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Jeffrey Walker

jeffrey@walkerpropertygroupca.com +1(949) 903-3731

$ 850,000

Est. payment | -/mo

0.28 Acres Lot

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$ 850,000

Est. payment | -/mo

Save Virtual Tour

0.28 Acres Lot

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

MLS Listing ID NDP2609564

HOA Y/N No

Year Built 1940

Lot Size 0.280 Acres

Property Description

340 Pleasant Way is a multifamily development opportunity located in central San Marcos. The property consists of a two-bedroom, one-bathroom single-family residence of approximately 725 square feet, built in 1940, situated on a 12,182 square foot lot. The property is zoned R-3-10, San Marcos' medium-density multifamily designation, which provides for development at 12.1 to 20 dwelling units per acre. The City has indicated a base potential of up to five residential units, with additional upside available through state density bonus provisions. True potential to maximize property and profit could be up to 6 townhomes and 2 ADUs. Zoning being flexible with alternative usage in San Marcos; potentially assisted living facility as an example. Buyer to get approved with City of San Marcos. This site represents a rare infill opportunity in a submarket defined by strong rental demand and limited supply of developable land. Neighboring parcels are already improved with multifamily product, and the location offers direct access to the State Route 78 corridor, Palomar College and California State University San Marcos. With favorable zoning in place, an existing residence capable of generating income throughout the entitlement period, and few comparable sites available in the submarket, 340 Pleasant Way should be valued as a development site rather than as a single-family home.

Location

State CA

County San Diego

Area 92069 - San Marcos

Zoning R-3-10

Interior

Fireplace No

Laundry Stacked

Exterior

Pool None

Community Features Suburban

View Y/N No

Total Parking Spaces 10

Private Pool No

Building

Lot Description No Landscaping, Value In Land

Story 1

Sewer Public Sewer

New Construction No

Others

Senior Community No

Tax ID 2200810200

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Trust

Virtual Tour https://www.propertypanorama.com/instaview/crmls/NDP2609564

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Timothy Feuling Compass tfeuling89@yahoo.com, DRE #01946782

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(949) 903-3731

jeffrey@walkerpropertygroupca.com

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340 Pleasant WAY San Marcos, CA 92069