Apartment Land-150 Approved Units

Vacant Land for Sale
Catylist Listing ID: 30340804
Property Subtypes: Multi-Family
Gross Land Area: 6.80 Acres
Sale Price: $2,650,000
Unit Price: $389,705 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/17/2018

Overview / Comments

The City of Palm Desert conceptually approved a site plan for 150 apartment units in 2017. If developed as proposed, a precise plan application review and approval by the Architectural Review Commission and Planning Commission will be required - no City Council hearing. Changes to the use will require a City Council hearing and approval.

Additional Details

Nearest MSA: Riverside-San Bernardino-Ontario
County: Riverside
Tax ID/APN: 694-520-009, -010, -011, -012
Zoning: PR-19
Property Located Between: Portola Avenue & Cook Street
Largest Nearby Street: Cook Street
Site Description: Approved for 150 apartment units - 120 Market Rate and 30 Affordable Units $17,666 per unit No bonds or CFD encumbering the Site All utilities are available to the Site Apartment Vacancy Rat of 4.1% in Palm Desert Rents range from $824 - $1,216

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,544 37,655 104,319
Median Age: 52.95 55 51.22
Households: 2,160 18,830 47,884

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