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Multi-Family

562-4 W Grand Ave & 540 W Grand Ave

562 W Grand Ave, Escondido, CA 92025

Listing Price: $2,900,000

Lot Size
0.64 acres
Price/Acre
$4,511,733
Land Type
Redevelopment

Investment Overview

Marcus & Millichap has been retained by ownership on an exclusive basis to market the property for sale and presents a unique opportunity to acquire a large corner lot for redevelopment. The two parcel property is 27,999 sqft (0.64 acres) and is located in the heart of Escondido on W Grand Avenue, just east of Interstate 15.

The corner lot has a base zoning designation of M1, which allows for 100 dwelling units per acre. Residential development is a key focus of the Escondido downtown specific plan. (Talk to Crystian about zoning)

Located at 562-4 and 540 W Grand Avenue, the site consists of one commercial space and a large vacant parking lot. Current ownership has spent the last twelve months engaging the city of Escondido about potential redevelopment projects. The property has obtained pre approval status for three different projects. The first project is a 62 unit market rate development, the second, a 76 unit market rate/affordable development, and the third, a 97 unit market rate/affordable development. (See full breakdown of the development potential in Section 3.)

Escondido is located in North County Inland, about 35 minutes from the downtown San Diego. Escondido’s convenient location makes is an ideal choice for commuters with easy access to major highways.

Escondido has grown significantly in the past five years. The average asking rent for studio units – 3 bedroom units at 3-5 star properties range between $1,829 - $3,235/month. Vacancy among these properties is extremely tight with a rate of just 2.9% (via Costar analytics).

Investment Highlights

  • Prime Corner Lot Location ( Mercado District | 27,999 square feet | Historic Clearance)
  • High Density Zoning ( Land Use: Downtown Specific Plan | Height limit of 75' feet | Base Zoning: M1 (100 DU / 1 ACRE) | Potential for 97 Units (See existing plans) )
  • In Demand Rental Market ( Extremely low vacancy rate of 2.7% | High demand for new construction units | Favorable location near public transit and major Freeways )
  • Qualified Opportunity Zone (Tax incentives for developers)

Exclusively Listed By

Financing By

Multi-Family

562-4 W Grand Ave & 540 W Grand Ave

Listing Price: $2,900,000

Lot Size
0.64 acres
Price/Acre
$4,511,733
Land Type
Redevelopment

Investment Highlights

  • Prime Corner Lot Location ( Mercado District | 27,999 square feet | Historic Clearance)
  • High Density Zoning ( Land Use: Downtown Specific Plan | Height limit of 75' feet | Base Zoning: M1 (100 DU / 1 ACRE) | Potential for 97 Units (See existing plans) )
  • In Demand Rental Market ( Extremely low vacancy rate of 2.7% | High demand for new construction units | Favorable location near public transit and major Freeways )
  • Qualified Opportunity Zone (Tax incentives for developers)

Investment Overview

Marcus & Millichap has been retained by ownership on an exclusive basis to market the property for sale and presents a unique opportunity to acquire a large corner lot for redevelopment. The two parcel property is 27,999 sqft (0.64 acres) and is located in the heart of Escondido on W Grand Avenue, just east of Interstate 15. The corner lot has a base zoning designation of M1, which allows for 100 dwelling units per acre. Residential development is a key focus of the Escondido downtown specific plan. (Talk to Crystian about zoning) Located at 562-4 and 540 W Grand Avenue, the site consists of one commercial space and a large vacant parking lot. Current ownership has spent the last twelve months engaging the city of Escondido about potential redevelopment projects. The property has obtained pre approval status for three different projects. The first project is a 62 unit market rate development, the second, a 76 unit market rate/affordable development, and the third, a 97 unit market rate/affordable development. (See full breakdown of the development potential in Section 3.) Escondido is located in North County Inland, about 35 minutes from the downtown San Diego. Escondido’s convenient location makes is an ideal choice for commuters with easy access to major highways. Escondido has grown significantly in the past five years. The average asking rent for studio units – 3 bedroom units at 3-5 star properties range between $1,829 - $3,235/month. Vacancy among these properties is extremely tight with a rate of just 2.9% (via Costar analytics).

Exclusively Listed By

Financing By

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