The Velvet Rope | 120 W Vereda Sur
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The Velvet Rope 120 W Vereda Sur
9 Room Hotel Palm Springs, CA 92262 $7,821,000 CAD ($869,000 CAD/Room)
Investment Highlights
- Boutique/Lifestyle Hotel
Executive Summary
Step inside an Old Hollywood oasis located in the center of Old Las Palmas neighborhood in Palm Springs. Just steps away from the homes of the iconic celebrities who lived and played in Palm Springs. This boutique hotel was designed by the famous Herbert Burns in 1950 and it has 10 uniquely curated rooms representing old Hollywood, styled by the renowned interior designer David Rios. Voted best new boutique Hotels to visit in Palm Springs by Forbes magazine 2024 and boasts five star reviews on all platforms. This resort has all the amenities one could want on a vacation. Each suite has a living room, kitchenette and custom designed headboard themed specifically to the design elements of the room.
Over sized pool with heating option is perfect for all season, for guests to escape the heat of the summer or take a refreshing plunge in the winter, while the tucked away separate spa with jets is perfect for chilly nights. Whether using a private Cabana or taking advantage of the oversized comfortable day beds guests will be in paradise. This hotel has by far the most breathtaking unobstructed views of the mountains and sunset. Centrally located right off of the main canyon, guests can shop, dine, hike, or simply just go for a walk around the star studded neighborhood all just minutes away. Host a wedding, birthday, anniversary or any special event here. The property is spacious enough to set up large events as well as guests can enjoy the lounge as they step into the 1930s speakeasy. With plenty of seating and luxurious details, one can’t help but to feel over the top. With over $1.7 million in upgrades this hotel is ready to make any investor a great return.
Over sized pool with heating option is perfect for all season, for guests to escape the heat of the summer or take a refreshing plunge in the winter, while the tucked away separate spa with jets is perfect for chilly nights. Whether using a private Cabana or taking advantage of the oversized comfortable day beds guests will be in paradise. This hotel has by far the most breathtaking unobstructed views of the mountains and sunset. Centrally located right off of the main canyon, guests can shop, dine, hike, or simply just go for a walk around the star studded neighborhood all just minutes away. Host a wedding, birthday, anniversary or any special event here. The property is spacious enough to set up large events as well as guests can enjoy the lounge as they step into the 1930s speakeasy. With plenty of seating and luxurious details, one can’t help but to feel over the top. With over $1.7 million in upgrades this hotel is ready to make any investor a great return.
Property Facts
| Price | $7,821,000 CAD | Building Size | 5,300 SF |
| Price Per Room | $869,000 CAD | No. Rooms | 9 |
| Sale Type | Investment | No. Stories | 1 |
| Property Type | Hospitality | Year Built/Renovated | 1953/2023 |
| Property Subtype | Hotel | Tenancy | Single |
| Building Class | C | Parking Ratio | 1.89/1,000 SF |
| Lot Size | 0.44 AC | Corridor | Exterior |
| Price | $7,821,000 CAD |
| Price Per Room | $869,000 CAD |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 5,300 SF |
| No. Rooms | 9 |
| No. Stories | 1 |
| Year Built/Renovated | 1953/2023 |
| Tenancy | Single |
| Parking Ratio | 1.89/1,000 SF |
| Corridor | Exterior |
Amenities
- Pool
- High Speed Internet Access
- Patio
- On-Site Bar
- Boutique/Lifestyle Hotel
- Public Access Wifi
- Smoke-Free
- Hot Tub
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 9 | $480.64 CAD | - |
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Walk Score ®
Very Walkable (76)
PROPERTY TAXES
| Parcel Number | 505-221-008 | Improvements Assessment | $4,421,741 CAD |
| Land Assessment | $998,458 CAD | Total Assessment | $5,420,198 CAD |
PROPERTY TAXES
Parcel Number
505-221-008
Land Assessment
$998,458 CAD
Improvements Assessment
$4,421,741 CAD
Total Assessment
$5,420,198 CAD
zoning
| Zoning Code | R2 (Hotel) |
| R2 (Hotel) |
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The Velvet Rope | 120 W Vereda Sur
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