5318 Olive Hwy
6.28 Acres of Multifamily Land | Development Site
Marketing description
The Subject Property is located in East Oroville at the gateway to Kelly Ridge/Lake Oroville.
The Kelly Ridge/Lake Oroville area presents a compelling long-term development opportunity driven by a unique combination of recreational amenities, housing affordability, and lifestyle appeal. Situated at the gateway to Lake Oroville, the intersection of Kelly Ridge Road, Highway 162, and Miners Ranch Road serves as a strategic corridor connecting residents and visitors to one of Northern California's premier outdoor recreation destinations. Lake Oroville attracts boating, fishing, camping, hiking, and year-round tourism, while Kelly Ridge offers a desirable foothill lifestyle characterized by scenic views, outdoor access, and a stable residential base. Although Kelly Ridge itself is home to approximately 3,000 residents, the property benefits from its location within the East Oroville submarket, which serves approximately 8,000 residents, as well as the broader Oroville trade area of more than 30,000 residents, and is supplemented by significant seasonal tourism and recreational visitation to Lake Oroville.
The area's relatively affordable housing costs, growing retiree population, and increasing demand for recreation-oriented living create a strong foundation for future mixed-use, retail, hospitality, senior housing, workforce housing, or residential development. With excellent visibility, proximity to established neighborhoods, and access to one of California's largest recreational lakes, the site is well-positioned to capitalize on the region's continued growth and evolving lifestyle-driven demand.
Investment highlights
- Located one parcel off the intersection of Hwy 162 at Kelly Ridge and Miners Ranch Road is a special opportunity to make your mark on a premium site located at the footprint of Lake Oroville State Recreation Area
- Only 2.8 miles from Bidwell Canyon Marina
- Ideal location to develop housing, mixed-use, or even a village to support the East Oroville | Kelly Ridge Submarket
- The Subject Parcels are designated in the General Plan as MU (Mixed-Use) which supports a mixture of residential and commercial land uses. MU zoning allows for up to 15-20 residential units per acre; in addition to retail, restaurants, personal services and offices which may also be supported under the PUD zone.
- The Subject Parcels are strategically located in the path of progress and only one-off the major intersection of Olive Highway (162) and the intersections of Kelly Ridge Road and Miners Ranch Road. In addition to multifamily development the parcels offer strong potential for commercial or mixed-use repositioning, subject to Butte County review and approvals.
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