Corona Yacht Club - 20 ac Multifamily/Commercial/Event Center

Vacant Land for Sale
Catylist Listing ID: 30327674
Property Subtypes: Hospitality, Multi-Family, Residential (Single Family), Vacation/Resort
Gross Land Area: 20 Acres
Sale Price: $2,900,000
Unit Price: $145,000 Per Acre
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 8/29/2018

Overview / Comments

Rancho De Los Suenos (Ranch of Dreams) is a 20 acre private estate. It is easy to forget you are in the middle of the desert upon entering the magnificent surroundings. It includes the main ranch home, with 15 acre Palm Tree Nursery and 5 acre event center known as the Corona Yacht Club which can accommodate groups as large as 600. The average rental is $4500 per event.
Great opportunity to acquire property which offers mixed use zoning.
Development Potential: Zoned for 30 units per acre of Multifamily. Ideal for a Hotel, Condominiums, Villas, Fractional Share Vacation Homes, or RV Resort.

5 acre Event Center ($4500 average rent per event)
3 Acres Zoned Commercial - Ideal for Boutique Hotel
17 Acres Zoned Multifamily - Allows up to 30 units per acre
6,000 Palm Trees

Asking: $2,900,000 ($3.33 / sf)

Additional Details

Nearest MSA: Riverside-San Bernardino-Ontario
County: Riverside
Tax ID/APN: 603-130-001
Zoning: C-N & R-M
Property Located Between: Vista Del Sur and Avenue 47
Property Visibility: Good
Largest Nearby Street: Dillion Rd
Site Description: 5 ACRES OF IMPROVEMENTS & 15 ACRES UNIMPROVED 2 Acre Lagoon - Using low cost fresh canal water. 3,200 sf Covered Seating - Includes large service bar and restrooms overlooking the lagoon. The Dock - 1,000 sf dock extends over water. Croquet Lawn. Pavilion Deck. Outdoor Palm Grove Dining - Large canopy of mature palm trees. Convenient Parking - One main lot and an overflow area. 2 Staging/Prep Areas for caterers. Guest Hose - 1 bed / 1 bath with a kitchenette and sitting area. Main House - 2 bed / 2 bath with kitchen and sun-room; currently occupied by manager. Small office building. Also includes 6,000 Palm Trees.
Area Description: The Corona Yacht Club is located just 25 minutes east of Palm Springs. Going east bound on I-10, use the right lane to take Hwy 86 S. Take the Dillion Rd exit and turn left on Dillion Rd, turn right on Vista Del Sur (frontage road) for 1/2 mile. Turn south on Tyler St for 1/4 mile. The property is located on the east side.
Lot Frontage: 675'
Lot Depth: 1,290'
Zoning Description: C-N (Neighborhood Commercial) & R-M (Residential Multiple Family, 30 DU/ac)
Topography: Level
Available Utilities: Electric, Water, Sewer

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 67 45,176 104,460
Median Age: 64.7 26.99 28.82
Households: 34 10,820 27,698

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