11
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$3,888,000
Est. payment /mo
10.1 Acres Lot
New
E Stetson AVE Hemet, CA 92543
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Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID NDP2509185
HOA Y/N No
Lot Size 10.100 Acres
Property Description
The subject property consists of two parcels totaling approximately 9 acres. There are currently plans for a 216-unit multi-family development called “Senna Community.” The unit mix consists of 9 studio units, 90 1 bed/ 1 bath units, and 117 2 bed/2 bath units. The property is zoned R-2, Low density Multiple Family Residential, with a maximum density of 8 du/acre. The General Plan designation is Medium Density Residential with a maximum density of 18 du/acre. The Housing Accountability Act authorizes development on the properties to utilize the higher General Plan Density as opposed to the lower Zoning density. The project proposes to provide 5% Very Low Income units, which entitles the project to a 20% density bonus. The property offers a unique opportunity for a builder to bring much-needed housing to the City of Hemet.
Location
State CA
County Riverside
Area Srcar - Southwest Riverside County
Zoning Low-Density Multi-Family
Interior
Fireplace No
Exterior
Community Features Suburban
View Y/N Yes
View Neighborhood
Building
Lot Description 21-25 Units/Acre
Others
Senior Community No
Tax ID 44630000500
Acceptable Financing Cash, Contract, 1031 Exchange
Listing Terms Cash, Contract, 1031 Exchange
Special Listing Condition Standard
Virtual Tour https://www.propertypanorama.com/instaview/crmls/NDP2509185
Listed by Alexandra Bentley Lee & Associates abentley@lee-associates.com
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