$1,800,000
**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
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Listed by Chris Lee with Pacific Sotheby's Int'l Realty (949) 554-1200
Property Type
Land
Status
Active
MLS Number
OC26008557
Year Built
N/A
Lot Size
0.46 acres