61850 Chollita Rd, Joshua Tree, CA 92252-2328
This exceptional Joshua Tree investment presents a unique redevelopment opportunity. The property encompasses a 1.63-acre lot (71,002 sq ft) featuring five existing freestanding buildings totaling 24,000 square feet of net rentable space. Originally constructed in 1964, these structures are currently zoned JT/RM, providing significant flexibility for adaptive reuse. Pre-planning comments for a 32-unit multifamily development are already available, streamlining the approval process. The property's central location in Joshua Tree offers convenient access to local amenities, situated just one block from shops and restaurants, and a short five-minute drive to Joshua Tree National Park. This presents a cost-effective alternative to ground-up construction, allowing for efficient repositioning into a multifamily apartment complex, senior care facility, or other suitable mixed-use development. The asking price is $2,050,000. The property's single story configuration and existing infrastructure minimize initial development hurdles. This is an ideal opportunity for investors seeking a high-return project in a desirable location. APN: 0603-222-25-0000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
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Costs & Benchmarks
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Risks
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