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$380,000
Est. payment /mo
2.47 Acres Lot
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Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID WS26237725
HOA Y/N No
Lot Size 2.470 Acres
Property Description
Exceptional Investment Opportunity in a Medium-Sized High-Density Apartment Community! Preliminary approval has been granted for a project consisting of 60 apartment units, with the potential to build up to 74 units according to the maximum allowances of R-3 zoning. The property encompasses approximately 2.47 acres (107,519 square feet) of entirely flat land, situated in the heart of the City of Hemet, with frontage on both Santa Fe Street and E Central Avenue. The land is rectangular in shape, and all utilities are readily available.
The project has been designed to include 10% 1-bedroom/1-bath units, 10% 3-bedroom/2-bath units, and 80% 2-bedroom/2-bath units. It is currently in the process of nearing full entitlement approval from the planning department, expected within the next 2-3 months. Full entitlement approval may be deliverable by the owner depending on the terms.
Extensive development documentation available upon request, including proposed 60-unit architectural plans, conceptual civil engineering and drainage plans, utility layouts, landscape plans, geotechnical studies, infiltration and liquefaction reports, and prior City planning review comments. Contact listing agent for development package and additional information. Buyer and buyer's consultants to independently verify all entitlements, approvals, engineering requirements, and development feasibility.
The project has been designed to include 10% 1-bedroom/1-bath units, 10% 3-bedroom/2-bath units, and 80% 2-bedroom/2-bath units. It is currently in the process of nearing full entitlement approval from the planning department, expected within the next 2-3 months. Full entitlement approval may be deliverable by the owner depending on the terms.
Extensive development documentation available upon request, including proposed 60-unit architectural plans, conceptual civil engineering and drainage plans, utility layouts, landscape plans, geotechnical studies, infiltration and liquefaction reports, and prior City planning review comments. Contact listing agent for development package and additional information. Buyer and buyer's consultants to independently verify all entitlements, approvals, engineering requirements, and development feasibility.
Location
State CA
County Riverside
Area Srcar - Southwest Riverside County
Zoning R-3
Interior
Fireplace No
Exterior
Community Features Street Lights, Sidewalks, Urban
View Y/N No
View None
Building
Lot Description 26-30 Units/Acre, Rectangular Lot
Water See Remarks
New Construction No
Others
Senior Community No
Tax ID 446092027
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
Virtual Tour https://www.dropbox.com/scl/fi/u2ok70mtctxc1qul9plsj/10-29.mp4?rlkey=hpvl5oti2jsxut4f333gv3gqh&dl=0
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Listed by LILI QIAN PACIFIC STERLING REALTY/Irvine 626-475-2156, DRE #01925737
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