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$872,102
Est. payment /mo
2.27 Acres Lot
UPDATED:
11/18/2024 04:08 AM
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 219038731
HOA Y/N No
Lot Size 2.270 Acres
Acres 2.27
Property Description
Unlock the potential of two adjacent primo parcels spanning 4.54 acres (APN 642 081-003 and 004) in the thriving Desert Hot Springs area. Priced at $872,102 each, these parcels combine for a total of $1,744,204. Boasting 668 feet of frontage on Hacienda Ave and 303 feet on Verbena Drive, these parcels are perched on the positive slope of the north side, offering breathtaking 270� panoramic views of the San Jacinto Mountains and the San Gorgonio Pass. Zoned R-VS-H (Residential/Visitor-Service High Density), this land is ideal for hot water spas, hotels, or up to 14 residential units, with access to 120-125� mineral springs just 300 feet underground. Utilities are already in place, providing convenience and flexibility. Even more exciting, this land could host 56-60 townhomes with a variance of use, as seen in the nearby Hacienda Hills development. Take advantage of the Opportunity Zone designation, offering developers potential capital gains tax deferrals or eliminations up to 39% per million in tax credits over 7 years. Strategic Location: Positioned at the western gateway to Coachella Valley, just minutes from the renowned Desert Hot Springs resort spa area and 20 minutes to Palm Springs. With such potential for significant returns, this is an exceptional investment opportunity for the astute developer looking to capitalize on Desert Hot Springs' booming growth and economic incentives! As the city of Desert Hot Springs continues to grow in appeal, so does the property value of this one of the few remaining 4.54 acres parcels on the left on the positive (North) side of the Hacienda Avenue. That provides an unobstructed 180 degrees Southwestern view of Coachella Valley (overlooking the North Palm Spring, White Water, and the San Gorgonio Mountains and Mountain Pass). These 4.54 acres can support 60 luxury view condominiums. Additionally, if the two 2.27 acres south adjacent parcels are acquired (under separate ownership), the additional 4.54 Acres (total of 9.8 acres) would be 120 condominiums.
Location
State CA
County Riverside
Area 340 - Desert Hot Springs
Exterior
Utilities Available Electricity Available, Natural Gas Available
View Y/N true
View City Lights, Mountain(s), Panoramic
Private Pool No
Building
Sewer Unknown
Schools
Elementary Schools Cabot Yerxa
High Schools Desert Hot Springs
School District Palm Springs Unified
Others
Senior Community No
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard
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Listed by Desert Local Realty
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Sharlotte Blake
Broker Associate | License ID: 02035876
Broker Associate License ID: 02035876
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