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Listed by Chris Lee • Pacific Sotheby's Int'l Realty
$1,800,000
Est. payment /mo
20,160 SqFt
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
Square Footage 20,160 sqft
Price per Sqft $89
MLS Listing ID CROC26008557
HOA Y/N No
Lot Size 0.463 Acres
Property Sub-Type Unimproved Land
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
Fireplace No
Exterior
View None
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