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02 Karen Avenue, Desert Hot Springs
$24,900,000
219132097 MLS
AVAILABLE FOR SALE OR LONG-TERM LAND LEASE. Sunset Ridge offers a rare approved Specific Plan on approximately 160 Acres located within the City of Desert Hot Springs within minutes of Downtown Palm Springs. The previous Tentative Tract Map was approved for 5,500 to 16,000 sq. ft. lots, however, the zoning allows up to 5DU/acre which could yield as many as 800± potential units (Buyer to Verify). This opportunity is ideal for a build-for-rent developer, homebuilder, or savvy investor interested in a rare land-banking opportunity to acquire one of the largest developable parcels in the entire Coachella Valley. With panoramic views and close proximity to both downtown Palm Springs and the I-10 freeway, significant home price premiums or rents are expected. Opportunity Highlights: The property consists of 160 Acres with breathtaking panoramic views. The 'Sunset Ridge Specific Plan' is approved and valid, with zoning for up to 800± potential lots (5 dwelling units per acre), and previously had an expired Tentative Tract Map for 499 homes, ranging in size from 5,500 square feet to 16,000 square feet. All necessary reports are available for review for the above current and previous approvals. Sunset Ridge is officially recognized by the City of Desert Hot Springs in its 2021-2029 Housing Element (p. D-8) in connection with its state-mandated housing quotas, potentially reducing any political or entitlement risks. The property is also immediately adjacent to Skyborne, a massive residential community with actively-selling homebuilder (Lennar). The location is approximately a 15-minute drive to downtown Palm Springs and approximately a 5-minute drive to I-10 Freeway. The property is on a paved road with all utilities (Buyer to Verify), and a recently-built fire station in place. The property was last appraised (in 2005) for $27,500,000. The option to pursue a long-term ground lease allows a developer or investor to acquire a trophy residentially-zoned property for a minimal initial cash outlay. Owner wants to close by end of year, and will look at all offers.

02 Karen Avenue, Desert Hot Springs

Hacienda Avenue, Desert Hot Springs
$895,000
219038731 MLS
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. 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. Sidewalks and curbs are in place. 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.

Hacienda Avenue, Desert Hot Springs

Hacienda Avenue, Desert Hot Springs
$685,000
219038692 MLS
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.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. Sidewalks and curbs are in place. 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.

Hacienda Avenue, Desert Hot Springs

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