$998,000

0 Verbena Street

Desert Hot Springs CA, 92240

Description

This a one of two adjacent primo 2.27 acres [4.54 acres total] frontage parcels; 668 ft. on the positive slope of the northside of Hacienda Ave and 303 ft. on Verbena Dr.; for a 270 Southwesterly view scape of Coachella Valley: San Jacinto Mountains and the entrance to the San Gorgonio Pass. Both parcels are zoned R-VS-H [Residential/Visitors-Service-High Density] Hot water spa, Hotel, or 14 Residential units] with 120-125 mineral springs at a depth of 300 ft., and utilities up to property. With a variance-of-use [petition City to amend General Plan] 56 to 60 townhomes on the two lots. Noting that a precedence has be set as the City Council granted Hacienda Hills development a variance of used to build 60 townhomes [completed 08/31/2009] within the 642-081-parcel block. Extra! Desert Hot Springs has been designated an Opportunity Zone [developers can defer or eliminate capital gain taxes up to 39% per million tax credit over 7 years], the California Business and Economic development Go-Biz initiative is offering income tax credit to business], and these parcels are in that opportunity zone. Albeit, this 4.54 acres is unmatched Economic Opportunity for an estute developer!

Details

MLS#219038692PS
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Days On Site342

Features

Acreage2.54
Property ViewYes

Market Activity 92240

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Area Information
StateCA
CountyRiverside
CityDesert Hot Springs
Zip Code92240
Area340 - Desert Hot Springs
Listing VS Median (in 92240)
Price:
$998,000
low | high
Med:
$179,450
100% of Average
On Site:
342
low | high
Med:
83.5
100% of Average
Listing Updated: December 14, 2020 2:38:20 AM PST
Alex Bias LogoMLS Number: 219038692PS
Listing Provided By:
Alex Bias  of  Desert Local Realty
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