$4,395,000
About this home
Prime 100% Leased Investment Opportunity in the Heart of Palm Springs' Historic Uptown District. Located in one of Palm Springs' most desirable corridors, this impeccably maintained property offers exceptional visibility and charm. Dual Architecture, Mid Century Modern and Spanish, situated on a single tax lot with two distinct addresses. The offering includes: 668 Building - A striking Mid-Century Modern commercial space ideal for retail, office, or mixed use. 664 Building - A beautifully preserved Spanish-style property, home to the renowned and successful Jake's Restaurant boasting high foot traffic and excellent street frontage. In 2024 Jakes expanded its operation and a new fully renovated lobby, additional indoor seating, kitchen and restrooms. Off-street parking exclusively for tenants. This property is both functional and aesthetically unique. The 668 building features two common area restrooms on the second floor, while the ground-floor retail units each have private restrooms. Additional highlights include a fully paid solar system on the 668 building--enhancing sustainability and reducing operational costs. Currently under application for the Mills Act for a potentially significant property tax reduction. Fully occupied, please do not disturb tenants. Seller open to an exchange for an out of state Commercial property, Hotel or residential income property. Oregon preferred.
Facts & features
- Bathrooms
- 0
- Heating
- Central, Electric, Forced Air
- Laundry
- None
- Lot size
- 0.4 acres (17,424 sq ft)
- Year built
- 1960
- Parking spaces
- 17
- Area
- 332 - Central Palm Springs
- County
- Riverside
- Status
- Active
- Property type
- Commercial Sale
- Days on market
- 90
- Original price
- $4,950,000
- Terms
- Cash, Conventional
- Parcel #
- 505303012
- MLS #
- 219142175PS
