Description
27 unit apartment development opportunity with entitlements, invest $2,500,000 for 50% Joint Venture Partner or purchase said property outright with entitlements for $4,550,000 on this prime 1.86 acres located in Oceano, CA, only 1/2 mile from the beach.The property is in the multifamily zone on the specific plan for Oceano CDP. It is located in the Opportunity Zone which has tremendous tax benefits to the Owner/Buyer. Site has all the utilities to the property and is ready for the construction of the 27 Units. SLO County has issued the Application Acceptance letter for 27 large 3 and 4 bedroom apartments each with private oversized 2 Car garage and 2 assigned parking spaces. County has authorized submission of Building and Grading Permit Applications construction will start shortly. Our Construction loan is approved and JV partner will not have to sign on the construction loan and will have no liability on said loan..
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0BEDS
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1.77ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
27 unit apartment development opportunity with entitlements, invest $2,500,000 for 50% Joint Venture Partner or purchase said property outright with entitlements for $4,550,000 on this prime 1.86 acres located in Oceano, CA, only 1/2 mile from the beach.The property is in the multifamily zone on the specific plan for Oceano CDP. It is located in the Opportunity Zone which has tremendous tax benefits to the Owner/Buyer. Site has all the utilities to the property and is ready for the construction of the 27 Units. SLO County has issued the Application Acceptance letter for 27 large 3 and 4 bedroom apartments each with private oversized 2 Car garage and 2 assigned parking spaces. County has authorized submission of Building and Grading Permit Applications construction will start shortly. Our Construction loan is approved and JV partner will not have to sign on the construction loan and will have no liability on said loan..
Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-11T18:34:48.937. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Remax of Chico - The Laffins Real Estate Team. Licensed in the State of California, USA.