68548 Grove St Cathedral City, CA 92234
19-unit multifamily property under construction in Cathedral City.
Type:Multifamily
Property size:
19,868 SF- Added:
- Oct 30, 2024
- Days on Market:
- 538
- Last Refresh:
- Mar 17 at 1:14 pm
Property Features for 68548 Grove St
General Information
- Standard status
- Active
- Size
- 19,868 SF
- Property subtype
- Multifamily
Listing agent Erik Christianson License #CA 01475105
Listing office Hoffman Company
Listing date Oct 30, 2024
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Hoffman Company
Overview
Under Construction Multifamily Investment
This is an opportunity to acquire a 19-unit multifamily property currently under construction, with estimated completion in March of 2026. The property is located in downtown Cathedral City, an area experiencing significant development. Situated off Highway 111/East Palm Canyon Drive, the property benefits from its proximity to the newly constructed Agua Caliente Casino, which has created over 500 jobs and features over 500 slot/gaming machines and table games, along with several new restaurants. Additional retail developments are under construction to the east, including Starbucks, Chipotle, Farmer Boys, and Circle K. The property is located within a Qualified Opportunity Zone. The property size is 19868 square feet.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Cathedral City
- County
- Riverside
- State
- California
- Longitude
- -116.4656033
- Latitude
- 33.7794435
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 19-unit multifamily property under construction in Cathedral City.
Where is this apartment building located?
The property is located at 68548 Grove St Cathedral City, CA.
What is the asking price?
The asking price for this property is $11,950,000.
What are key features of this property?
This property features: Opportunity Zone location offering potential capital gains tax savings for qualified investors.; New construction of **19 multi‑family units** in a rapidly developing downtown area.; Prime infill location in Cathedral City experiencing a major development renaissance.
