0 N. Ramona Blvd.,San Jacinto, CA 92583

San Jacinto CA, 92583

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Description

* Price has been reduced to $1,000,000 ($22,727 per entitled lot). Seller will carry financing at 2% for 18 months with a $250,000 down payment. The subject property is a fully entitled 44-unit detached single-family residential development project located in a great infill location on N. Ramona Blvd. in the city of San Jacinto. Tentative Tract Map #32153 was approved several years ago and has recently been extended until 2023. The site is located in the R-3 zoning district and totals 5.79 acres of land. This property is located on the southwest side of Ramona Blvd. just to the east of busy State St. The topography of the site is relatively flat. The neighborhood surrounding the property is primarily residential in nature. The center of the project wraps around the Hacienda Motel which also fronts on Ramona Blvd. The project is located within the Eastern Municipal Water District service area. Sanitary sewer for this project will be provided by the City of San Jacinto. A main sewer line runs along Ramona Blvd. with the assumption that the existing sewer has the capacity and depth to serve this site. This property is located in the San Jacinto Unified School District. One other major advantage to this site is that it is located in a Qualified Opportunity Zone. Those developers looking to place exchange capital to build a residential project to hold for an extended period of time may be interested in this option.

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Market Activity 92583