"La Casa'' is located in central Palm Springs and was originally built as a hotel in 1946, then converted to 8 apartments. La Casa holds R3 zoning and is surrounded by 5 boutique hotels. Conversion back to hotel is likely or continue as apartments. Attractive unit mix between (2) studios, (3) 1 bedrooms and (3) large 2 bedroom units. This property offers value upside, passive income with light management duties and great tax benefits for the new owner. Brand new roof over 90% of the building. Very large attractive units, each with private yards and 2 with large balconies overlooking the sparkling pool. Opportunity to additionally sub-meter the gas to lean out the expenses for a higher return. On site common laundry room can generate additional income as well. Proforma income is $112,080 Year 9.77 GRM and 6.75% cap rate, only 3 of 8 units are strategically rented in the event a purchaser wants to convert back to boutique hotel quickly. This is Fee Simple land, no land lease.