$964,000

2 Verbena 002 Drive

Desert Hot Springs CA, 92240

Description

Opportunity Zone Property. 2.500 Acre (mineral water) Parcel (120-125 degrees at a depth of 300ft). With an unobstructed view of beautiful San Jacinto Mountains. The property (APN 642-081-002). Spa Hotel or Residential up to 14 units, homes, per acre. In April the General plan may increase the density of homes to 15 homes per acre. (Build 28-30 townhomes with individual private spas for each property) Utilities, roads, sewage accessible. This property is also in the New Market Tax Credit Zone. If application is accepted, the developer will receive 39% per million spent within a 7-year time frame. 2 adjacent lots are available for sale as well. This city is exploding. Mike Tyson Broke ground on 420 acres for a new development of Cannabis resort, amphitheater, glamcamps, the longest lazy river in the world, 5.4 miles away from this property. All four lots are available for sale.

Details

MLS#20549032
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Days On Site355

Features

ZoningO1
Acreage2.50
Property ViewYes

Market Activity 92240

Loading Form
Loading Form
Area Information
StateCA
CountyRiverside
CityDesert Hot Springs
Zip Code92240
Area340 - Desert Hot Springs
Listing VS Median (in 92240)
Price:
$964,000
low | high
Med:
$177,000
100% of Average
On Site:
355
low | high
Med:
531.5
66.792097836312% of Average
Listing Updated: December 14, 2020 2:38:20 AM PST
Alizabeth James LogoMLS Number: 20549032
Listing Provided By:
Alizabeth James  of  United Real Estate Los Angeles
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.