50351 Monroe Street, Indio, California 92201, Indio, 92201 - 3 bed, 3 bath

50351 Monroe Street, Indio, California 92201 home-pic-0
ACTIVE$3,500,000
50351 Monroe Street, Indio, California 92201
3Beds
3Baths
2,552Sqft
32,234Lot
Year Built
1947
Close
-
List price
$3.5M
Original List price
$3.5M
Price/Sqft
$1,371
HOA
-
Days on market
-
Sold On
-
MLS number
219130652DA
Home ConditionTear down
Features
Good View: Mountain(s)
ViewMountain(s)

About this home

We found 3 Cons,6 Pros. Rank: price - $3.50M(100th), sqft - 2552(86th), beds - 3(50th), baths - 3(50th).

50351 Monroe St. isn't just a home--it's an opportunity unlike any other in the Coachella Valley. Surrounded on three sides by the iconic Empire Polo Grounds, this property places you in the heart of one of the most sought-after entertainment destinations in the world. Yes, that Empire Polo Grounds--home to the Coachella and Stagecoach music festivals. From the backyard, you can see stages and feel the energy that brings thousands to the desert every year. Set on nearly 0.74 acres, this single-story home offers approximately 2,552 square feet of space with 3 bedrooms and 1.5 bathrooms. The interior is in original condition, making it a rare blank canvas for someone ready to reimagine its potential. Whether you're envisioning a personal retreat, a vacation rental, or something entirely unique, the location alone opens the door to countless possibilities. Properties with this kind of proximity, privacy, and potential almost never hit the market. This is more than a renovation project--it's a chance to create something extraordinary in a location that's truly one-of-a-kind!

Condition Rating
Tear down

Built in 1947, the property is explicitly described as being in 'original condition' and requiring 'extensive renovation.' The kitchen features dated wood cabinets, old countertops, and a mix of older and slightly newer appliances (fridge/range). While one shower appears to have a basic, more recent tile update, the overall 1.5 bathroom count for a 2,552 sqft home is severely inadequate for modern living. The age of the property (77 years old) combined with the 'original condition' and lack of major renovations for decades aligns perfectly with the 'tear-down' criteria, indicating that the property's value is primarily in its land and unique location, necessitating a complete overhaul or rebuild.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 32234, living area = 2552.
Unrivaled Location: Direct adjacency to the iconic Empire Polo Grounds, offering unparalleled access to major events like Coachella and Stagecoach, creating unique lifestyle and investment opportunities.
Significant Development Potential: Described as a 'blank canvas' in original condition, providing an exceptional opportunity for a buyer to customize and modernize to their exact specifications, maximizing future value.
Expansive Lot Size: Nearly 0.74 acres (32,234 sqft) offers substantial space for potential expansion, landscaping, or the addition of luxury amenities, enhancing privacy and utility.
High Income-Generating Asset: Ideal for a lucrative vacation rental business, capitalizing on its prime location for festival-goers and tourists, ensuring strong potential for return on investment.
Desirable Mountain Views: Features appealing mountain views, adding to the property's aesthetic charm and overall desirability in the Coachella Valley.

Cons

Extensive Renovation Required: The property is in 'original condition' and built in 1947, indicating a need for substantial capital investment for modernization, system upgrades, and aesthetic improvements.
Limited Bathroom Count: With only 1.5 bathrooms for a 3-bedroom, 2,552 sqft home, the current configuration is insufficient for modern living standards and will likely necessitate costly expansion.
Potential for Festival-Related Disturbances: While a strength for income, direct proximity to the Empire Polo Grounds means potential for significant noise, traffic, and crowds during major events, impacting year-round tranquility.

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