La Quinta Equestrian Estate: Back on the market for the season, and my sellers are SERIOUS! Total price reduction of $750,000 to our new List Price of $3,200,000. An independent appraisal was done in August of 2016, and that is what we have based our reduced List Price on. 55075 Monroe St., in La Quinta is a turnkey 4 acre estate, located near to the Coachella Music Festival grounds. This property has an estimated 6% CAP rate based on the current list price return as a Luxury Lease Event site! That means you could buy your dream Equestrian estate, stay in it for the winter, and lease it out (not the barn/paddocks!) for the 5 Music Festival weekends, or as many events as you are open to. Call me for your personal tour today. 760-285-3578
Tally Ranch is a unique Equestrian Property in the Coachella Valley. Located within the city of La Quinta, is the first unusual feature…it’s very rare to find large parcels in the La Quinta city limits. Zoned for up to 5 animals/acre, the main home is packed with custom upgrades. Interlocking pavers abound, custom stone on the exterior and interior, reclaimed wood ceilings, incredible granite slabs, high end appliances, an outdoor Pool entertainment space that includes a huge eat bar. There is an incredible Casita which offers a sky deck for incredible star gazing, and mountain views.
There on only ONE La Quinta Equestrian/event property within the City of La Quinta for sale at this time on 4 or more acres! Suppose you are looking for a Hobby Horse property for your show horses, but would like more acreage? That could become a reality because the contiguous 4 acre parcel could be purchased under separate contract; creating over 8 acres of PRIME La Quinta property.
When the property is used for Events, the tenants use just the main home, Casita and Pool area. The Barn and horse facilities are off limit. The different opportunities to expand or change the current layout of Tally Ranch are multiple. The 12-car garage sports A/C, heat, and is completely finished. One idea is to convert a section of the garage into two bedrooms suites plus one bathroom. Luxury Lease companies are nuts for more bedrooms! How about building UP over the existing Casita? It’s plumbed up there, and the views are outstanding!!
Now on to the barn..6,000 sf of custom, incredibly finished space..all under a 26 ft. tall roof. What are your options?? Keep it as the high end barn that it is. There is currently a lounge with a fireplace, several bathrooms, and 8 very large, spacious stalls for the horses. But some other conversion options might be to remove the stall partitions, and convert the barn into a Classic Car showroom. Hello Thermal Car Club drivers. Or..remove some or all of the partitions and create some large living spaces..even more lease options, right??
The barn is a work of art as it stands. The arena has professional footing, and the paddocks are perfection. But isn’t it special to KNOW you have options? Take the tour and then give me a call for your private tour of the incomparable estate, known as Tally Ranch in La Quinta.