52 Single-Family Detached Build-For-Rent Lots Coming Soon to Cathedral City
Land Advisors Organization is pleased to announce the closing of 52 Single-Family detached Lots within the Escena master planned community. The lots were sold to a Private Builder, who intends to develop the site as a build-for-rent community. The 52 lots have a recorded final map and are in a blue-top condition. The balance of the Escena Master Plan, located in Palm Springs, is currently being offered for sale and includes entitlements for more than 800 units, an existing golf course, clubhouse and restaurant.
Escena embodies the ideal blend of scenery, style, location and accessibility. The centerpieces of this 360-acre master planned community are the Escena Golf Club and the Escena Lounge & Grill, which are open to the public and consistently rank among the most popular visitor destinations in Palm Springs.
The Escena Clubhouse, a stunning white-steel and glass tribute to the area’s modernist architecture, provides residents with a lively social hub and sets the tone for architectural excellence throughout the community. Home sites feature jaw-dropping views of the surrounding landscape and the towering San Jacinto Mountains. Inside the gated community, residents enjoy the proximity to not only some of the area’s best dining and golf, but can also choose to enjoy the setting from their own patios or explore Palm Springs and beyond without the pressures of club dues or minimums.
The Coachella Valley market has been red-hot over the past 12 months, with home prices up approximately 17% and new home prices continuing to soar with less than 1 month supply of inventory. Toll Brothers at Escena, the neighboring actively selling community, currently has an absorption rate of 6.5 home sales a month.
The Coachella and Master Planned Community Land Teams at Land Advisors consisting of David Landes, Terry Ruckle, Mac O’Donnell, Chris Shiota, Kwame Do and Erin Gonzalez represented the Seller, New Valley Realty, in this transaction. Terms of the deals are confidential.