0 Palm Drive, Desert Hot Springs CA, 92240
(Active)
$6,000,000
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MLS# PW24044386
Last Updated: 5/15/2024 2:31 AM
Description for
0 Palm Drive
Desert Hot Springs, CA 92240
PRIVATE LENDER REO. PRICE REDUCED TO $6,000,000! 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.
Price
$6,000,000
Riverside
PW24044386
Active
Description
PRIVATE LENDER REO. PRICE REDUCED TO $6,000,000! 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.
Listing Information
| Property Type: Land, Other | ||
| 25 Acres | Assessor | |
Other
Electricity Available,Sewer Available,Water Available
Neighborhood
Room Information
Exterior / Lot Features
0 Covered Parking Spaces,
Mountain
RM, Residential High Density
None
16-20 Units/Acre
Driving Directions
Interstate 10, Exit Gene Autry Trail, North approx 7 miles.
Financial Considerations
| 656030005 |
Cash,Cash to New Loan
Listing Price History
Desert Hot Springs Real Estate
Desert Hot Springs is located in California. Desert Hot Springs, California 92240 has a population of 29,075.
The median household income in Desert Hot Springs, California 92240 is $39,164. The median household income for the surrounding county is $70,543 compared to the national median of $66,222. The median age of people living in Desert Hot Springs 92240 is 36 years.
Data provided below are primarily sourced from Public Records data.
Nearby Recent Sales (Sourced from Public Records)
| Street Address | City | Beds | Baths | Sold Price | Sold Date | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| No information is available for recently sold properties within this search. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Price History
| Date | Event | Price | Source |
|---|---|---|---|
| 5/14/2024 | Active | $6,000,000 USD -33.33% |
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| 3/4/2024 | Active | $9,000,000 USD |
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