tomo logo

$2,050,000

Beds
17
sq ft
13,451

61850 Chollita Rd, Joshua Tree, CA 92252

61850 Chollita Rd

Joshua Tree, CA 92252

  • 348 days on market
    • Price drop $200,000↓
Prime investment opportunity in the heart of Joshua Tree! This unique property features FIVE freestanding buildings with a total of 24,000sf of livable space, set on a sprawling 1.63 acre lot. Originally built in 1988 as a retirement home, the property is zoned JT/RM, making it perfect for repositioning into a 32-unit multifamily apartment building with a pool. All structures are intact, offering an efficient and cost-effective development process without the need for ground-up construction. Pre-planning comments for 32-unit development are already in hand, streamlining the path to realization. Whether you are looking to create a rehab facility, retreat center, or a lucrative apartment complex, this property offers endless possibilities. Centrally located in Joshua Tree, just one block away from all the shops and restaurants and a five minute drive to the National Park.

Details

Property type

Property condition

Fixer

Lot size

1.63 acres

Price per sq ft

$153

Year built

1964

HOA

No

Price History

07/11/2024
CLAW

CLAW #24345117

Price change
$2,050,000
-8.89%
01/20/2024
CLAW

CLAW #24345117

Listed
$2,250,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Mid Valley Services Inc

Loan start date

August 2021

Original loan amount

$1,375,000

Est. remaining balance

Not provided

Interest rate

2.93%

Loan type

Commercial

Seller

Radify Joshua Tree Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 12/24/2024 at 8:35 PM

Listing updated: 12/05/2024 at 2:37 PM

Listed by: Shawn S. Kormondy, Keller Williams Beverly Hills Phone #: (310) 432-6400

MLS: CLAW #24345117

CLAW logo

Recently listed in Joshua Tree