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 0

Parking 0

Listed with Agent No

Property Description

Defaulted 104 Room Branded 4 Star Hotel Development
in Great Part of Palm Springs

Defaulted 104 Room 4 Star Hotel and Beach Club Development
Construction Halted
Located on N Palm Canyon Drive
85,400 SF Structure
4.37 Acre Lot
3 Buildings
Proposed Property Features
90 Standard Queen and King Bed Rooms
plus 14 Luxury Suites with
45 Seat Lobby Bar with Food
30 Seat Pool Bar
90 Seat Signature Restaurant
30 Seat Signature Bar
120 Seat Rooftop Bar
Property also to feature a Stand Alone Lobby Building with a Bistro,
Spa, Boardrooms, Fitness Center and 4500 SF Pool with a
199 Car Subterranean Parking Lot with Valet...
Original Loan Amount $4,400,000
Loan Matured August 2019
NOD Filed 12/30/2019
Default Rate 18%
Default Payment $66,000
$5,250,000 + Buyer Fee
with $2200 Per Diem

Buyer Protocol:
1) LOI
2) POF
3) BIO
5) EMD
6) MFA

Was and still can be a Marriott project

Buyers to pay commissions
and negotiated at time of offer.

Contact me for more information....


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