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Listed by Chris Lee • Pacific Sotheby's Int'l Realty
$ 1,800,000
Est. payment | /mo
39,898 SqFt
$ 1,800,000
Est. payment | /mo
39,898 SqFt
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Active
Purchase Type For Sale
Square Footage 39,898 sqft
Price per Sqft $45
MLS Listing ID CROC26017069
HOA Y/N No
Lot Size 20160.000 Acres
Property Sub-Type Comm Ind For Sale
Source Datashare California Regional
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
Interior
Heating Other
Fireplace No
Building
Water Public

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