Homes for sale - 2 Karen Avenue, Desert Hot Springs, CA 92240

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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$24,900,000

Est. payment - /mo

160 Acres Lot

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Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

Subdivision Not Applicable-1

MLS Listing ID 219132097DA

HOA Y/N Yes

Lot Size 160.000 Acres

Property Description

SUNSET RIDGE offers a rare approved Specific Plan on 160+/- Gross Acres (not all developable) located within in 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 sf. lots however the low density residential zoning allows up to 5DU/acre which in theory could yield as many as 800+/- potential units (Buyer to Verify). This opportunity is ideal for a build-for-rent developer, or homebuilder. With panoramic mountain range views to the north, west, and east in the near the hills of North-West Desert Hot Springs, home price premiums or rents are expected. Sunset Ridge falls within the attendance boundaries of the Palm Springs Unified District and is located near the Painted Hills Middle School & Bella Vista Middle School. The subject property is located east west of Mission Lakes Golf Course (semi-private), and just north-east west of the recently opened Mission Lakes Retail Center. In summary, Sunset Ridge is an attractive locale for families, retirees, and vacation / second home buyers seeking spacious but affordable living on traditional (or potential smaller) lot sizes with ample access to outdoor recreational activities. DESERT HOT SPRINGS is known as one of the few affordable cities within the Coachella Valley, however the best located of these, within the desirable and more accessible west Coachella Valley near Hwy. 62, only minutes away from Palm Springs, and is within a short distance to the submarkets of Beaumont and Banning. The City of Desert Hot Springs is part of a rapidly growing new home market as the fastest growing city in the Low-Desert, which has benefited from a robust job growth rate that is among the highest in the state of California. Sunset Ridge is well-positioned to meet the growing demand from working households and mature households seeking affordable ownership opportunities given its close proximity to the Los Angeles MSA. Additionally, the projected home prices all fall within the FHA financing limit, while the city of Desert Hot Springs also qualifies for zero down USDA new home financing. Located just 10 miles from Palm Springs and only 5 miles to Interstate 10, the Property is easily accessible to abundant services, jobs and entertainment throughout Palm Springs and the rest of the Coachella Valley, as well as major employment centers in Riverside, San Bernardino, and Los Angeles.

Location

State CA

County Riverside

Area 340 - Desert Hot Springs

Interior

Fireplace No

Exterior

View Y/N Yes

View Hills, Mountain(s), Panoramic

Building

Sewer Unknown

Others

Senior Community No

Tax ID 664020001

Special Listing Condition Standard

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Listed by Erik Christianson The Hoffman Company

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