61850 Chollita Rd Joshua Tree, CA 92252
- Assisted living facilities
- 11,926 SF
- 0.82 lot acres
Current Use by Public Records
- Assisted living facilities
Property Details for 61850 Chollita Rd
- Year built
- 1964
- Construction
- WOOD
- Lot size
- 0.82 lot acres
- Property size
- 11,926 SF
- Property type
- Assisted living facilities
- Property subtype
- Retirement homes
- APN
- 0603-222-25-0000
- APU
- 603222250000
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,675,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,190,000
- 6.5%
- $2,355,000
- 7%
- $2,510,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,065,000
- Geo Method
- $2,225,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,700,000
- Retail
- $2,450,000
- Mixed-Use
- $2,380,000
- Hospitality
- $2,750,000
- Educational
- $2,235,000
- Residential Income
- $2,875,000
- Energy
- $2,170,000
- Income-Based Land
- $2,230,000
- Food Service
- $2,895,000
Location Insight
- Map
- Local Demand
- City
- Joshua Tree
- County
- San Bernardino
- State
- California
- Longitude
- -116.314
- Latitude
- 34.1378
- CBSA code
- 40140
- CBSA name
- RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA
