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Closed
- Listed price
- $2,400,000
- Listed Jan 25, 2021
- Sold price
- $2,362,000
- Sold Mar 31, 2021
11,326 sqft lot|1930 Built|44 MLS days on market
220 S Patencio Rd, Palm Springs, CA 92262
Property Description
Located in the Historic Tennis Club neighborhood next to Downtown Palm Springs, The Old Ranch Inn has been successfully operating as an 8-room Boutique Hotel. Increased revenue possible with a minimal improvement cost by adding 9th room, currently used as office space. Each room is unique, all with Kitchens/Kitchenettes to serve short term and long-term (28 days or more) guests. Hotel License will be transferred at time of sale. Transient Occupancy Tax (TOT) does not have to be paid on long term occupancies. Option to lease/rent all rooms long term is extremely valuable to remain profitable while complying with current short-term Hotel operating restrictions. All units individually metered to bill back to longer term guests. Most units have views of San Jacinto mountains and pool. Property has outdoor breakfast bar, bbq and entertainment area with firepit and room to add in ground outdoor spa. Great walking neighborhood close to shopping, dining, hiking and bike paths. On-site parking for each room. Room rates have been historically below market creating a perfect opportunity to increase revenue especially with the 9th room brought into service. Investment proforma attached.
Listing agent: Sandra QuinnDRE #01391280(760) 323-5000, Listing office: Berkshire Hathaway HomeServices California Properties
MLS data updated 11/3/2026, 7:09:56 PM PT
Source: CRMLSMLS #: 219056221PS
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Price & property history
Compare recorded home prices, same-type ZIP sales and mortgage rates.
Last recorded sale$2,362,000
Mar 31, 2021
Available records22021
From MLS recordsActual listing and closing events
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This home · nearest recorded event
No recordNo property-price record in this range.ZIP 92262 · Nov 2026
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ZIP 92262 · same property typeThis MLS property type has no exact comparison group.
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ZIP averages use publicly displayable closed sales from our licensed MLS feed, matched to the same ZIP and exact property type. Months with fewer than 3 sales are omitted; the current month is incomplete. Lines connect available monthly observations across gaps and do not represent measured prices in missing months. These averages are not adjusted for size, condition, or location within the ZIP, and are not an appraisal. Feed coverage may not include every sale. All available shows the available home and ZIP history, with mortgage rates over the same dates.
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