N Verbena St, DESERT HOT SPRINGS, 92240

Lot-Land For Sale

$998,000

Beds
Baths
Sqft
2.54Acres
Built
149DOM
MLS® #: 219038731PS
Active, 149 Days on Market

This a one of two adjacent primo 2.27 acres [4.54 acres total] frontage parcels; 668 ft. on the positive slope of the northside of Hacienda Ave and 303 ft. on Verbena Dr.; for a 270 Southwesterly view scape of Coachella Valley: San Jacinto Mountains and the entrance to the San Gorgonio Pass. Both parcels are zoned R-VS-H [Residential/Visitors-Service-High Density] Hot water spa, Hotel, or 14 Residential units] with 120-125 mineral springs at a depth of 300 ft., and utilities up to property. With a variance-of-use [petition City to amend General Plan] 56 to 60 townhomes on the two lots. Noting that a precedence has be set as the City Council granted Hacienda Hills development a variance of used to build 60 townhomes [completed 08/31/2009] within the 642-081-parcel block. Extra! Desert Hot Springs has been designated an Opportunity Zone [developers can defer or eliminate capital gain taxes up to 39% per million tax credit over 7 years], the California Business and Economic development Go-Biz initiative is offering income tax credit to business], and these parcels are in that opportunity zone. Albeit, this 4.54 acres represents unmatched Economic Opportunity for an astute developer!

Essential Information

MLS® #: 219038731PS
Price: $998,000
Acres: 2.54
Type: Lot-Land
Status: Active

Community Information

Address: N Verbena St
Area: Desert Hot Springs
City: DESERT HOT SPRINGS
County: Riverside
State: CA
Zip Code: 92240

Amenities

View: Mountains, Panoramic

School Information

District: Palm Springs Unified
Elementary: Cabot Yerxa
High: Desert Hot Springs

Additional Information

Date Listed: February 10th, 2020
Days on Market: 149
RE / Bank Owned: Yes

Listing Details

Listing Agent: Alex Bias (00710180)
Listing Office: Desert Local Realty
Contact Ron Parks: Phone: 760-883-8613
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