** PRICE JUST REDUCED ** The subject property is a fully entitled and permit ready 60-unit multi-family residential development site located on Avenue 44 just west of Jackson Street in the booming city of Indio. This development opportunity will be delivered with all final city approvals for the construction of 60 residential units in six separate buildings along with a full set of blueprints for the development. The seller just paid $50,000 to obtain the grading permit for this project.
The site is rectangular in shape with ±836’ of frontage along Avenue 44 with a depth of ±286’. The topography of the site is flat and all of the utilities are to the site. The neighborhood surrounding the subject property is primarily single family residential in nature with a few small retail strip centers and several schools.
All 60 units in this development are designed to be 2 bedroom - 2 bath units of 1,050 square feet. Twelve of the units are scheduled to be ADA-compliant. Each unit will also have an attached 2-car garage along with either a private patio or balcony. Amenities will include a club house, a gymnasium with shower facilities, a swimming pool with a Jacuzzi, barbeque and play areas with equipment.
Fully entitled “shovel-ready” projects are very difficult to find in Southern California and this property is very well positioned to take full advantage of the exploding Indio multi-family apartment market.
|Lot Square Feet||≈ 239,580|
|Area||699 - Not Defined|
|Listing Brokerage||Marcus & Millichap|
|Listing Agent||Matthew Wenzel|
|Listing Agent BRE #||01198357|
Based on information from California Regional Multiple Listing Service, Inc. as of Monday, October 9, 2017.
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