home will depend on the market you're looking to purchase in. The city of Palm Springs has a median list price of $710,000. The median price per/sqft for Palm Springs is $458. With those numbers in mind, if you are looking to purchase a median priced home in Palm Springs, CA and put 20% down you will need to save up $142,000 for the down payment and will need roughly $14,200 for closing costs on top of the down payment. Homeowners who are looking to sell their home could expect to pay an average of 5% (2.5% to the listing agent and 2.5% to the buyers agent) in agent commissions when it comes to selling their home. With the median sale price for a home in Palm Springs the commission could be as much as $29,500. If you're thinking of selling and want to save, contact a local Ardent Real Estate Agent today.

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Sale History for 350 W Chino Canyon Rd

Last sold for $3,900,000 on December 20th, 2017

November, 2023
Nov 27, 2023

Date

Canceled

CRMLS: 219098206DA

$6,200,000

Price
Aug 2, 2023

Date

Active

CRMLS: 219098206DA

$6,200,000

Price
Listing provided courtesy of CRMLS

Discover a new endeavor at 350 W Chino Canyon Road. This Tuscany area property, comprised of approximately 18,496 square feet, is arare one-of-a-kind find in Palm Springs. Historically used as a hotel or apartment building, the City Planning Commission has recently indicated that the propertycan be permitted with a CUP and business plan as an assisted living facility. With this tremendous upside and value-add opportunity, the buyer has the potentialto expand the portfolio's cap rate 5.5% per unit. 350 W Chino Canyon Road is a prime investment to own a 25-unit, individually metered apartment building with39 bedrooms. This community offers a full suite of amenities, including a saltwater pool, spa, a zen garden, fruit trees, and 25 patios overlooking gorgeousmountain views. This complex features a broad unit mix of 11 one-bed and one-bath units, six two-bedroom and one-bath units, eight two-bedroom and one-anda-half-bath units, and one ADA-compliant unit. This residential income property offers a sought-after location between Las Palmas and Little Tuscany in PalmSprings. The Palm Springs Airport is four miles away, making the property ideal for out-of-town visitors. Owning property such as 350 W Chino Canyon Roadallows for endless possibilities. Buyer to do all due diligence.

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August, 2023
Aug 1, 2023

Date

Expired

CRMLS: 219090853DA

$6,200,000

Price
Feb 13, 2023

Date

Active

CRMLS: 219090853DA

$6,950,000

Price
Listing provided courtesy of CRMLS

Discover a new endeavor at 350 W Chino Canyon Road. This Tuscany area property, comprised of approximately 18,496 square feet, is a rare one-of-a-kind find in Palm Springs. Historically used as a hotel or apartment building, the City Planning Commission has recently indicated that the property can be permitted with a CUP and business plan as an assisted living facility. With this tremendous upside and value-add opportunity, the buyer has the potential to expand the portfolio's cap rate 5.5% per unit. 350 W Chino Canyon Road is a prime investment to own a 25-unit, individually metered apartment building with 39 bedrooms. This community offers a full suite of amenities, including a saltwater pool, spa, a zen garden, fruit trees, and 25 patios overlooking gorgeous mountain views. This complex features a broad unit mix of 11 one-bed and one-bath units, six two-bedroom and one-bath units, eight two-bedroom and one-and-a-half-bath units, and one ADA-compliant unit. This residential income property offers a sought-after location between Las Palmas and Little Tuscany in Palm Springs. The Palm Springs Airport is four miles away, making the property ideal for out-of-town visitors. Owning property such as 350 W Chino Canyon Road allows for endless possibilities. Buyer to do all due diligence.

Continue Reading
January, 2023
Jan 24, 2023

Date

Canceled

CRMLS: 219088316PS

$6,950,000

Price
Dec 15, 2022

Date

Active

CRMLS: 219088316PS

$6,950,000

Price
Listing provided courtesy of CRMLS

This is a unique prime location property which has historically operated as either a hotel or apartment building. The city has historically cooperated with either type of license. Situated on 1.23 acres and located between Las Palmas and Little Tuscany neighborhoods awaits a fantastic opportunity to snatch up a slice of Palm Springs architectural history and give it a Mod makeover as a high-end boutique hotel or restore it back to it's original intent as residential income. The enclosed grounds offer an abundance of citrus trees, explosive Mountain View's and a large pool area with utmost privacy. Currently run as a commercial hotel but originally built as residential apartments in 1956, this mid-century gem has 25 all-suites w/ full kitchens. Comprised of 8- 2BR/1.5BA = 16 Bedrooms, 6- 2BR/1BA = 12 Bedrooms & 11-1BR/1BA = 11 Bedrooms for a total of 39 Bedrooms and each suite individually metered, ADA compliant in one unit, pool area and complete with laundry room. The 25th unit is currently being used as manager's office/guest check-in. Get those wheels spinning because there are so many opportunities with this rare offer.

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December, 2017
Dec 20, 2017

Date

Sold (Public Records)

Public Records

$3,900,000

Price
August, 2015
Aug 13, 2015

Date

Sold (Public Records)

Public Records

$2,725,000

Price

Tax History for 350 W Chino Canyon Rd

Assessed Value (2020): $4,034,100

Year	Land Value	Improved Value	Assessed Value
2020	$943,500	$3,090,600	$4,034,100

About 350 W Chino Canyon Rd

Detailed summary of property

350 W Chino Canyon Rd is categorized with a use code of Commercial (General) in Palm Springs, CA 92262 and last sold on December 20, 2017 for $3,900,000. This property has -- bedrooms, -- bathrooms, roughly -- living square feet, and sits on an approximately 53,578 square foot lot. Homes in Palm Springs are selling for a median price of $590,000 and a median price per square foot of $412. Based on Ardent Real Estate Group's Palm Springs Market Data, this home is sold 561.02% higher than the current median priced home. 350 W Chino Canyon Rd was last sold on December 20, 2017 for $3,900,000. Local nearby listings include 20858 Bakal Dr, 7061 Newbury Ave and 7012 Newbury Ave. The average home in Palm Springs, CA is selling in 133 days. There are currently 744 homes for sale in the Palm Springs real estate market and 383 of them are single family homes while 346 of them are condos and 15 are townhomes. If you are the homeowner and looking to sell the home at 350 W Chino Canyon Rd Palm Springs, CA 92262 contact Ardent Real Estate Group and we will put you in touch with one of our Palm Springs agents.

Public Facts for 350 W Chino Canyon Rd

Public county record property details

Beds: --
Baths: --
Year built: 1959
Sq. Ft.: --
Lot Size: 53,578
Stories: 1

Type: Commercial (General)
Pool: Yes
Spa: No
County: Riverside
Lot#: 2,3,4
APN: 504-300-011

The source for these homes facts are from public records.

92262 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$780,000

Median List Price/Sq.Ft.

$471

Median Sold Price

$637,500

Median Sold Price/Sq.Ft.

$445

Total Inventory

451

Median Sale to List Price %

98.84%

Avg Days on Market

Loan Type

Conventional (26.92%), FHA (1.92%), VA (0%), Cash (38.46%), Other (5.77%)

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