0 Palm Drive, Desert Hot Springs, CA 92240
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Listed Price :
$5,000,000
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Beds :
N/A
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Baths :
N/A
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Property Size :
N/A sqft
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.
Interior Features
| Bedroom Information |
| Bedrooms |
N/A |
| Bathroom Information |
| Bathrooms |
N/A |
Listing Information
| Address |
0 Palm Drive |
| City |
Desert Hot Springs |
| State |
CA |
| Zip |
92240 |
| County |
Riverside |
| Listing Agent |
Randy Smith DRE #02135413 |
| Courtesy Of |
smithREgroup |
| List Price |
$5,000,000 |
| Status |
Active |
| Type |
Land |
| Structure Size |
N/A |
| Lot Size |
1,089,000 |
Listing information courtesy of: Randy Smith, smithREgroup. *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 5:34 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
