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.