Palm,
Home For Sale
PRIVATE LENDER REO. OFFERED FOR SALE AT MARKET PRICE. 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
Additional Information
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- County:
- Riverside
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- Zip:
- 92240
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- MLS® #:
- PW24044386
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- Square Ft:
- 1,089,000
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- Lot Size:
- 25.00
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- Neighborhood:
- RIV CTY-DESERT HOT SPRI (92240)
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Listing information last updated on April 27th, 2024 at 4:30am PDT.