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73151 Adobe Cir

TWENTY-NINE PALMS, CA 92277
  • $1,495,000
  • STATUS: Active
  • ON SITE: 256 Days
  • MLS #: 22-159671
UPDATED: 73 min ago
$1,495,000
  • 13
    BEDS
  • 9.45
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 6,819
    SQFT
  • $219
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1936
County:
Area:

School Ratings & Info

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.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2023-02-02T14:43:11.227. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.deserthouseseekers.com/homes/128984301
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73151 Adobe Cir TWENTY-NINE PALMS, CA 92277

  • Price: $1,495,000
  • Status: Active
  • On Site: 256 Days
  • Updated: 73 min ago
  • MLS #: 22-159671
13
Beds
0
Baths
0
½ Baths
9.45
Acres
6,819
SQFT
$219
$/SQFT
1936
Built
Neighborhood:
Four Corners
County:
San Bernardino
Area:
Four Corners
Property 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.
Exterior Features

Direction Faces South Exterior Construction Adobe Levels Ground Level Lot Size Area 411642 Other Structures Accessory Bldgs Parking Garage Uncovered Style Adobe Total Parking 20 View Description City LightsDesert View YN Yes

Interior Features

Baths Total 13.00 Cooking Appliances Oven Cooling Air Conditioning Equipment Range/OvenRefrigerator Heating Propane Gas Laundry Community Laundry Equipment Own

Property Features

Assessed Total Value 434137 Gross Income 132425 Gross Operating Income 132425 Like Units1 9 Like Units2 4 Net Operating Income 76579.00 Number Of Buildings 5 Number Of Units 13 Property Condition Updated/Remodeled Sale Type Standard Sewer Septic Tank Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 51916 Type Of Units 1Bd/1Ba Water District Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning R4

Listing provided courtesy of Shawn S. Kormondy DRE#01451888 of Keller Williams Beverly Hills: 310-432-6400.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2023-02-02T14:43:11.227. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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Zwemmer Realty Group | Keller Williams Realty
75486 Augusta Drive
Indian Wells CA, 92210