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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.
Property Type(s):
Lot/Land/Acreage
| Last Updated | 10/25/2024 | Tract | Not Applicable-1 |
|---|---|---|---|
| Community | Desert Hot Springs | County | Riverside |
Price History
| Prior to Feb 17, '23 | $998,000 |
|---|---|
| Feb 17, '23 - Sep 16, '23 | $898,000 |
| Sep 16, '23 - Sep 16, '23 | $998,000 |
| Sep 16, '23 - Sep 26, '23 | $898,000 |
| Sep 26, '23 - Dec 11, '23 | $998,000 |
| Dec 11, '23 - Aug 29, '24 | $889,900 |
| Aug 29, '24 - Sep 11, '24 | $845,405 |
| Sep 11, '24 - Today | $872,102 |
Additional Details
| AREA | Desert Hot Springs |
|---|---|
| LOT | 2.27 acre(s) |
| LOT DIMENSIONS | 334' x 303' x 302' x 332' |
| SEWER | Unknown |
| SUBDIVISION | Not Applicable-1 |
| UTILITIES | Electricity Available,Natural Gas Available,Sewer Available |
| VIEW | Yes |
| VIEW DESCRIPTION | City Lights,Mountain(s),Panoramic |
| ZONING | R-VS-H |
Location
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Listed with Desert Local Realty
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