68548 Grove StCathedral City, CA 92234

Property Details for 68548 Grove St

Property size (Sq ft)

19,868 SF

Property type

Apartment buildings

Description

This exceptional 19-unit apartment building presents a compelling investment opportunity in Cathedral City, CA. Currently under construction, with an estimated completion date of Q4 2025/Q1 2026, this three-story building boasts 19,868 square feet of net rentable space situated on a 32,250 square foot lot. Its prime downtown location offers easy access to Highway 111/East Palm Canyon Drive, placing it within close proximity to the recently opened Agua Caliente Casino and a burgeoning retail corridor featuring new Starbucks, Chipotle, Farmer Boys, and Circle K locations. This pedestrian-oriented development benefits from its placement within a Qualified Opportunity Zone, potentially offering significant tax advantages for eligible investors. Beyond the rental income generated by the 19 apartment units, there's additional income potential from storage or garage rentals. The property's strategic location and the ongoing development in Cathedral City make this a truly unique investment opportunity. The building is a single structure, offering efficient management and potential for strong returns. Buyer to verify tax savings within the Opportunity Zone.

Location Insight

City

Cathedral City

County

Riverside

State

California

Latitude

33.7794

Longitude

-116.466

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