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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:
1/16/2026
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.
More Information MLS# 219138249
Listing, Location and Property Info
New Construction: Yes
Entry Date: 2025-11-05
Land Type: Fee
General Property Information
Total Units: 19
SqFt Source: Builder
Fireplace: No
Building # of Stories: 3
Pool: No
Total Bedrooms: 24
Full Baths: 28
Half Baths: 15
Total Baths: 43
Approx SqFt: 19868
Lot Size: 29621
Lot Size Source: Assessor
Year Built: 2025
Cross Streets: Grove Street & Cathedral Canyon Drive
Listing Info
Number of Buildings: 1
Tax Info
Tax Mello Roos: No
Property Info
View: Yes
Senior Community: No
Gated Community: No
Counts
# Electric Meters: 19
# Water Meters: 1
Sale Type
Standard: 1
Listing Terms
1031 Exchange: 1
Cash: 1
Cash to New Loan: 1
Parking Spaces/Information
Total Covered Spaces: 0
Total Uncovered/Assigned Spaces: 19
View Type
Mountain(s): 1
Panoramic: 1
Property Condition
New Construction: 1
Disclosures
None: 1
Levels
Three Or More: 1
Flooring
Vinyl: 1
Cooling Type
Air Conditioning: 1
Heating
Forced Air: 1
Rooms
Den - Study: 1
Security Safety
Fire Alarm: 1
Fire Sprinkler System: 1
Sewer
In, Connected and Paid: 1
Parking
Assigned: 1
Garage Door Opener: 1
Guest: 1
Land Lease Type
Fee Simple: 1
Listing Location and Property Info
APN: 687195013
Status: Active
Listing Date: 2025-11-05
Original List Price: 11950000
List Price: $10,950,000
Current Price: $10,950,000
Property Sub-Type: Apartment
Street #: 68550
Street Name: Grove
Street Suffix: Street
County: Riverside
State: CA
Zip Code: 92234
Area: 336 - Cathedral City South
Subdivision: Cathedral City Cove
Country: US
Status Change Info
Status Change Date: 2025-11-05
Parking SpacesInformation
Total Garage Spaces: 20
Total Parking Spaces: 39
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 Office:
Real Brokerage Technologies
Listing Agent:
Ethan Mezrahi
Last Updated: January - 16 - 2026
Information deemed reliable but not guaranteed.