Palm Dr
Desert Hot Springs, CA 92240
402 Unit Condo Project-SELLER FINANCING · Land For Sale
·
25.00 AC
Investment Highlights
- Prime 402 Unit Approved Condominium Development Site
- 100% 2BR 2BA - Dual Master Suite 1245 SF units with 2-level Community Center
- High Demand Entry-Level Housing
- SELLER FINANCING AVAILBLE
Property Facts
| Property Type | Land | Total Lot Size | 25.00 AC |
| Property Subtype | Residential | Cross Streets | 15th |
| Proposed Use | Master Planned Community | ||
| Zoning | RH - 3 of 4 parcels zoned R-H (residential High Density). Parcel fronting Palm Drive zoned MU-C (Mixed Use). CUP on this parcel has already been approved | ||
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Master Planned Community |
| Total Lot Size | 25.00 AC |
| Cross Streets | 15th |
| Zoning | RH - 3 of 4 parcels zoned R-H (residential High Density). Parcel fronting Palm Drive zoned MU-C (Mixed Use). CUP on this parcel has already been approved |
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.
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $9,550,770 | Total Assessment | $9,550,770 |
Property Taxes
