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- LoopNet Team
Avenue 49
Indio, CA 92201
Gallery 49 West - 9 Improved SRF Lots · Land For Sale
·
5.81 AC
Investment Highlights
- PRIVATE GATED ENCLAVE OF 9 MODERN HOMES
- RARE HALF-ACRE SEMI-FINISHED LOTS IN HIGH-END SOUTHWEST INDIO (NEAR LA QUINTA)
- ONLY HALF MILE FROM WORLD RENOWNED MUSIC FESTIVAL GROUNDS
- ADJACENT SOLD OUT COMMUNIITES SELLING IN $1M’S | ESTIMATED HOME PRICES OF $1.25M-$1.5M MODERN PRODUCT
Property Facts
| Property Type | Land | Total Lot Size | 5.81 AC |
| Property Subtype | Residential | Cross Streets | Madison St. |
| Proposed Use | Single Family Development | ||
| Zoning | CEIR -1 | ||
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Single Family Development |
| Total Lot Size | 5.81 AC |
| Cross Streets | Madison St. |
| Zoning | CEIR -1 |
Description
“GALLERY 49 WEST” is an exclusive luxury enclave consisting 9 Semi-Finished 1/2 Acre Lots in a 5.8 acre gated community. The subject property is located in the high-end area of South West Indio near La Quinta with new home product currently selling over $1M nearby. The ability to purchase 9 adjacent improved and desirable half-acre lots in the La Quinta area is almost unheard of. Modern product is the suggested architecture here which is more popular and less available in the re-sale market, with high home price premiums. Alternate business plans for the subject property would be to build exclusive vacation rental product (for short-term rentals) specifically for more affluent guests or parties visiting or performing at the annual world-renowned music festivals less than a half-mile away. Coachella Fest & Stagecoach Festival consists of a 3-4 week period every spring which have recently become some of the most popular music events across the world, with soaring attendance numbers and attraction of many celebrity guests as well. It is reported that rental revenue for luxury home like this nearby can be extremely lucrative (upwards of $100k/weekend), and single family rental product of high caliber is in short supply, especially a private enclave like the subject 9 lots which could be dedicated to festivals goers and other offseason short-term rental use. Other entertainment venues occur year round in the area as well including the Hitz Horse Show, national Polo matches at the nearby Polo Fields, Thermal Club Race Track events, and the La Quinta Arts Festival. Gallery 49 West is surrounded by other highend developments with spectacular mountain views and located with a short distance to all the luxury amenities the La Quinta area has to offer.
Property Taxes
| Parcel Numbers | Improvements Assessment | $18,534,726 | |
| Land Assessment | $1,407,155 | Total Assessment | $19,941,881 |
Property Taxes
