0 Palm Dr, Desert Hot Springs, CA 92240

$6,999,000 Approx. USD 0 beds, 0 baths

Agent Remarks

HUD SENIOR SOLAR TAX CREDITS IF BUILT AS SENIOR APARTMENTS. *****PRICED TO SELL! $6,999,000 WITH ALL STUDIES or $6,499,000 LAND ONLY.***** SHOVEL READY 2017 - SELLER to update all reports and plans and reassign to Buyer. Previously approved for: 27 two story apartment buildings (8 units each) 15 three story buildings (12 units each) 2 managers/owners residence, recreation villas. APN: 656-030-005 10 acres, 656-030-O06 5 acres, 656-O-030-O-007-5 acres, 656-030-008 5 acres, Total: 25 acres Existing Zoning: High Dense (0-14 per acre) Land Use Designation (General Plan): Med Dense (8-14 per acre) Zoning allows for a potential 350 low income apartments or 437 senior units. The project was approved for an increase of land usage due the City offering a 30% increase of density for senior living and an additional bonus for Low Income Housing. Additional incentives for other types of housing. Offering of Memorandum upon request.

Listing Details

Property type: (Lots/Land)
Status: Active
MLS# 16-160792
List price is $6,999,000 Reduced by $901,000 on 12/8/2016
Beds: 0
Baths: 0
County: Riverside
Zoning: RM
Lot description: Horse Property
MLS area: Desert Hot Springs NW (348)

Last Updated: 2/14/2017

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This listing belongs to the Desert Hot Springs NW (348) MLS area

The listing is zoned RM.
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Lat/Long: 33.957313, -116.501319.
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Broker: Courtesy of Magna Capital Group, Inc.
Listing Agent: Alizabeth James

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Total population of , which has changed by % since 1990.
The median age of the population is , while the median age of dwellings is .
Out of households, are families.

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