0 Palm Drive 656030005
Desert Hot Springs, CA, 92240
$5,000,000
Beds
0 Baths
SqFt
25 Acres
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SELLER FINANCING AVAILABLE! PRIVATE LENDER REO. PRICE REDUCED TO $5,000,000! 25 acre parcel with APPROVED 402 unit residential condominium community consisting of all 2BR 2BA, dual master suite 1245 SF units and two-level community center. Desert Hot Springs is the fastest growing city in the Coachella Valley and positioned to become a cornerstone of affordable, entry-level housing for the existing and growing workforce in the area. Site is within 20 minutes of all major employment centers, health care facilities and resorts in the Greater Palm Springs area. Development Permit, Conditional Use Permit and Tentative Tract Map have been approved. 175 page City of Desert Hot Springs Staff Report is available. Property previously sold in 2022 for $9,000,000. Appraisal report available. At pro-forma sale price of $250,000 per unit, land cost is 8.9%. Total project revenue is estimated at $100 million.

Property Details

Price:
$5,000,000
MLS #:
PW24044386
Status:
Active
Baths:
0
Address:
0 Palm Drive 656030005
Type:
Land
Neighborhood:
699notdefined
City:
Desert Hot Springs
Listed Date:
Mar 1, 2024
State:
CA
ZIP:
92240
Lot Size:
1,089,000 sqft / 25.00 acres (approx)
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Suburban
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16-20 Units/ Acre
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Electricity Available, Sewer Available, Water Available

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0 Palm Drive 656030005
Desert Hot Springs, CA