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$ 6,300,000
Est. payment | /mo
1.47 Acres Lot
$ 6,300,000
Est. payment | /mo
1.47 Acres Lot
Key Details
Property Type Vacant Land
Sub Type Lots/Land
Listing Status Active
Purchase Type For Sale
Subdivision Southeast Escondido
MLS Listing ID 260007438
Lot Size 1.474 Acres
Property Sub-Type Lots/Land
Property Description
We are pleased to present the opportunity to purchase Penn + Elm, a dense flexibly-zoned land assemblage consisting of five contiguous parcels located within the San Diego County submarket of Downtown Escondido. This portfolio consists of the properties: 815 E Pennsylvania - Vacant medical office and paved parking lot, 843 E Pennsylvania - Vacant single family, 848 E Ohio - Vacant lot, 830 E Ohio - Vacant duplex, and 838-840 E Ohio - Vacant duplex. Penn + Elm is situated within the S-P (Specific Plan) zoning designation, which is used by the City of Escondido to tailored development within specially planned districts. S-P Zoning allows for adaptable land-use standards, density provisions and development guidelines unique to each Specific Plan area, enabling flexibility in design and permitting. Depending on the applicable Specific Plan sub-area, the zoning may support mixed-use or multifamily residential development, enhanced height allowances, walkability-focused site planning and opportunities to incorporate affordability or community-serving uses. When paired with California's Density Bonus Law, developers can further increase allowable density, height and reduced parking ratios allowing this offering well-positioned for near-term multifamily or mixed-use redevelopment. Proof of concept for the feasible density onsite is provided by various recently approved and redeveloped sites with the S-P Zoning designation in-and-around the Downtown Escondido submarket.
Location
State CA
County San Diego
Area North County
Zoning S-P
Interior
Fireplace No
Exterior
Utilities Available Electric, Natural Gas
View Y/N No
Others
Senior Community No
Tax ID 230-171-15-00
Acceptable Financing Conventional
Listing Terms Conventional
Listed by Michael Robert Greiner, DRE#01844828 CBRE
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