0 Palm, Desert Hot Springs, CA 92240

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Sheila Dadashzadeh

[email protected] +1(858) 375-6785

$5,000,000

Est. payment - /mo

25 Acres Lot

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UPDATED:

09/29/2024 10:33 PM

Key Details

Property Type Vacant Land

Sub Type Lots/Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW24044386

HOA Y/N No

Lot Size 25.000 Acres

Acres 25.0

Property Description

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.
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.

Location

State CA

County Riverside

Area Riv Cty-Desert Hot Spri (92240)

Building

Lot Size Range 20+ AC

Others

Monthly Total Fees $169

Acceptable Financing Cash

Listing Terms Cash

Special Listing Condition REO

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Listed by Randy Smith • smithREgroup

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Sheila Dadashzadeh

+1(858) 375-6785

Agent | CA BRE #01835591

Agent CA BRE #01835591

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