Site is located south of I-10, on Gateway Drive, in the city of Palm Desert, CA.
227 Finished and Final Map Recorded Lots
- Property Overview: MONTEREY RIDGE is an excellent opportunity to acquire 227 finished and final map recorded lots in the City of Palm Desert just off of the highly-traveled Monterey Avenue, near the city limits of Rancho Mirage. This fully approved and partially completed project could be further built out under the traditional for-sale model, or alternatively could potentially allow for a Built-for-Rent (BFR) business plan (buyer to verify), particularity as the units are of decent size. Twenty previous townhomes were built and sold, along with completed community infrastructure, and a fully built and operational recreation center, including: clubhouse, adult pool, spa, kids pool, kids tot lot, putting green, and BBQ area. The previously built unit sizes range from 1,120 to 1,949 sq. ft. within 5 plans including 1 to 4 bedrooms, and 1.5 to 3 bathrooms, with mostly 2-story product (two of plans have a 3rd story pop-up). Immediately west of the site lies the Desert Gateway regional shopping center comprised of Wal-Mart, Kohl’s, Ashley furniture and numerous drive through and fast casual restaurants. Monterey Ridge’s public school students, as a part of the Palm Springs Unified School District, will attend Rancho Mirage Elementary School, Nelle N. Coffman Middle School, and newly constructed state of the art Rancho Mirage High School. PALM DESERT, CA is located in the center of the Coachella Valley and spans from I-10 to south of Hwy. 111 with an impressive average household income of $105,011. The city is well known for its luxury shopping district known as “El Paseo,” multiple resorts and golf courses, and several college campuses. Palm Desert has a growing population of 52,807, with an increasing demand from homebuyers and renters. In summary, Monterey Ridge provides one of the only opportunities remaining in the Southern California market place for a homebuilder or build-for-rent developer to acquire finished lots with a recreation center already built out, and to offer home sales/deliveries and revenue starting in 2022.