LAND PARCELS in Opportunity Zones FOR SALE Coachella Valley, California
Coachella La Quinta
Augustine Casino
Thermal Airport Blvd Rancho Coachella Business Center Jacqueline Cochran Regional Airport
Jackson St Harrison St Van Buren St
Avenue 60 HITS Horse Show
Schools
FOR MORE INFORMATION
TRACY ALTEMUS, CCIM RONI GOULD GARY FUNTAS Ensemble Real Estate Solutions Ensemble Real Estate Solutions RB & Associates [email protected] [email protected] [email protected] 602/443-4022 562/628-0585 760/564-1018 ensemble.net License #1895408 License #00991753 License #01367331 LAND PARCELS FOR SALE Coachella Valley ■ California CONTENTS -2-
Land Parcels 3
Opportunity Zones 4
Site 1 Polo 5-6
Site 2 Casiano 7-8
Cannabis Friendly Location 9
Area Profile 10
Area Demographics 11
Pre-Development Work Performed 12
FOR MORE INFORMATION
TRACY ALTEMUS, CCIM RONI GOULD GARY FUNTAS Ensemble Real Estate Solutions Ensemble Real Estate Solutions RB & Associates [email protected] [email protected] [email protected] 602/443-4022 562/628-0585 760/564-1018 License #1895408 License #00991753 License #01367331 LAND PARCELS FOR SALE Coachella Valley ■ California LAND PARCELS -3-
SITE LOCATION APN ACRES PRICE/ACRE
1 Polo Van Buren St / Avenue 60, Thermal, CA 92274 764-310-005 9.51 $45,000
764-310-006 9.51 $45,000
764-310-007 38.18 $45,000
Total acres 57.20 $45,000 per acre
2 casiano 64th Ave / Grapefruit Blvd, Thermal, CA 92274 749-060-008 40.00 $30,000
In Escrow 749-060-024 26.68 $30,000
749-060-022 0.28 $30,000
Total acres 66.96 $30,000 per acre LAND PARCELS FOR SALE Coachella Valley ■ California OPPORTUNITY ZONES -4-
WHAT ARE THEY? WHAT ARE THE TAX BENEFITS?
Congress created the federal Qualified Opportunity Zone (“QOZ”) Investors in QOZs can receive both deferral on capital gains taxes on program in the 2017 “Tax Cuts and Jobs Act” to encourage investments the profit of which is rolled over into an O Fund (within economic growth in under served communities through tax benefits 180 days of the sale to an unrelated party) as well as an exclusion to investors. U.S. states and territories, including Washington, DC, from tax of up to 15% of those gains. Plus, full exclusion of those nominated areas (by census tract) to be designated as QOZs in gains earned by deferred-gains investments within the O Fund is 2018, and the IRS and Treasury finalized the designations that year. available. This program presents opportunities for real estate investment and development in distressed communities.
ADDITIONAL RESOURCES
Opportunity Zones California FAQ
Opportunity Zones IRS FAQ LAND PARCELS FOR SALE Coachella Valley ■ California SITE 1 POLO Total Acres 57.20 $45,000/acre
Van Buren St / 60th Ave, Thermal, CA 92274
HITS Horse Show
PGA West
Monroe St Jacqueline Cochran Regional Airport Palms Golf Club
Andalusia at Coral
Mountain Resort
Jackson St St Jackson Jackson
Van Buren St St Buren Buren Van Van
Avenue 60
Trilogy Golf Club
South Valley Pkwy LAND PARCELS FOR SALE Coachella Valley ■ California SITE 1 POLO Total Acres 57.20 $45,000/acre -6- Van Buren St / Avenue 60, Thermal, CA 92274
Avenue 60
Located in the Vista Santa Rosa neighborhood and in the sphere of influence of the City of La Quinta this property is prime for upscale housing developments. Within a mile and a half are communities such as Trilogy by Shea Homes, PGA West and Andalusia with their million-dollar homes and golf courses. Just across the street is an approved tentative map for 301 lots for
single family homes. Not far is the Jacqueline Cochran Van Buren St Buren Van – Regional Airport, HITS Horse Show, Augustine Casino St Buren Van and the Coachella Music Festival. From this property are beautiful views of the Santa Rosa Mountains and the
quiet serenity of the desert.
A menities 749-310-005 APN 749-310-006 APN 749-310-007 APN • Zoned light agriculture A-1-10 9.51 acres 9.51 acres 38.18 acres • General plan land use residential • Electricity to site $45,000/acre $45,000/acre $45,000/acre • Canal Water • Abandoned fresh water well site • In Opportunity Zone LAND PARCELS FOR SALE Coachella Valley ■ California SITE 2 CASIANO IN ESCROW Total Acres 66.96 $30,000/acre -7-
Grapefruit Blvd / 64th Ave, Thermal, CA 92274 64th Ave
Grapefruit Blvd
64th Ave LAND PARCELS FOR SALE Coachella Valley ■ California
-8- SITE 2 CASIANO IN ESCROW Total Acres 66.96 $30,000/acre
64th Ave / Grapefruit Blvd, Thermal, CA In Escrow
Within the neighborhood of Oasis and the municipality of Thermal this property is good farm land. The property has been farmed for the last five years with Grapefruit Blvd success growing everything from okra to current crop of tomatoes. In addition to a CVWD Canal water meter it also has a reservoir. Easy access to the 86 Expressway it’s a short drive to all points East or West for shopping,
entertainment, housing, etc.
A menities
• Great visibility from I-III and 86 • Zoned heavy agriculture A-2-10 • General plan land use residential • General plan land use vacant land
• Electricity to site 749-060-008 APN 749-060-024 APN 749-060-022 APN • Canal Water 40 acres 28.68 acres 0.28 acres • In Opportunity Zone $30,000/acre $30,000/acre $30,000/acre LAND PARCELS FOR SALE Coachella Valley ■ California CANNABIS FRIENDLY LOCATION -9-
Riverside County per their Commercial Cannabis Activity Ordinance (Ordinance No. 349.4898) is currently considering land use permits that include Commercial Cannabis Cultivation or Cannabis, Cannabis production and sales.
The Coachella Valley is recognized as the cannabis capital of California
Coachella offers the perfect regulatory climate for companies due to the local government’s pro business position and preferred tax structure and for this project. (Ordinance No.1101) LAND PARCELS FOR SALE Coachella Valley ■ California AREA PROFILE -10-
Coachella Valley is a desert valley in Southern California extending for approximately 45 miles in Riverside County southeast from the San Bernardino Mountains to the northern shore of the Salton Sea. Coachella Valley is sometimes referred to as the “Desert Empire” to differentiate it from the neighboring urbanized Inland Empire and the Imperial Valley. The valley contains the resort cities of Palm Springs and Palm Desert, as well as Rancho Mirage, Indio, La Quinta, Indian Wells and Cathedral City altogether with a population of almost 500,000 in April, declining to around 200,000 in July and rising to around 800,000 by January. Separate from the Inland Empire, it is also a small to medium-sized metropolitan area consisting of Palm Springs, Indio, and other smaller incorporated cities, consolidated into the Coachella Valley; and it can be sometimes referred to as the Palm Springs/ Indio metropolitan area as well. Coachella Valley connects with the core of the Greater Los Angeles to the west via the San Gorgonio Pass, a major transportation corridor that includes Interstate 10 and the Union Pacific Railroad. There is a large population of seasonal residents in the winter months, known as snowbirds, which at peak times may surpass 100,000 with another 3.5 million annual conventioneers and tourists.
Thermal is an unincorporated community within the Coachella Valley in Riverside County, California located approximately 25 miles southeast of Palm Springs and about 9.5 miles north of the Salton Sea. The community’s elevation is 138 feet below mean sea level. Thermal has a desert climate. High mountain ranges on three sides contribute to its unique and year-round warm climate, with some of the warmest winters west of the Rocky Mountains. There are several schools in the Coachella Valley Unified School District that are in and near the community. Thermal Airport is about 1.6 miles southwest of the community. The Union Pacific Railroad owns and operates the former Southern Pacific Railroad mainline through Thermal. ■ 2/7/2019 LAND PARCELSBusiness AnalystFOR SALE Coachella Valley California -11- AREAK eDEMOGRAPHICSy Facts Desert Diamond 5 miles Out WITHIN 5P rMILESepared by Ensemble Real Estate Solutions Area: 154.53 square miles
KEY FACTS EDUCATION
63,758 28.3 Population 50% Median Age No High 16% School 4.0 Some College $39,787 Diploma 23% 11% Average Median Household High School Bachelor's/Grad/Prof Household Size Income Graduate Degree
BUSINESS EMPLOYMENT
28% White Collar 46% 11.9% Blue Collar 643 12,197 Unemployment 27% Rate Total Businesses Total Employees Services
INCOME Households By Income The largest group: $50,000 - $74,999 (17.1%) The smallest group: $150,000 - $199,999 (2.7%) Indicator Value Difference <$15,000 14.3% +5.1% $15,000 - $24,999 15.6% +6.5% $25,000 - $34,999 13.7% +5.0% $35,000 - $49,999 16.1% +3.9% $50,000 - $74,999 17.1% -0.1% $75,000 - $99,999 7.4% -5.5% $100,000 - $149,999 8.2% -8.1% $150,000 - $199,999 2.7% -4.7% $39,787 $16,767 $28,660 $200,000+ 4.9% -2.2%
Median Household Per Capita Income Median Net Worth Income Bars show deviation from Riverside County
Source: This infographic contains data provided by Esri, Esri and Infogroup. The vintage of the data is 2018.
https://bao.arcgis.com/esriBAO/index.html?portal=ccim.maps.arcgis.com# 1/1 LAND PARCELS FOR SALE Coachella Valley ■ California PRE-DEVELOPMENT WORK PERFORMED -12-
POLO CASIANO FARM Geotechnical Report Geotechnical Report Geotechnical Report Phase I Phase I Phase I Topography Survey Topography Survey Topography Survey ALTA Survey ALTA Survey ALTA Survey Canal Water Assessment Report Paleontological Report
Owner withdrew request prior to being entitled
FOR MORE INFORMATION
TRACY ALTEMUS, CCIM RONI GOULD GARY FUNTAS Ensemble Real Estate Solutions Ensemble Real Estate Solutions RB & Associates [email protected] [email protected] [email protected] 602/443-4022 562/628-0585 760/564-1018 ensemble.net License #1895408 License #00991753 License #01367331 LAND PARCELS FOR SALE Coachella Valley ■ California
FOR MORE INFORMATION
TRACY ALTEMUS, CCIM RONI GOULD GARY FUNTAS Ensemble Real Estate Solutions Ensemble Real Estate Solutions RB & Associates [email protected] [email protected] [email protected] 602/443-4022 562/628-0585 760/564-1018 ensemble.net License #1895408 License #00991753 License #01367331