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In-PersonVirtual Tour
$ 1,800,000
Est. payment | /mo
0.46 Acres Lot
$ 1,800,000
Est. payment | /mo
0.46 Acres Lot
Key Details
Property Type Vacant Land
Sub Type Lots/Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26008557
Lot Size 0.463 Acres
Property Sub-Type Lots/Land
Property Description
**Land Development with Entitled Plans for a Multifamily!!** *Perfect Timing as the rates come down with nearly no new developments in the pipeline. *Approved plans for a 28-unit apartment project consisting of 26 units plus 2 ADUs *Zoned SP-5 (Old Town Temecula Specific Plans) for residential development at a high density of 20-35 dwelling units per acre. *Site size of approximately 20,160 SF with ~20,475 SF of rentable residential area *Unit mix includes studios, one-, two-, and three-bedroom residences *All entitlements in place, including zoning approval, parcel merger, site plan approval, and approved historic home relocation *Located within walking distance to Old Town dining, retail, and entertainment *Strong rental demand supported by population and income growth *Limited new multifamily supply anticipated beyond 2025 *Convenient access to I-15, Inland Empire, and San Diego employment corridors *Offered as an entitled development opportunity ideal for experienced multifamily developers
Location
State CA
County Riverside
Direction 1st x Pujol
Interior
Fireplace No
Exterior
View Y/N No
Present Use Residential
Others
Senior Community No
Tax ID 922062008
Acceptable Financing Cash, Exchange
Listing Terms Cash, Exchange
Virtual Tour https://youtu.be/pwCBL20Dt4w
Listed by Chris Lee Pacific Sotheby's Int'l Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "