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Villa Mykonos Resort 67590 Jones Rd 20 Room Hotel Cathedral City, CA 92234 $5,862,822 CAD ($293,141 CAD/Room) 8.20% Cap Rate
INVESTMENT HIGHLIGHTS
- away from HWY 111, but yet easy access to it, literally 1 min on foot to target, Boomers, Trader Joe`s , Starbucks, El Polo Loco, Mechanics Bank......
EXECUTIVE SUMMARY
it is a 10 unit x 2 bed/2 bath each hotel, huge 1600 sq.ft + average size each unit, previously a condominium complex , that may still be converted into a condo or a time share, as Title is still not fully converted! Located at a perfect hide-a-way location that is away from Hwy 111 but walking distance to Target, Boomers,Trader Joe's,restaurants and service plazas, car dealerships, public transportation and one street away from Hwy 111, the main transport way of the Desert connecting all of the cities in Coachella Valley. Property is currently operationg as a hotel and is ready to be taken to the next level and be exploited to its full capacity. All 10 units , at 2 bed /2bath each , are fully furnished , throughout , and are similar but slightly different in terms of layout and furnishings. Look at the attached inventory list! Some of the rooms are on the bottom and some are on the second level . The current owner operates the property as a hotel and is a resident in the property so only 9 of the units are utilized but a buyer should be able to use all 10 units.Current operating capacity is around %30-%35 and property is only advertised on AIR B & B , with prices ranging from $300 to $900 per night depending on season and events-Coachella Valley Music
festival, Stagecoach music festival , Indian Wells Tennis Tournament and many others are world-wide events and draw millions of visitors to the Desert and hotels command premium prices for those . Proforma , attached in documents , shows an AirB& B average daily rate to be $405 -since it is a 2bed/2bath.The daily rate X %57 occupancy-which is very conservative and can easily go to %80 occupancy-which is normal for the Desert ,shows the profit for the year to be $839000 . Deducting the actual expenses , supplied by the ownership, we have net income of $559879. Deducting the actual capital improvements we have $344,879 , and then if divided by asking price the CAP rate is %7.8 .
call Slav for any inquiries at 760-408-4824 cell. Request for documents only after LOI issuccessfully negotiated!
festival, Stagecoach music festival , Indian Wells Tennis Tournament and many others are world-wide events and draw millions of visitors to the Desert and hotels command premium prices for those . Proforma , attached in documents , shows an AirB& B average daily rate to be $405 -since it is a 2bed/2bath.The daily rate X %57 occupancy-which is very conservative and can easily go to %80 occupancy-which is normal for the Desert ,shows the profit for the year to be $839000 . Deducting the actual expenses , supplied by the ownership, we have net income of $559879. Deducting the actual capital improvements we have $344,879 , and then if divided by asking price the CAP rate is %7.8 .
call Slav for any inquiries at 760-408-4824 cell. Request for documents only after LOI issuccessfully negotiated!
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
- Third Party Reports
- Miscellaneous
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$1,170,959
|
$70.97
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$1,170,959
|
$70.97
|
| Taxes |
$60,006
|
$3.64
|
| Operating Expenses |
$629,529
|
$38.15
|
| Total Expenses |
$689,536
|
$41.79
|
| Net Operating Income |
$481,424
|
$29.18
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,170,959 |
| Annual Per SF | $70.97 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,170,959 |
| Annual Per SF | $70.97 |
| Taxes (CAD) | |
|---|---|
| Annual | $60,006 |
| Annual Per SF | $3.64 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $629,529 |
| Annual Per SF | $38.15 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $689,536 |
| Annual Per SF | $41.79 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $481,424 |
| Annual Per SF | $29.18 |
PROPERTY FACTS
AMENITIES
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Patio
- Public Access Wifi
- Smoke-Free
- Hot Tub
- Fully-Equipped Kitchen
- Multi-Room Suites
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 20 | $192.64 CAD | - |
1 1
PROPERTY TAXES
| Parcel Number | 681-310-029 | Total Assessment | $3,413,936 CAD |
| Land Assessment | $673,641 CAD | Annual Taxes | $60,006 CAD ($3.64 CAD/SF) |
| Improvements Assessment | $2,740,295 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
681-310-029
Land Assessment
$673,641 CAD
Improvements Assessment
$2,740,295 CAD
Total Assessment
$3,413,936 CAD
Annual Taxes
$60,006 CAD ($3.64 CAD/SF)
Tax Year
2025
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Villa Mykonos Resort | 67590 Jones Rd
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