68550 Grove Street, Cathedral City, CA 92234 (MLS# 219138249)

68550 Grove Street, Cathedral City, CA 92234

$10,950,000
Property Type: Residential Income Bedrooms: 24 Baths: 43 Square Footage: 19,868 Status: Active
Current Price: $10,950,000 List Date: 11/05/2025 Last Modified: 3/13/2026

Overview

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.

Listing Details MLS# 219138249

General Property Information

Total Units
19
Total Bedrooms
24
Full Baths
28
Half Baths
15
Total Baths
43
Approx SqFt
19868
SqFt Source
Builder
Fireplace
No
Building # of Stories
3
Pool
No
Lot Size Source
Assessor
Year Built
2025
Cross Streets
Grove Street & Cathedral Canyon Drive

Property Features

Sale Type: Standard Listing Terms: 1031 Exchange; Cash; Cash to New Loan View Type: Mountain(s); Panoramic Property Condition: New Construction Disclosures: None Levels: Three Or More Flooring: Vinyl Cooling Type: Air Conditioning Heating: Forced Air Rooms: Den - Study Security Safety: Fire Alarm; Fire Sprinkler System Sewer: In, Connected and Paid Parking: Assigned; Garage Door Opener; Guest Land Lease Type: Fee Simple

Listing Location and Property Info

APN
687195013
Original List Price
11950000
Property Sub-Type
Apartment
Street #
68550
Street Name
Grove
Street Suffix
Street
County
Riverside
State
CA
Zip Code
92234
Area
336 - Cathedral City South
Country
US

Listing Info

Number of Buildings
Yes

Tax Info

Tax Mello Roos
No

Property Info

Senior Community
No
Gated Community
No
View
Yes

More Information

Status Change Info

Status Change Date
2025-11-05

Counts

# Electric Meters
19
# Water Meters
Yes

Parking SpacesInformation

Total Garage Spaces
20
Total Parking Spaces
39

Listing, Location and Property Info

New Construction
Yes
Entry Date
2025-11-05
Land Type
Fee

Sale Type

Standard
Yes

Listing Terms

1031 Exchange
Yes
Cash
Yes
Cash to New Loan
Yes

Parking Spaces/Information

Total Covered Spaces
0
Total Uncovered/Assigned Spaces
19

View Type

Mountain(s)
Yes
Panoramic
Yes

Property Condition

New Construction
Yes

Disclosures

None
Yes

Levels

Three Or More
Yes

Flooring

Vinyl
Yes

Cooling Type

Air Conditioning
Yes

Heating

Forced Air
Yes

Rooms

Den - Study
Yes

Security Safety

Fire Alarm
Yes
Fire Sprinkler System
Yes

Sewer

In, Connected and Paid
Yes

Parking

Assigned
Yes
Garage Door Opener
Yes
Guest
Yes

Land Lease Type

Fee Simple
Yes
Listing Office: Real Brokerage Technologies
Listing Agent: Ethan Mezrahi
Last Updated: March - 13 - 2026
Information deemed reliable but not guaranteed.

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