47306 Madison Street, Indio, CA 92201

Property Description

Click/Copy to review Public Notice & Rules for Confirmation and Overbid Hearing (Deadline to submit application: March 12, 2025): https://members.moodyscre.com/api/images/data/og/media/user_uploads/67b61113935f85485a1d5a99_473_rules_for_confirmation_and_overbid_hearing.pdf Court Ordered Sale. Property Is Being Sold by Way of Receivership & Court Confirmation. * PUBLIC NOTICE OF SALE * ON FRIDAY, MARCH 14, 2025, AT 8:30 AM AT THE RIVERSIDE SUPERIOR COURT, PALM SPRINGS COURTHOUSE, DEPT. PS2, 3255 E TAHQUITZ CANYON WAY, PALM SPRINGS, CA 92262, THE VACANT LAND LOCATED AT 1231 W. 8TH ST., LOS ANGELES, CA 90017 WITH THE FOLLOWING LEGAL DESCRIPTION: Parcel 1 of Parcel Map No. 19884, in the City of Indio, County of Riverside, State of California, as shown by Map on file in Book 120, Pages 44 and 45 of Parcel Maps, in the Office of the County Recorder of said County. Assessor's Parcel No. 616-130-052. WILL BE SOLD BY WAY OF A COURT CONFIRMATION AND OVERBID HEARING. THE OPENING BID WILL BE $4,300,000. BIDDERS SHOULD CONTACT THE COURT RECEIVER AT LEAST 2 BUSINESS DAYS BEFORE THE HEARING TO PREQUALIFY TO BID BY: (1) SIGNING THE RULES FOR CONFIRMATION AND OVERBID HEARING; (2) PROVIDING PROOF OF FUNDS AS TO THE BIDDER'S HIGHEST BID; (3) PROVIDING A $150,000 DEPOSIT VIA CASHIER'S CHECK OR WIRE/ACH. ALL BIDDERS THAT ARE NOT THE WINNING BIDDER WILL RECEIVE THEIR $150,000 DEPOSIT BACK FOLLOWING THE HEARING. PREQUALIFIED BIDDERS MAY APPEAR IN PERSON OR REMOTELY. CALL BROKER SUSAN HARVEY AT 760-360-8200 FOR DETAILS. Prime Highway 111 Mixed-Use property in the City of Indio. Potential of up to 40 units per acre. Located at signalized intersection. 1,200 feet of excellent frontage on Highway 111. Walk to Coachella & Stagecoach Music Festivals. City has initiated Highway 111 street improvement project. Close proximity to the acclaimed Madison Club, PGA West, The Montage & Pendry Hotel and much more! Highway 111 & Madison combined traffic count of 50,000 ADT. Court Ordered Sale. Property is being sold by way of Receivership & Court Confirmation.