A premier 8 room boutique hotel - The Sagewater. This distinct mid-century modern hotel is situated near the top of the renowned Miracle Hill in Desert Hot Springs. The private 179ft deep geothermal well and superior location allows it to supply the pool and tub with natural warm mineral water known for its therapeutic properties (up to ~150 degrees). Each of the spacious rooms have been updated and include read more kitchens, easy access to the mineral pool and beautiful desert views. A growing in popularity Ayurvedic spa is operated out of room 2 and provides additional revenue with no additional work.Included with the sale are 5 adjacent commercially zoned vacant lots. Use the opportunity to preserve the view and privacy, add a day spa, add 20+ rooms and/or vacation rental homes with mineral water access. The opportunities are endless!With new software, property upgrades and converting the large office to an 8th room, the property has been able to grow direct bookings over the past 12 months and achieve $30K for March with zero marketing! Pro-Forma projections at $45k+ with marketing, expansion of services such as day passes/spa services and listing on AirBnB/VRBO. This is a very unique property with development options and potential for high revenue. Sale includes 6 lots (5 vacant) for a total of ~51,000 sf. of land, Geothermal Mineral Well and business goodwill - furniture, website, reservations and social media. Please see offering memorandum in the document section for more information.
The information contained in this listing has not been verified by us or the MLS and should be verified by the buyer.
Listing Agent: Paul Fisher, Listing Office: Compass, MLS Data Source: CRMLS
Last Updated: May 8th, 2023. Source: CRMLS
Paul comes from a family of real estate professionals. His mother, grandmother and uncle are real estate experts in commercial, residential and property management throughout California and Hawaii. He was raised by his mother who holds a degree in Fine Art and Design. Throughout his childhood he moved with his mother from house to house as they were bought, remodeled and sold. Paul's depth of knowledge does not come from a chart, graph or text book but through experiencing market dynamics first hand throughout his life. After Paul graduated from college he moved to Los Angeles in 2010 where he began buying, remodeling and selling properties. He is very active in the Real Estate market with multiple short term projects and long term multifamily investments. Paul offers his clients a unique perspective as he has been on all sides of the transaction. And he truly enjoys finding people their dream home and/or high income investment property and passing on his knowledge along the way. Contact him today!