Verbena Street, Desert Hot Springs

$998,000

0 Beds
0 Baths
2.54 Acres
0 Garages

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 is unmatched Economic Opportunity for an estute developer!

Essential Information
MLS® #219038692PS
Price$998,000
Acres2.54
TypeLot-Land
Sub-TypeLots and Land
StatusActive
Community Information
AddressVerbena Street
AreaDesert Hot Springs (340)
SubdivisionNot Applicable-1
CityDesert Hot Springs
CountyRiverside
StateCA
Zip Code92240
View

City Lights View, Mountain View

Additional Information
Land TypeFee
Date ListedFebruary 10th, 2020
Days on Market48
Listing Details
AgentAlex Bias(00710180)
OfficeDesert Local Realty
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Based on information from California Regional Multiple Listing Service, Inc. as of March 30th, 2020 at 1:23pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.