18 Acres in Riverside County ready to Develop!

Highlights

• - Total Area: 18.66 acres of prime residential land
• - Zoning: 16.7 acres zoned R-1 for 54 single-family homes
• - Additional 1.96 acres zoned R-R
• - Strategic location near highway 215
• - Growing market
• - Development growth
• - Employment growth
• - California Assembly Bill AB 2345
• - Ideal for residential development

Description

Orange Vista Acres - Prime Residential Development Opportunity in Perris, CA

Located in the heart of Riverside County, Orange Vista Acres offers a unique and lucrative opportunity for residential development. This expansive property consists of four flat lots, totaling 18.66 acres, perfectly positioned for growth in one of Southern California’s most promising markets.

Property Highlights:

Total Area: 18.66 acres of prime residential land.
Zoning: 16.7 acres zoned R-1, allowing for the development of 54 single-family homes on 7,200 square foot lots. An additional 1.96 acres zoned R-R, ideal for larger 20,000 square foot residential lots.
Location: Situated in the thriving community of Perris, known for its family-friendly atmosphere, nearby shopping, and excellent public services.

Strategic Location:

Connectivity: Conveniently located near major highways, including I-215, providing easy access to Riverside, San Bernardino, and the greater Los Angeles area. Ideal for commuters and those seeking suburban living with proximity to urban amenities.
Growing Market: Perris has become an attractive option for homebuyers priced out of coastal markets, with a median home sale price of $573,212 as of July 2024.

Investment Potential:

Development Growth: Perris is experiencing significant growth and development, driving property values upward and enhancing local infrastructure.
Population Boom: As Riverside County continues to expand, the demand for residential housing increases, making this property a valuable asset for future development.
Employment: The area benefits from consistent employment growth across retail services, industrial logistics, government services, and construction, further supporting a stable housing market.

Development Incentives:

California Assembly Bill AB 2345: This legislation provides developers with a more aggressive density bonus formula, allowing for higher unit density per acre when including affordable housing. Leverage these benefits to maximize development potential and contribute to addressing the state’s housing shortage.
Orange Vista Acres represents an exceptional opportunity for developers to capitalize on the growing demand for housing in the Inland Empire. With favorable zoning, strategic location, and state incentives, this property is poised to deliver substantial returns on investment.

Conveniently located in the vibrant city of Perris, CA, the property offers an advantageous setting for investors seeking a residential development opportunity thriving community. Perris boasts a strategic position within the Inland Empire, providing easy access to major transportation routes and an array of amenities. Nearby attractions include the Lake Perris State Recreation Area, ideal for outdoor activities and leisure. The bustling Perris Auto Speedway and the Orange Empire Railway Museum are also within close reach, adding to the area's dynamic appeal. With its prime location and diverse range of recreational and cultural offerings, Perris presents an enticing prospect for residential development investors.

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