Royalty deal this is a great project to add to your portfolio

Palm Canyon Dr, Vista, CA 92083

$6,000,000 After Repair Value -
$5,250,000 Asking Price -
$0 Cost of Repairs =
$750,000 Potential Profit

Property Details

Asking Price $5,250,000

After Repair Value $6,000,000

Costs of Repairs $0

Potential Profit $750,000

Living Area N/A

Property Type Unknown

Bedrooms 0

Bathrooms 0

Half Bathrooms N/A

Parking 0

Listed with Agent 1

Property Description

- NOTE SALE -Defaulted 104 Room Branded 4 Star Hotel Developmentin Great Part of Palm SpringsSUMMARYDefaulted 104 Room 4 Star Hotel and Beach Club DevelopmentConstruction HaltedLocated on N Palm Canyon Drive85,400 SF Structure4.37 Acre Lot3 BuildingsProposed Property Features90 Standard Queen and King Bed Roomsplus 14 Luxury Suites with45 Seat Lobby Bar with Food30 Seat Pool Bar90 Seat Signature Restaurant30 Seat Signature Bar120 Seat Rooftop BarProperty also to feature a Stand Alone Lobby Building with a Bistro,Spa, Boardrooms, Fitness Center and 4500 SF Pool with a199 Car Subterranean Parking Lot with Valet...Original Loan Amount $4,400,000Loan Matured August 2019NOD Filed 12/30/2019Default Rate 18%Default Payment $66,000UNPAID LOAN BALANCE$5,250,000 + Buyer Feewith $2200 Per DiemBuyer Protocol:1) LOI2) POF3) BIO4) NCND5) EMD6) MFAWas and still can be a Marriott projectBuyers to pay commissionsand negotiated at time of offer.Contact me for more information.... Y.M


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