75 ACRES PRIME FARMGROUND
COACHELLA VALLEY
MTI RANCH
FEATURES
- Prime farmground with excellent soil for a variety of crops
- Ideal climate produces first-to-market crops
- Affordable Coachella Valley Water District (CVWD) irrigation water, one of the lowest water rates in California
- In Opportunity Zone providing attractive tax incentives
- Easy access to Expressway 86
ASKING PRICE: $1,353,420 ($18,000/AC)
VICINITY MAP
Amenities
- Location: Property is located east of Pierce St & north of Avenue 66 in Thermal, CA. The address is 89095 Avenue 65, Thermal.
- APN/Parcel Sizes: Total of 75.19 acres – 749-070-005 (39.4 AC), 749-080-010 (4.68 AC), 011 (31.11 AC)
- Zoning: A-1-10 (Light Ag, 10-acre min. lot size)
(Click here for RivCo Zoning Ordinance) - General Plan: Agriculture
- Utilities: Water: No domestic water in the area
Sewer: 18” Force Main on Pierce St at Avenue 65
Irrigation Water: Meter #4708 - Tile Drains: Yes; TD-268
- Soils Type: GcA (Gilman fine sandy loam, wet, 0-2% slopes), Ir (Indio fine sandy loam, wet), & It (Indio very fine sandy loam, wet)
- Current Use/Highest & Best Use: Vegetable farmground
- Lease: Leased until 6/30/26. Seller may terminate the lease in the event of a sale.
- Comments: Unique opportunity to acquire 75 acres of prime farmground with easy access to Expressway 86 & I-10.
WHAT IS AN OPPORTUNITY ZONE?
Why is investing in an Opportunity Zone better than a 1031 Exchange?
Temporary Deferral: Similar to a 1031 Exchange.
Step-up in Basis: After 5 years capital gains basis is increased by 10% and by an additional 5% if held for at least 7 years, thereby excluding up to 15% of the original gain from taxation.
Permanent Exclusion: After 10 years the capital gains are permanently excluded from taxable income.
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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warrant or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions assumptions or estimates used are for example only, and do not represent the current or future performance of the property. ref: 07/05/24 JC
Susan Harvey, Broker
[email protected]
Cell: 760.250.8992
DRE License #00957590
Ranked #1 in the Coachella Valley for Commercial Real Estate
Emily Harvey, Broker
[email protected]
Mobile: 760.636.3500
DRE License #02229612