$4,870,000

'Nova at Ranch Mirage' provides a rare opportunity for a homebuilder to acquire 9 partially improved or near-fully finished lots (the lots are under construction now). This property and project offering includes a final recorded map, with lot sizes from 15,246 to 16,988 sq. ft., with modern high-end homes being planned averaging 4,020 sq. ft. with casitas, and expected home price points in the high $2M's to low $3M's (similar to other active projects in the area). Rancho Mirage is known as one of the most affluent cities in Riverside County with an average household income of $131,147. Some of America's finest golf courses, most exclusive residential communities, and international events such as the annual Kraft Nabisco Championship are found here. Many famous people have made Rancho Mirage their home including President Ford upon his retirement from the U.S. Presidency. Home to the Valley's premium resorts, Rancho Mirage lodging properties recently collectively invested over $900 million in renovations and reconstructions. The Agua Caliente Casino Resort Spa is the Valley's only regional skyscraper property with 24- hour gaming. The Ritz-Carlton Rancho Mirage opened early 2014 after undergoing a major $60 million renovation and is the only Five-Star lodging property in the region. The subject property is located across the street from the Westin Mission Hills Golf Resort & Spa with 36 holes open to the public at reasonable rates year round.