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NOI Net Operating Income N/A
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Attributes

Land Area ()

Property Description

The Property is an approximately 37-acre lot located just north of the Mission Hills Country Club. It is situated at the northwest corner of Rattler Road and Ramon Road in the northern part of the City. The Site is unimproved and relatively flat, with non-expansive soil conditions. In addition to the Mission Hills Country Club, the Property is within a few miles of the Agua Caliente Resort, Westin Mission Hills Golf Resort, and Desert Princess Country Club. Rancho Mirage High School, the newest school in the Palm Springs Unified School District, is adjacent

to the Site.


The Site could accommodate 199 single-family residential lots with an average area of 8,000 square feet. To take advantage of surrounding mountain views, the lots could be designed to be east or west-facing. The Property also has space for community amenities such as a central park, dog park, and extensive greenbelt throughout. A homeowner’s association (HOA) would need to be formed to fund the maintenance of the common areas and amenities.


The Site is accessed via the Bob Hope exit off Interstate-10 (I-10), which connects to Rattler Road. A future entry to the property is envisioned approximately 700 feet north of the intersection of Rattler and Ramon Roads.

Investment Highlights

Premiere location next to top vacation and resort destinations including the Mission Hills Country Club and Agua Caliente Resort.


Ability to build up to 199 high density residential lots in one of the Coachella Valley’s top residential markets. As of September 2020, the median home value in Rancho Mirage ($747,000) was 46% higher than the Coachella Valley as a whole ($510,000).


Successfully securing entitlements for the Property could potentially allow for a greater density and intensity of uses than the City’s Zoning Code allows. Accordingly, a developer could be permitted to develop additional units or amenities that are currently not offered at surrounding residential communities.


Opportunity to develop units within a fast-growing market that is projected to experience a 4% growth in population in the next five years. Prime location adjacent to Rancho Mirage High School offering a strong athletics program, musical theater, and college preparatory resources.


Favorable market dynamics as increasing numbers of coastal dwellers migrate to more affordable Coachella Valley cities, fueled in part by the widespread acceptance of remote work due to Covid-19. 

Last Updated Date: 19 Mar 2021
Brendan McArthur
Brendan McArthur
Senior Director, Capital Markets
License details
CA- 01185335
Jeff Adkison
Jeff Adkison
Managing Director, Capital Markets
License details
CA-01190791

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Last Updated Date: 19 Mar 2021

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