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Multi-Family

SEC Center St / Placentia Lane

SEC Center St / Placentia Lane, Riverside, CA 92501

Listing Price: $498,000

Lot Size
1.17 acres
Price/Acre
$425,641
Land Type
Land

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire vacant land for multi-family residential site in the city of riverside, California. The property is 1.17 acres and is located at the intersection of Center Street and Placentia Lane. The site is triangular in shape and has more than 200 feet of frontage on both Center Street and Placentia Lane. According to Northside Specific Plan, the land use designation for this site is medium high density and the zoning is R3-3000. The site can be developed at a density up to fourteen dwelling units per acre. With density bonuses permitted under state law, the residential density may exceed fourteen units per acre, buyer to verify. Seller financing available. Northside is a rapidly expanding neighborhood in the City of Riverside. The community is conveniently located at the busy intersection of three major freeways, California 91, California 60, and the Interstate 215. The City of Riverside has a vision for the Northside neighborhood to grow into a healthy and well-balanced community that celebrates the region’s history and promotes recreational activities. New developments within a two-mile radius of the subject property include the Northside Village Center and the Trujillo Adobe Heritage Village. Both sites provide a mixture of new residential units, office space, restaurants, community service providers and retail opportunities. Known as the Inland Empire, the Riverside-San Bernardino metro is a 28,000-square-mile region in Southern California composed of San Bernardino and Riverside counties. The metro contains a population of 4.6 million. The largest city is Riverside with more than 324,100 residents and has increased over 22 percent since 2000, and is forecasted to grow 2.3 perfect over the next five years. Within a five-mile radius of the subject property, the average household income is $77,944 and the population is nearly 250,000.

Investment Highlights

  • Seller Financing Available
  • Opportunity to Develop a 16-Unit Apartment Building in Riverside (Maybe more units with variance, Buyer to verify)
  • Over 200 feet of Street Frontage on Both Center Street and Placentia Lane
  • Lot Size 50,965 Square Feet (1.17 Acres)
  • Zoned R-3-3000 / Medium High Density Residential
  • Central Location - Close to Three Major Freeways, California 91, 60, and Interstate 215
  • Over $77,000 Average Household Income within Five-Mile Radius
  • Population of 249,551 within a Five-Mile Radius

Exclusively Listed By

Multi-Family

SEC Center St / Placentia Lane

Listing Price: $498,000

Lot Size
1.17 acres
Price/Acre
$425,641
Land Type
Land

Investment Highlights

  • Seller Financing Available
  • Opportunity to Develop a 16-Unit Apartment Building in Riverside (Maybe more units with variance, Buyer to verify)
  • Over 200 feet of Street Frontage on Both Center Street and Placentia Lane
  • Lot Size 50,965 Square Feet (1.17 Acres)
  • Zoned R-3-3000 / Medium High Density Residential
  • Central Location - Close to Three Major Freeways, California 91, 60, and Interstate 215
  • Over $77,000 Average Household Income within Five-Mile Radius
  • Population of 249,551 within a Five-Mile Radius

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire vacant land for multi-family residential site in the city of riverside, California. The property is 1.17 acres and is located at the intersection of Center Street and Placentia Lane. The site is triangular in shape and has more than 200 feet of frontage on both Center Street and Placentia Lane. According to Northside Specific Plan, the land use designation for this site is medium high density and the zoning is R3-3000. The site can be developed at a density up to fourteen dwelling units per acre. With density bonuses permitted under state law, the residential density may exceed fourteen units per acre, buyer to verify. Seller financing available. Northside is a rapidly expanding neighborhood in the City of Riverside. The community is conveniently located at the busy intersection of three major freeways, California 91, California 60, and the Interstate 215. The City of Riverside has a vision for the Northside neighborhood to grow into a healthy and well-balanced community that celebrates the region’s history and promotes recreational activities. New developments within a two-mile radius of the subject property include the Northside Village Center and the Trujillo Adobe Heritage Village. Both sites provide a mixture of new residential units, office space, restaurants, community service providers and retail opportunities. Known as the Inland Empire, the Riverside-San Bernardino metro is a 28,000-square-mile region in Southern California composed of San Bernardino and Riverside counties. The metro contains a population of 4.6 million. The largest city is Riverside with more than 324,100 residents and has increased over 22 percent since 2000, and is forecasted to grow 2.3 perfect over the next five years. Within a five-mile radius of the subject property, the average household income is $77,944 and the population is nearly 250,000.

Exclusively Listed By

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