Jefferson StLa Quinta, CA 92201

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.