Listed by Berkshire Hathaway Commercial Division
$2,950,000
Phenomenal Multi Family Development Opportunity!
Details
APN 031-302-012
Property Type Multifamily, Mixed Use
Sub Type Apartment Building, Commercial
Stories 6
Lot Size (SqFt) 33,581
Zoning C-1A (Intermediate Commercial Zone)
Highest Density and FAR in the City of Ventura!
Marketing description
Amazing Development Opportunity in a Prime Ventura, CA location!
Approximate 33,700 SF parcel with the potential to increase to 1 acre.
Zoning is Intermediate Commercial allowing for Mixed Use or 100% Multi- Family.
Flat useable site with all utilities close by!
Highest Multi-Family Density in the City's new General Plan.
Investment highlights
- New General Plan Designation - Highest Density Multi-Family Land Use in City
- Uses include: Mixed Use, Apartment Bldg, Senior Housing/Assisted & Independent Living Project
- One of the last remaining undeveloped Commercial/Multi-Family infill sites in the City.
- Dynamic Location: Phenomenal Development Opportunity in a premier Ventura Location, near Pacific View Mall and Lowe’s.
- Strong Intrinsic Value & New General Plan: Priced very attractively at $88/SF with significant upside due to new soon to be adopted General Plan, allowing for the highest density and Floor Area Ratio in the City. High Barriers to Entry/Constrained Market due to City of Ventura's limited growth policy limiting future zone changes to commercial/multi-family uses.
- Top Tier Coastal California City: The City of Ventura has experienced explosive growth in the last several years, and is very much poised to continue this upward trajectory into the future due to strong migratory and demographic trends, along with a variety of employment options and excellent quality of life
- Lot Size: 33,581 Net SF with 326’ of frontage on Dean Dr. and 103’of frontage on Chapel Dr. Call Listing Agent for possible increased lot size to approximately 1 acre.
- Price per SF/Land: $88
- APN: 031-302-012
- Zoning: C-1A (Intermediate Commercial Zone) with land use designation based on upcoming new General Plan of Mixed Use 6.
- New General Plan Land Use: The Mixed Use 6 designation is the highest density land use designation allowed in the city. It is limited to commercial corridors and districts where new development could occur over the time horizon of the General Plan. The land use designation allows for high-density mixed-use corridors or districts that create a more walkable, urban environment. New General Plan Land Use Density and FAR: 65.1-80 du/ac | 3.25 FAR. A vertical or horizontal mix of uses with retail, office, and/or residential, senior housing, assisted/independent living. Building can be residential over retail, commercial, or just residential (including low-rise residential, low-rise mixed use, retail, office mixed, and townhome live-work).
- Topography: Flat
- Building Height Limitations: 6 stories or 75 feet.
- Utilities: All utilities at or near site.
Listing Contacts
Listed by Berkshire Hathaway Commercial Division
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