For Sale
$5,799,000

0 Jefferson StLa Quinta, CA 92201

10-Acre Residential Land, Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 10-acre parcel in Indio, California (APN: 606-050-028, 606-050-011), presents a unique investment opportunity. Located on Jefferson Street, this property boasts a prime location offering quick access to major freeways and the desirable Northgate area. Zoned Connected Neighborhood-20 (CN-20), it allows for diverse residential development, including RV parks, single-family attached homes, or larger apartment complexes. Currently, the owner is pursuing approval for a 200-unit apartment complex (one to three bedrooms), a project the city strongly supports. Preliminary site plans are available for review. The land is priced at $5,799,000 ($579,900/acre). This represents a significant value-add opportunity, with a potential 8.0% yield on cost achievable for a 200-unit project, exceeding the market cap rate of 4.75%-5.00% by 300 basis points. The sale is structured to accommodate a 1031 exchange. Once fully entitled, the asking price will increase substantially. This trophy asset is poised for substantial returns in a rapidly growing submarket. Don't miss this chance to build a landmark residential project.

Highlights

  • 200-unit apartment site in a rapidly growing submarket.
  • Projected 8.0% Yield on Cost.
  • Submarket cap rates of 4.75% - 5.00%.
  • Significant value-add opportunity (300 basis points above market).

Property Details for 0 Jefferson St

Property type
Land
Lot Size (sq. ft)
435,600 SF

Location Insight

City
La Quinta
County
Riverside
State
California
Latitude
33.73730915468
Longitude
-116.26692414119
Jefferson St, La Quinta, California

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0 Jefferson St
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