Millman Team Real Estate

$11,950,000
0.68 Acre Lot

68550 Grove Street, Cathedral City, California 92234

  • Residential Income Property Type
  • Garage Cars Garage
  • 2025 Year Built
Property Description

The Jasper is a one-of-a-kind opportunity to acquire 19 Multi-Family Units (currently under construction and estimated to be completed in Q1 2026) with an infill downtown location in fast-growing Cathedral City, which is currently experiencing a major development renaissance. This well-located property is off of the main arterial road ”Hwy. 111/East Palm Canyon Drive” and is nearby the newly constructed and opened ”Agua Caliente Casino” which created over 500 new jobs, with over 500 new slot/gaming machines & table games, and several new restaurants. Additional new retail is under construction to the east including Starbucks, Chipotle, Farmer Boys, and Circle K. This project is truly a prime pedestrian-oriented development. Furthermore, The Jasper is located within the state’s Qualified Opportunity Zone (rare for superior locations like this), which can allow for significant capital gains tax savings for qualified investors.

Basic Details
Residential Income
For Sale
219138249DA
$11,950,000
Mountain(s), Panoramic
2025
0.68 Acre
Active
1
1
Features
: Forced Air
: Garage, Garage Door Opener, Guest, Assigned
: Vinyl
$0
Address Map
CA
Riverside
Cathedral City
Cathedral City Cove
92234
Grove
68550
Street
Cross Streets: Grove Street & Cathedral Canyon Drive
336 - Cathedral City South
Additional Information
$0
$0
$0
$0
$0
20.0
: Three Or More
19
2025-11-05
3
Broker/Agent Information
Real Brokerage Technologies
Ethan Mezrahi
Listing Information
Erik Christianson
CDAR-D77771
CDAR-o D21915
The Hoffman Company
CDAR-D82736
CDAR-oD23353
Cash,Cash to New Loan,1031 Exchange
Active
2025-11-05T18:10:50Z
CRMLS
: Standard
2025-11-04T22:00:00Z
Agent info
Ray Millman
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