Palm Drive, Desert Hot Springs (92240)
$9,000,000
0 
0
1,089,000
PROPERTY DETAILS
| Address: |
view address Desert Hot Springs, CA 92240 Map Location |
Features: | Real Estate Owned |
|---|---|---|---|
| Square Feet: | 1,089,000 sq.ft. | Lot Size: | 25.00 acres |
| Year Built: | 2000 | Property Type: | Land |
| County: | Riverside | List Date: | 2024-03-04 |
| Listing Number: | PW24044386 | Listed By: | smithREgroup |
| Listing Office: | 562-547-8256 | Days on market: | 54 |
PROPERTY DESCRIPTION
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.
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Property and Lot Details
| Has View: | Yes | Lot Acres: | 25.00 |
| Lot Has Mountain View: | Yes | Lot On Municipal Road: | Yes |
| Lot Sqft: | 1,089,000.00 | Lot Zoned: | Residential High Density |
| REO: | Yes | Transaction Type: | Sale |
Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.
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Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.
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Community information and market data Powered by Onboard Informatics. Copyright ©2024 Onboard Informatics. Information is deemed reliable but not guaranteed.
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person’s eligibility to attend a school or to use or benefit from other city, town or local services.
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