Property Showcase

73151 ADOBE CircleTwentynine Palms, CA 92277 0

$1,495,000
Multi-Family
Status: Active
  • Bed:13
  • Bath:13
  • Sqft:6,819
  • Lot:9.45 acres
  • MLS#: 22159671
34.147483825683594-116.06604766845703
Courtesy Of Shawn S. Kormondy, DRE#01451888, Keller Williams Beverly Hills

Description:

On a commanding hill overlooking Twentynine Palms sits the El Adobe Hotel, once simply called The Adobe. A fine example of Americana Hospitality. The adobe structure was built by Jack McClane and Ed White in 1935. Now being offered as a 13-unit apartment complex in Twentynine Palms, California, located minutes from the largest U.S. Marine Corps base as well as the entrance to Joshua Tree National Park (3m visitors in 2021). The complex consists of five buildings on nearly 9.5 acres of land sited at an elevation of 2,100 Ft boasting sweeping views of JTNP and city lights of 29 Palms. The property currently operates as an apartment building with 9x 1-bedroom units and 4x studios today, grossing $11,000 monthly. Each unit has been rehabilitated in the last three years and features ductless HVAC, new appliances, upgraded plumbing and electrical, window blinds, fresh paint, new roofing, and new kitchens and bathrooms. Coin-operated laundry equipment was added in 2019, generating additional income. The original 1,500 SF lobby of the hotel features wood beamed ceilings, and fireplace, the space can be converted into more apartments (Check with City). The hotel's original conception had thick adobe walls (the exterior walls have been stucco'd) and deeply set windows, which commanded the best view in town. Currently supplied county water. All units are occupied, please do not disturb tenants. Current use is multi family. Hospitality use not permitted unless CUP is obtained from city. SELLER WILL FINANCE $650k at 7% for 5 years.

Main Features:

Listing Status Active Year Built 1936
County San Bernardino Rental Price $0
Units 13 Zoning R4

Additional Features:

Appliances Oven
Refrigerator
Condition UpdatedRemodeled
Construction Adobe
Faces South
Heating Propane
HOA $0.00
Laundry CommonArea
Listing Service FullService
Listing Type ExclusiveRightToSell
New Construction N
Occupied By Tenant
Parking Uncovered
Possession CloseOfEscrow
Sewer SepticTypeUnknown
Special Conditions Standard
View CityLights
Desert
Y

Extra Features:

Building Square Feet 6819 Cap Rate 4.94
Co Listing Agent Email mkanner@thekannergroup.com DOM 228
Gross Income 132425 Listing Key 1016754456
Net Operating Income 76579 Number of Buildings 5
Office Co List Name Keller Williams Realty Los Feliz Office Co List Phone 3233001000
Parcel Number 0618181050000 Public Document Count 0
Quarter Bath 0 Three Quarter Bath 0

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable Copyright 2023 laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Information deemed reliable but not guaranteed.
Copyright© 2023 California Regional Multiple Listing Service, Inc. All rights reserved.
Last Updated On: 3/30/2023 9:25:17 AM

73151 ADOBE Circle, Twentynine Palms, CA 92277

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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable Copyright 2023 laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Information deemed reliable but not guaranteed.
Copyright© 2023 California Regional Multiple Listing Service, Inc. All rights reserved.
Last Updated On: 3/30/2023 9:25:17 AM

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