Avenue44

  • Indio

  • $1,100,000
  • Acres
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Lot/LandDetails

Description & Essential
Description
** 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.
Essential
MLS #PW17141709
Price$1,100,000
Lot Square Feet≈ 239,580
CountyRiverside
StateCA
ViewMountain
Area699 - Not Defined
ZoneMulti-Family
StatusActive
Sale TypeStandard
Listing BrokerageMarcus & Millichap
Listing AgentMatthew Wenzel
Listing Agent BRE #01198357

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Based on information from California Regional Multiple Listing Service, Inc. as of Monday, October 9, 2017. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.