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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Schools
Interior
Exterior
Community Features
Suburban
Fencing
None
Lot Features
16-20 Units/ Acre
View
Mountain(s)
Water Source
Other
Financial
Association Fee
0.00
Utilities
Electricity Available, Sewer Available, Water Available
Map
Community
- Address0 Palm Drive 656030005 Desert Hot Springs CA
- Area699 – Not Defined
- CityDesert Hot Springs
- CountyRiverside
- Zip Code92240
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Courtesy of smithREgroup. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
0 Palm Drive 656030005
Desert Hot Springs, CA
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