Shopping Cart

You have no items in your shopping cart.

Property Detail

84141 Ave 48, Coachella, CA 92236, USA
Partially built resort located at the gateway to the City of Coachella
$30,000,000

Description

INVESTMENT HIGHLIGHTS

  • Discount to replacement cost - post renovation the basis will be significantly below replacement cost. Basis further lowered by value components
  •  
  • Large 35 acre site - fee simple, includes 51 built casitas and multiple outparcels for further development
  •  
  • Construction approximately 65% completed. Approx $55 million spent to date.
  • Lender owned - Property became REO following long bankruptcy process
  •  
  • Closest lodging to site of Coachella and other Music festivals held at Empire Polo Club. 2.5 hours from 22 million people in So Cal
  •  
  • TOT Rebate - $25 million TOT rebate (50% rebate for 20 years)

EXECUTIVE SUMMARY

Maxim Hotel Brokerage, Inc. is pleased to present an exclusive listing on a foreclosed, partially built resort located at the gateway to the City of Coachella, CA. While unaffiliated in any respect with any of the "Coachella" festivals, the destination is within 3.0 miles from Empire Polo Club (the site for Coachella and Stagecoach Festivals) and within two hours drive of Southern California’s 22-million-person population base. The Property is approximately 65% complete, since work stopped in late 2019 and the Lender recently obtained title through foreclosure. The 35-acre resort is designed to create its own entertainment oriented destination. Unencumbered by brand or management, a visionary developer will seize the opportunity to finish construction and present a brand new boutique resort to Coachella Valley's world class boutique destination hotel and resort market.
 
 

AMENITIES

  • Fitness Center
  • Pool
  • Restaurant
  • Spa
  • On-Site Retail
  • High Speed Internet Access
  • On-Site Bar
  • Destination Resort
  • Public Access Wifi

ROOM MIX INFORMATION

DESCRIPTIONNO. ROOMSDAILY RATESF
Suite2$380.00-
Guest Room248$233.00

 

PROPERTY TAXES

 

Harry Pflueger

+1 949-759-8739

Specification

General

  • 187500
  • 35.0000
  • Investment
  • CG (General Commercial - Resort being developed under approved Development Agreement.)
  • 2018
  • 250

Hospitality

Coachella Resort

# 179

SKU: 179

Property Enquiry Form

Please fill the form below to know more about the property