Active
0 Palm DR
DESERT HOT SPRINGS CA, 92240
$5,000,000
$4.59 per sqft
Active
25 Acres
Land
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.
PW24044386MR
MLSⓇ ID
March 1, 2024
Listed
November 22, 2024
Updated
Map
0 Palm DR
DESERT HOT SPRINGS CA, 92240
Exterior/Building Features
Lot Size
25 Acres
Other Property Details
Area Name
Desert Hot Springs
Days on Market
208
Garage
No
View
Yes
County
Riverside
Water Source
Other
Pool
No
Zoning
RM
Listing History
Date | Event | Price |
|---|---|---|
8/15/2024 | Price change | $5,000,000 -17% |
5/14/2024 | Price change | $6,000,000 -34% |
Listed by Randy Smith with smithREgroup
Listing Contact: 888-281-5048
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Marco Colantonio | CA DRE# 02090885 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 11/22/2024
