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81760 Avenue 48 - Coachella Valley Entitled Development
6.01 Acres of Commercial Land Offered at $5,950,000 in Indio, CA 92201
Investment Highlights
- Indio is currently the largest and fastest growing city in Riverside County’s Coachella Valley
- Wood frame with Contemporary-Style Exterior Design by KTGY Group Inc.
- One of the top emerging travel destinations in the country
- Excellent Unit Mix Featuring One-, Two-, Three-Bedroom Floor Plans | Average Unit Size of 785.95 Square Feet.
Executive Summary
Monroe and Ave. 48 is located in the heart of the Coachella Valley. It is a fully-entitled, Class A, Institutional grade development situated on the northside of Avenue 48 and Monroe Street. This project will feature a total of ±125,752 net rentable square feet and consisting of several one and three-story buildings, all wood frame with contemporary-style exterior construction design by KTGY Group and fully-equipped unit amenities.
With an appraised stabilized value of $68,650,000 by BBG, Monroe and Ave. 48 is a prime multifamily market rate development opportunity that will yield a prime income-producing apartment community and a great long-term investment. The property is in an exceptional area, with underlying zoning in place, and offers stability for an institutional purchaser or seasoned private investor.
Indio is currently the largest and fastest growing city in Riverside County’s Coachella Valley and one of the top emerging travel destinations in the country. We are looking to sell this property or find a Joint Venture partner. We are taking offers as they come in on this asset.
Property Facts
| Price | $5,950,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Conditions | Redevelopment Project | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 6.01 AC |
| Price | $5,950,000 |
| Sale Type | Investment |
| Sale Conditions | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 6.01 AC |
1 Lot Available
Lot
| Price | $5,950,000 | Lot Size | 6.01 AC |
| Price Per AC | $990,017 |
| Price | $5,950,000 |
| Price Per AC | $990,017 |
| Lot Size | 6.01 AC |
6 acres are fully approved and entitled for 160 market rate multifamily units. This property is 7 miles from the City of La Quinta. Also available for sale is two adjacent acres of unentitled land, zoned for an additional 16 units.
Description
Indio is currently the largest and fastest growing city in Riverside County's Coachella Valley and one of the top emerging travel destinations in the country. Cross street Monroe and Ave. 48 is located in the heart of the Coachella Valley and is located just 7 miles from the City of La Quinta. The property is in an exceptional area, with underlying zoning in place, and offers stability for an institutional purchaser or seasoned private investor.
zoning
| Zoning Code | R07 (Market Rate Apartment Development Opportunity) |
| R07 (Market Rate Apartment Development Opportunity) |
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Rick Lobos -
Nina Hanna -
Versailles Real Estate Group
Presented by
81760 Avenue 48 - Coachella Valley Entitled Development
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