68550 Grove Street Cathedral City, CA ^$ 11,950,000

68550 Grove Street

^$ 11,950,000

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New Construction

68550 Grove Street

Cathedral City, CA, 92234

^$ 11,950,000

Bedrooms24 Baths28.15 Sq 19,868

Monthly Estimate*

^$ 74,552

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Multi-Family Home for sale in Cathedral City, CA

for $11,950,000 with 24 bedrooms and 28 full baths, 15 half baths. This 19,868 square foot home was built in 2025.

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.

Multi-Family Active

Price

^$ 11,950,000

Bedrooms

Full Bath

Half Bath

Property Type

Multi-Family

Taxes

^$ 0

Style

Apartment

Year Built

2025

Town/City

Cathedral City

County/Region

Riverside

MLS | Web ID

219138249

Features

General

Living Area 19868.0

Sewer In Connected and Paid

Heating Forced Air

Cooling Air Conditioning

Garage Spaces 20.0

Security Features Fire Alarm Fire Sprinkler System

3/4 Baths 0

Full Baths 28

Half Baths 15

Year Built 2025

View Panoramic Mountain(s)

Levels Three Or More

Property Subtype Apartment

County Riverside

New Construction Yes

Property Type C

Subdivision Name Cathedral City Cove

Status Active

City Cathedral City

Senior Community Y/N No

MLS Area 336 - Cathedral City South

Lot Size Square Feet 0.0

Carport Spaces 0.0

Listing Terms Cash to New Loan Cash 1031 Exchange

Property Condition New Construction

Walk Score 0

Standard Status Active

Interior

Flooring Vinyl

Total Stories 3

Air Conditioning Y/N Yes

Heating Y/N Yes

Fireplace Y/N No

1/4 Baths 0

Total Bathrooms 43.0

Total Baths 43

Total Bedrooms 24

Exterior

Parking Features Assigned Total Uncovered/Assigned Spaces Garage Door Opener Guest

Total Parking 39.0

Lot Size Area 29621.0

Spa No

Pool Y/N? No

Building Area Total 19868.0

Lot Size Acres 0.0

Lot Size Source Assessor

Land Lease Type Fee

* Excluded Features

List By

Ethan Mezrahi

Listing Agent

Real Brokerage Technologies

Broker

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$74,552

Per Month

Monthly Principal & Interest: $74,552
Monthly Property Taxes: --
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Cathedral City, CA

Average List Price ^$2,140,368

Percent of Sale Price 82%

About Cathedral City, CA

53,440 Population

25% Since 2002

^$42,908 Median Income

38.24 Median Age

31% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

793437 Elementary School

793428 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
11/5/2025	$11,950,000		Listed Price

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68550 Grove Street, Cathedral City, CA, 92234 is a Multi-Family Home for sale at $11,950,000 with 19,868 sqft. 68550 Grove Street has 24 bedrooms, 28.15 baths, and was built in 2025. The property's zip code is 92234 which is in Cathedral City, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the California Desert Association of Realtors.

Based on information from the California Desert Association of REALTORS® as of 11/5/2025. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the California Desert Association of Realtors. Real Estate listings held by brokerage firms (licensees) other than Weichert Realtors include the name of the listing brokers.

The information being provided is for consumers' personal, non-commercial use and may not be reproduced or redistributed. Its sole purpose is to be used to identify prospective properties consumers may be interested in purchasing.

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68550 Grove Street

Multi-Family Home for sale in Cathedral City, CA

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