Latitude° 61 is a gated community with 61 townhome-style condominiums. It also features a community pool, spa and guest parking. Homeowners can take a short walk (less than 1 mile) into downtown Palm Springs to enjoy coffee shops, restaurants, shopping and a wide variety of recreational activities.
Latitude° 61 is a gated community with 61 townhome-style condominiums. It also features a community pool, spa and guest parking. Homeowners can take a short walk (less than 1 mile) into downtown Palm Springs to enjoy coffee shops, restaurants, shopping and a wide variety of recreational activities.
Total monthly fees are $340. This includes an HOA of $180 per month and a land lease of $160 per month ($1920 paid annually). *See Land Lease FAQ for more details.
Total monthly fees are $340. This includes an HOA of $180 per month and a land lease of $160 per month ($1920 paid annually). *See Land Lease FAQ for more details.
The tax rate is 1.26% and a total of $735 in annual special assessments.
The tax rate is 1.26% and a total of $735 in annual special assessments.
Yes. There is a 2% broker co-op for agents who introduce clients to Latitude° 61. A registration will be given to agents that register clients prior to the buyers first visit.
Yes. There is a 2% broker co-op for agents who introduce clients to Latitude° 61. A registration will be given to agents that register clients prior to the buyers first visit.
In 1876, the United States government established the Agua Caliente Reservation with more than 31,128 acres in a checkerboard format, alternating sections of 640 acres. The alternating non-reservation sections were granted to the Southern Pacific Railroad. This checkerboard formation includes downtown Palm Springs. Roughly half of Palm Springs is considered “lease land,” meaning that a significant portion of the city’s residential properties are situated on leased land from the Agua Caliente Band of Cahuilla Indians. There are currently more than 20,000 homes on leased land within the city limits.
In 1876, the United States government established the Agua Caliente Reservation with more than 31,128 acres in a checkerboard format, alternating sections of 640 acres. The alternating non-reservation sections were granted to the Southern Pacific Railroad. This checkerboard formation includes downtown Palm Springs. Roughly half of Palm Springs is considered “lease land,” meaning that a significant portion of the city’s residential properties are situated on leased land from the Agua Caliente Band of Cahuilla Indians. There are currently more than 20,000 homes on leased land within the city limits.
The annual lease is $1920 ($160 a month) paid on January 1st of each year throughout the term.
The annual lease is $1920 ($160 a month) paid on January 1st of each year throughout the term.
The Base Rent is adjusted on January 1, 2028, and every 3 years thereafter. The Consumer Price Index is used to determine adjustment. The base rate is adjusted between 9% and a maximum of 12% per adjustment period.
Example of adjustment at the maximum allowable rate:
The Base Rent is adjusted on January 1, 2028, and every 3 years thereafter. The Consumer Price Index is used to determine adjustment. The base rate is adjusted between 9% and a maximum of 12% per adjustment period.
Example of adjustment at the maximum allowable rate:
99 years. This includes an initial term of 65 years and an option to extend for an additional 34 years. An amount of 6 times the annual base rent will be due to exercise the extension option.
99 years. This includes an initial term of 65 years and an option to extend for an additional 34 years. An amount of 6 times the annual base rent will be due to exercise the extension option.
Yes. All loans are Leasehold Mortgages. However, it is important to use a lender that is familiar with leased land. Please speak with our preferred lender for more details.
Yes. All loans are Leasehold Mortgages. However, it is important to use a lender that is familiar with leased land. Please speak with our preferred lender for more details.
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