73151 Adobe Circle, 29 Palms

$1,495,000

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1 Bed
2 Baths
6,819 Sqft
9.45 Acres
0 Garage

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.

Essential Information

MLS® #
22159671
Price
$1,495,000
Bedrooms
1
Bathrooms
2.00
Square Footage
6,819
Acres
9.45
Year Built
1936
Type
Residential Income
Status
Active

Community Information

Address
73151 Adobe Circle
Area
DC726 - Four Corners
City
29 Palms
County
San Bernardino
Zip Code
92277
Senior Community
N

Amenities

Parking Spaces
20
Parking
Uncovered
Garages
Uncovered
View
City Lights, Desert

Interior

Appliances
Oven, Refrigerator
Heating
Propane
# of Stories
1

Exterior

Exterior
Adobe
Construction
Adobe

Additional Information

Date Listed
May 20th, 2022
Days on Market
705
Zoning
R4

Listing Details

Agent
Shawn S. Kormondy
Office
Keller Williams Beverly Hills
Property History
Price Reduced from $1,550,000 to $1,495,000

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Buyer's Agent

Jeremiah Moersch REALTOR®

Office: 760-533-2540
Listing Agent
Shawn S. Kormondy - Keller Williams Beverly Hills

Based on information from California Regional Multiple Listing Service, Inc. as of April 24th, 2024 at 1:40am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.