$1,300,000
$1,500,000
13.3%For more information regarding the value of a property, please contact us for a free consultation.
5.95 Acres Lot
SOLD DATE : 09/09/2020
Key Details
Sold Price $1,300,000
Property Type Vacant Land
Listing Status Sold
Purchase Type For Sale
Subdivision Stonefield Estates
MLS Listing ID 219031516DA
Sold Date 09/09/20
HOA Y/N No
Lot Size 5.950 Acres
Acres 5.95
Property Description
''GALLERY 49 WEST'', consisting of 9 improved & recorded lots (for sale in bulk) which is approved as a gated enclave of modern high-end for-sale homes OR as vacation-rental homes, not far from the world renowned Music Festivals. This project is located in the high-end Southwest Corner of Indio, nearly adjacent to La Quinta, where home prices average above $1M. These near half-acre lots have the ability to support a large product size and great floor plan. The current product is proposed with modern architecture, and could be tweaked further. Gallery 49 is one of the only opportunities like this with a private enclave near the Music Festival Grounds, with ability to sell to investor homebuyers whom will operate the home as a lucrative vacation rental, OR for you to run a similar business plan directly. There are some other similar developments report rental revenues as high as $100k/weekend during each of the 3 festival weekends each Spring. Otherwise, a for-sale homes sale business plan with modern product could yield home values of $1.25M-$1.5M+.
Location
State CA
County Riverside
Interior
Fireplace No
Building
Lot Description Corner Lot, Cul-De-Sac
Sewer Other
Water Other
Others
Senior Community No
Tax ID 602570001
Acceptable Financing Submit
Listing Terms Submit
Financing Cash
Special Listing Condition Standard
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Bought with Erik Christianson • The Hoffman Company
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CEO | DRE# SA695240000 | DRE# 02100184