Homes for sale - 0 Palm DR, Desert Hot Springs, CA 92240

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Tony English

tonyenglish@me.com +1(949) 463-1085

$ 5,000,000

Est. payment | -/mo

25 Acres Lot

Save

$ 5,000,000

Est. payment | -/mo

Save

25 Acres Lot

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW24044386

HOA Y/N No

Lot Size 25.000 Acres

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.

Location

State CA

County Riverside

Area 699 - Not Defined

Zoning RM

Interior

Fireplace No

Exterior

Fence None

Community Features Suburban

Utilities Available Electricity Available, Sewer Available, Water Available

View Y/N Yes

View Mountain(s)

Present Use Unimproved

Building

Lot Description 16-20 Units/Acre

Water Other

New Construction No

Others

Senior Community No

Tax ID 656030005

Acceptable Financing Cash, Cash to New Loan, Owner Will Carry

Listing Terms Cash, Cash to New Loan, Owner Will Carry

Special Listing Condition Real Estate Owned

Listed by Randy Smith • smithREgroup • 562-547-8256

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(949) 463-1085

tonyenglish@me.com

28391 Sheridan Dr, Niguel, California, 92677, United States

0 Palm DR Desert Hot Springs, CA 92240