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BANK REO LISTING!

NEARLY FINISHED EXCLUSIVE RIO DEL SOL

MASTER PLAN COMMUNITY

 

177 SFD Lots
Cathedral City, CA

LOCATION: Rio del Sol is an exclusive 500+/- unit guard-gated residential planned community ("Project") in Cathedral City, CA 92264. Located on Gerald Ford Road, just east of Date Palm Drive. The site is minutes from world-class golf and resort destinations such as the Pete Dye Challenge Course and Dinah Shore Tournament Course at Mission Hills Country Club, the Arnold Palmer Course at PGA West, and many others.
   
PROPERTY:

177 SFD lots - finished and partially completed residential lots, on Bureau of Indian Affairs leased land (until 2070), in recorded Final Tract Map #28561 and #28561-1. The Project's manned guard gate, lake/fountain feature, clubhouse, community pool, and tennis courts create a great Project entry; you have to see the property to appreciate it:

  • About half the recent Rio del Sol home re-sales were from $350,000.
  • The Residential Lot Sublease is beneficial to homeowners.
  • New home products can be ready for Fall 2011 sales. The community backbone infrastructure is in.
  • 30+ lots are physically finished with some remaining punch list work. The remaining lots are graded with utilities stubbed for quick, easy and economical phasing.
  • 3 basic lot widths accommodate different SFD products.
   
PRICE:

Reduced about 50% to $1,593,000.

   
OFFERS/COMMENTS:

This property is lender owned and sold "As-Is, Where-Is." Please follow the below steps for submitting offers:

  • Submit letter of intent (please no CAR forms) at the earliest possible time with proof of funds. Preference will be given to all cash offers proposing short Due Diligence and Escrow periods.
  • Seller reserves the right to accept or reject any offer(s), at any time, without notice.
  • Seller's formal Purchase and Sale Agreement provides for an "As-Is, Where-Is" transaction.
  • Buyer must rely solely upon buyer's independent investigations and due diligence. The attached Disclaimer applies
  • The Seller's rights, title and interest as Master Lessee under the Bureau of Indian Affairs Master Ground Lease is available, but in a separate transaction. In 2010, the Master Lessee's net proceeds was over $85,000 and will grow over time. Please contact Larry Lynch at Korek Land Company, Inc. for more information.
CONTACT:

Larry Lynch (DRE 01180573) at 818-787-3077; cell 310-919-7803 for additional information. Submit buyer's contact information along with request.

EMAIL REQUEST FULL PACKAGE

 

 

DISCLAIMER NOTICE TO BUYER: The above information contained herein was obtained from third parties, and it has not been independently verified by the real estate brokers. Buyer should have the experts of their choice inspect the property and verify all information. Real estate brokers are not qualified to act as or to select experts with respect to legal, tax, environment, zoning, building construction, soils-drainage, or other such matters. Please click here to view our full disclaimer.

 

Licensed in California and Nevada
CA DRE Lic. 00861992 | NV RED Lic. B.1001306.Corp

Korek Land Company, Inc.
15230 Burbank Blvd., Suite 101 | Sherman Oaks, CA 91411 | 818-787-3077 | mail@korekland.com