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Listed by Alexandra Bentley • Lee & Associates
$ 3,888,000
Est. payment /mo
Active
E Stetson Avenue Hemet, CA 92543
439,956 SqFt
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
Square Footage 439,956 sqft
Price per Sqft $8
MLS Listing ID CRNDP2509185
HOA Y/N No
Lot Size 10.100 Acres
Property Sub-Type Unimproved Land
Source Datashare California Regional
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
Interior
Fireplace No
Exterior
View Other
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