67590 Jones Road
Cathedral City, CA 92234
Listing broker / agent: Windermere Real Estate · Slavyan Panayotov · CRMLS
MLS # 219151829DA · Last checked Oct 19, 2026 16:33 UTC
About this property
%9.5 CAP rate proforma!it is a 10 unit x 2 bed/2 bath each hotel, previously a condominium complex , that may still be converted into a condo or a time share, as Title is still not fully converted!At approximately $210 per sq.ft the asking price is way below the replacement cost and not even including price of land and so on....Located at a perfect hide-a-way location that is away from Hwy 111 but walking distance to Target, Boomers,Trader Joe's,restaurants and service plazas, car dealerships, public transportation and one street away from Hwy 111, the main transport way of the Desert connecting all of the cities in Coachella Valley.Property is currently operationg as a hotel and is ready to be taken to the next level and be exploited to its full capacity.All 10 units , at 2 bed /2bath each , are fully furnished , throughout , and are similar but slightly different in terms of layout and furnishings. Look at the attached inventory list!Some of the rooms are on the bottom and some are on the second level .The current owner operates the property as a hotel and is a resident in the property so only 9 of the units are utilized but a buyer should be able to use all 10 units.Current operating capacity is around %30-%35 and property is only advertised on AIR B & B , with prices ranging from $300 to $900 per night depending on season and events-Coachella Valley Music festival, Stagecoach music festival , Indian Wells Tennis Tournament and many others are world-wide events and draw millions of visitors to the Desert and hotels command premium prices for those .Proforma , attached in documents , shows an AirB& B average daily rate to be $405 -since it is a 2bed/2bath.The daily rate X %57 occupancy-which is very conservative and can easily go to %80 occupancy-which is normal for the Desert ,shows the profit for the year to be $839000 . Deducting the actual expenses , supplied by the ownership, we have net income of $559879. Deducting the actual capital improvements we have $344,879 , and then if divided by asking price the CAP rate is %9.5 .there are 10 attached garages, with 4 additional covered parking spaces and 7 extra parking spots-6 regular-1 handi-capped.
Property details
- MLS number
- 219151829DA
- Status
- Active
- Type
- Commercial Sale
- Lot size
- 0.71 acres
- County
- Riverside
- Year built
- 1989
More property detailsCollapse
Listing
- Days on market
- 0
Building
- Year built
- 1989
- Roof
- Flat, Foam
Rooms & interior
- Heating
- Central, Forced Air
- Laundry
- Common Area
Exterior & parking
- Total parking spaces
- 25
- Carport spaces
- 4
- Lot features
- Garden, Near Park, Near Public Transit, Secluded
- Lot size source
- Assessor
Utilities & community
- Utilities
- Electricity Available, Phone Connected, See Remarks
- Community features
- Gated, Park
Fees & lease terms
- Association fee
- $0.00
Nearby public schools
Nearby does not mean assigned. These are approximate straight-line distances from the property, not walking or driving routes. Confirm attendance boundaries, enrollment eligibility, grades and current school status directly with the district.
| School / district | Grades | Distance |
|---|---|---|
| Cathedral City Elementary Palm Springs Unified · Cathedral City | K–5 | 1.7 mi |
| Nellie N. Coffman Middle (school website, opens in a new tab) Palm Springs Unified · Cathedral City | 6–8 | 1.9 mi |
| Cielo Vista Charter (school website, opens in a new tab) Palm Springs Unified · Palm Springs | K–8 | 1.9 mi |
| Cathedral City High (school website, opens in a new tab) Palm Springs Unified · Cathedral City | 9–12 | 2.0 mi |
| Mt. San Jacinto High (school website, opens in a new tab) Palm Springs Unified · Cathedral City | 9–12 | 2.4 mi |
| Agua Caliente Elementary (school website, opens in a new tab) Palm Springs Unified · Cathedral City | K–5 | 2.4 mi |
| Landau Elementary (school website, opens in a new tab) Palm Springs Unified · Cathedral City | K–5 | 2.7 mi |
| Sunny Sands Elementary Palm Springs Unified · Cathedral City | K–5 | 2.8 mi |
Source: California Department of Education · 2025-26 school locations. Downloaded Oct 2, 2026 UTC. This annual snapshot may not reflect later changes. Public schools only; not a complete list of education options. No ratings or attendance assignments are provided.
Check the California School Directory ↗Price and tax history
Asking price
- Current asking price
- $3,599,890
- MLS-reported original asking price
- $3,599,890
| Observed (UTC) | Asking price |
|---|---|
| Oct 2, 2026 05:49 | $3,599,890 |
MLS values are reported for this listing, not prior sales. Observation dates show when our importer saw an asking price, not when the MLS changed it. Up to 24 observations are retained; changes between refreshes may be missed. This is not a complete price or sales history.
Property taxes
Tax history is not available from the imported listing data.
Source: MLS feed. Only supplied tax years are shown, up to 10 years; this is not a county tax archive. Amounts may be corrected and taxes may change after purchase. Verify assessments and current taxes with the county. These values do not automatically fill the payment calculator.
Market trends in Cathedral City
Active residential homes for sale in Cathedral City, CA, available through this website's authorized feed. Includes residential subtypes; excludes rentals. Not the entire market or a valuation of this property.
Observed price activity · past 30 days
22 currently active listings have an observed price-change pair ending in this period. A listing can appear in both counts.
Calculated 2026-10-19 17:28 UTC. Source: this website's authorized MLS inventory. Import progress, freshness rules and coverage affect the figures. Medians exclude missing/invalid values; price per sq ft is the median of individual listing ratios. Price observations are limited to the last 24 per listing and may miss changes between refreshes. This is not a complete 30-day market report, historical inventory trend, appreciation measure, or sold-price analysis.
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