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Senior Condo Development
Location: United States -> California -> Southern California - All Southern California -> Desert Hot Springs
Industry: Real Estate > Commercial and Residential Real Estate Brokers

Business Summary

Remarks : To be shovel ready in 2017 after 5 years of work - seller to update all reports and plans and reassign to Buyer. Previously approved for: 27 two story apartment buildings (8 units each) 15 three story buildings (12 units each) 2 managers/owners residence, recreation villas. APN: 656-030-005 10 acres, 656-030-O06 5 acres, 656-O-030-O-007-5 acres, 656-030-008 5 acres, Total: 25 acres Existing Zoning: High Dense (0-14 per acre) Land Use Designation (General Plan): Med Dense (8-14 per acre) Zoning allows for a potential 350 low income apartments or 437 senior units. The project was approved for an increase of land usage due the City offering a 30% increase of density for senior living and an additional bonus for Low Income Housing. Additional incentives for other types of housing. Email for marketing plan.

Agent Remarks : Full package includes: 25 acres plus the following reports and plans. 5 years worth of studies.1. Schematic designs of all buildings and CAD site plan and Civil engineering, etc.) 2. Indian Letter 3. Aerial Topography Map 4. Boundary survey 5. Utility Base Plan 6. Archaeological survey 7. Paleontological assessment 8. Hydrology/drainage study 9. Onsite sewer and water plans 10. Soils and foundation evaluations 11. Biological Habitat assessment 12. Burrowing Owl 13. Air Quality Assessment 14. Noise Analysis and Acoustical report 15. Protocol Survey for the Coachella Valley 16. Fringe-Toed Lizard 17. Trapping Program for Palm Springs Pocket Mouse 18. Wetland Jurisdictional Delineation 19. Dessert Tortoise study, 20. First Phase Feasibility.

This project has 4 possibilities- Normal Apartments: 14 units per acre (350 units total)- Low Income Apartments: ~18.2 units per acre (~455 units total) - Senior Apartments: ~18.2 units per acre (~455 units total)- Assisted Living ~18.2 units per acre (~455 units total)**** 2/3 miles away from cannabis cultivation zone. Property is located between a Super Walmart (breaking ground) roughly 120 yards aw


Asking Price Range:  $5.0M - $10.0M
Gross Revenues:   Seller Will Provide
Cash Flow:   Seller Will Provide
Cash Flow Type:  Sellers Discretionary Cash
Seller Financing:  Yes

About The Business

Year Established:  2010
Number of Employees:  1 - 3
Relocatable:  No
Franchise:  No
Current Real Estate:  Owned
Property:  Property For Sale


View Larger Photo(s) Of Business
Senior Condo Development Photo 1 Senior Condo Development Photo 2 Senior Condo Development Photo 3

Print Listing Id: 700269975
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