LOS ANGELES, CA — DECEMBER 29, 2021 — Centre Urban Real Estate Partners has successfully sold Desert Springs Spa & RV Park comprising of 96 RV and mobile home pads in Riverside County, California for $2.4 million or $25,000 per pad. Desert Springs Spa & RV Park is a legacy asset of Tahiti Partners Properties Corporation, which originally purchased the property in distressed condition for $1.8 million or $18,750 per pad in early 2017. The property was originally built in 1974 and features a swimming pool and spa heated by natural hot springs, which is the namesake of the nearby City of Desert Hot Springs. Centre Urban successfully executed a renovation and stabilization business plan that saw significant value-creation as demonstrated by the ultimate disposition.
Centre Urban was represented by an affiliated Centre Urban company, and the buyer was represented by the Martinez & Associates, Inc. in the transaction.
Located in the Coachella Valley, Desert Hot Springs is a historic city that rests upon a large alluvial plain that fills the cavity of the ancient Mission Creek, which flows from the snowpack on the peak of Mt. San Gorgonio, a protected nature reserve. A short drive from Desert Springs Spa & RV Park and Desert Hot Springs is the world-famous City of Palm Springs, which is known for its hot springs, stylish hotels, golf courses and spas. It's also noted for its many fine examples of midcentury-modern architecture.
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