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Lake Elsinore,CA 92530
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID NDP2503672
Lot Size 1.000 Acres
Property Description
PROJECT HIGHLIGHTS Prime Development Opportunity –68-Unit Apartment Land on Machado Street, Lake Elsinore Presenting a rare opportunity to acquire entitled land for a 68-unit apartment development in the heart of Lake Elsinore's thriving residential corridor. Located on Machado Street, this project site is ideally situated in a neighborhood predominantly surrounded by new single-family home communities, offering a unique chance to introduce much-needed multi-family housing to a fast-growing area. This site provides tremendous upside for developers and investors seeking to build in a market with strong rental demand, limited supply of new apartments, and a supportive local municipality for residential growth. Lake Elsinore continues to attract families and professionals with its natural beauty, affordability, and proximity to major employment hubs via the I-15 freeway. Project Highlights: Proposed for 68 apartment units for market rate – The developer or builder will need to finish entitlement process Surrounded by established and new SFR communities – ideal for tenants seeking rental alternatives in family-friendly neighborhoods Flat and accessible land with utilities nearby Close to schools, parks, shopping centers, and public transit Strong local and regional demographics with population growth and increasing housing needs This project aligns perfectly with the city's vision for smart, sustainable growth while addressing the region's housing shortage. Don't miss the chance to develop a community that will stand out in a neighborhood dominated by for-sale homes—renters will love the location, and investors will love the returns.
Location
State CA
County Riverside
Area 699 - Not Defined
Zoning R1-1
Exterior
Community Features Biking,Hiking,Park,Street Lights,Sidewalks
View Y/N Yes
View Neighborhood
Building
Lot Description 11-15 Units/Acre
Others
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard