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600+ Unit Multi-Family Portfolio - 25 Acres in Hemet, CA
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Auction #
557 -
Lot Size:
±25.49 acres -
Zoning: Multiple Family Residential
Topography: Flat
Has Utilities: Yes
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Transaction Fee:
4%
600+ Unit Multi-Family Portfolio - 25 Acres in Hemet, CA
Land/Residential Property For Sale in Hemet, CA
E Stetson Ave, Hemet, CA 92543FRE & Lee & Associates are pleased to present the Online event for the rare opportunity to purchase a significantly below market 25+ acre multi-family development portfolio (3 properties) in prime locations along Stetson Avenue in Hemet, CA
Portfolio consists of three (3) separate multi-family development sites including:
- 1. Senna - A 216-Unit Multi-family Development Site totaling 10.10 Acres.
- 2. Aster - A 228-Unit Multi-family Development Site totaling 10.07 Acres.
- 3. A 5.32 Acre Multi-family Development site adjacent to Aster.
Property Highlights:
- Senna: Two parcels totaling approximately 10.10 acres with plans for 216 units with 117 2 beds/2 baths, 90 1 bed/1 bath and 9 studios. Unique opportunity to bring housing to a growing market and located within an opportunity zone. Property is located on the NWC E Stetson Ave & S Buena Vista St, 1.5 miles south of the 74 freeway. Zoned R-2: Low Density Multiple Family Residential with a maximum density of 8 du/acre - proposed density of 21.6 du/acre through the Housing Accountability Act. APNs: 446-300-005 & 446-300-011.
- Aster: Two parcels totaling approximately 10.07 acres with approved plans for 228 units with 129 2 bed/2 bath, 84 1 bed/1 bath, and 15 studios. Excellent location in a growing market surrounded by residential and retail developments within an Opportunity Zone. Zoning: Multiple Family Residential (R-3) with a density of 18.1 - 30.0 du/acre with a proposed density of 22.6 du/acre. APNs: 446- 270-005 (5.09 acres) & 464-270-006 (4.98 acres). Services same as Senna. Max height: 45' or 3 stories.
- 5.32 Acres: Adjacent to Aster (APN: 464-270-0025) that is zoned R-3 with GP: High Density Residential with a density of 18.1 - 30.0 du/acre
- Strong demographics: 1 mile - 20,155 population with an estimated 6,816 households, average HHI of $78,821, and 2,359 employees. 3 miles - 96,162 population with an estimated 33,617 households, average HHI of $78,314 and 19,953 employees. 5 miles - 171,096 population with 53,399 estimated households, average HHI of $86,705 and 28,493 employees
- Services: EMHWD (water/sewer), Southern California Gas Company (Gas), Southern California Edison (electric)
Downloadable Documents Sign In to Access
Property Viewing
If you would like to visit this property or any other property in this auction event, you are required to execute and electronically submit a Temporary Access Agreement.
If you visit this property or any other property without first executing a Temporary Access Agreement, you will be trespassing. Please don’t trespass on any properties.
Start Temporary Access AgreementFinancing
There is not a Preferred Lender for this auction. You may not include a financing contingency with your bid.
If you intend to purchase the property ALL CASH, you will be required to provide proof of verifiable funds prior to the offer deadline.
For further details about Financing, please read the Terms and Conditions of Sale located in the Documents section or contact the FRE.com Support Team.
Broker of Record for this property: Lee & Associates, CA
All information contained on this website or otherwise communicated, is from sources deemed reliable, but has not been verified for accuracy or completeness, or suitability for any particular purpose. It is presented "as is," and is not warranted or guaranteed by the Seller or its agents including but not limited to the Listing Broker, LFC Communications, Inc. and LFC Marketing Services, Inc. Buyers shall rely entirely on their own judgment, research and inspection of the asset, and are encouraged to independently verify information and to consult with appropriate legal, financial and other advisors and real estate specialists.
How to Bid
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1Set up a free user accountFree registration with no obligation. Your account provides access to additional information and documents, as well as email updates.
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2Search & SelectThe Future of Real Estate features real estate from the USA and international. Utilize our advanced search criteria to narrow down your selection.
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3Review InformationAccess property information to make better-informed decisions. Available information varies depending on each real estate asset type.
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4Submit Deposit (if required)Prior to placing a bid, you may need to submit a deposit. Deposits can be submitted using credit card, wire transfer or check.
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5Place Online BidPlace bids on your selected asset prior to the deadline. Specifics vary for each asset.
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6Winner is DeclaredBuyer deposits purchase funds, and closing coordinator assists Buyer and Seller with final paperwork.
ADD PROPERTY TO FAVORITES
Hemet, CA 92543
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Riverside County
Hemet, CA -
Property Type: Land
-
Lot Size: ±25.49 acres
-
Zoning: Multiple Family Residential Topography: Flat
Has Utilities: Yes
-
Transaction Fee: 4%
FRE & Lee & Associates are pleased to present the Online event for the rare opportunity to purchase a significantly below market 25+ acre multi-family development portfolio (3 properties) in prime locations along Stetson Avenue in Hemet, CA
Portfolio consists of three (3) separate multi-family development sites including:
- 1. Senna - A 216-Unit Multi-family Development Site totaling 10.10 Acres.
- 2. Aster - A 228-Unit Multi-family Development Site totaling 10.07 Acres.
- 3. A 5.32 Acre Multi-family Development site adjacent to Aster.
Property Highlights:
- Senna: Two parcels totaling approximately 10.10 acres with plans for 216 units with 117 2 beds/2 baths, 90 1 bed/1 bath and 9 studios. Unique opportunity to bring housing to a growing market and located within an opportunity zone. Property is located on the NWC E Stetson Ave & S Buena Vista St, 1.5 miles south of the 74 freeway. Zoned R-2: Low Density Multiple Family Residential with a maximum density of 8 du/acre - proposed density of 21.6 du/acre through the Housing Accountability Act. APNs: 446-300-005 & 446-300-011.
- Aster: Two parcels totaling approximately 10.07 acres with approved plans for 228 units with 129 2 bed/2 bath, 84 1 bed/1 bath, and 15 studios. Excellent location in a growing market surrounded by residential and retail developments within an Opportunity Zone. Zoning: Multiple Family Residential (R-3) with a density of 18.1 - 30.0 du/acre with a proposed density of 22.6 du/acre. APNs: 446- 270-005 (5.09 acres) & 464-270-006 (4.98 acres). Services same as Senna. Max height: 45' or 3 stories.
- 5.32 Acres: Adjacent to Aster (APN: 464-270-0025) that is zoned R-3 with GP: High Density Residential with a density of 18.1 - 30.0 du/acre
- Strong demographics: 1 mile - 20,155 population with an estimated 6,816 households, average HHI of $78,821, and 2,359 employees. 3 miles - 96,162 population with an estimated 33,617 households, average HHI of $78,314 and 19,953 employees. 5 miles - 171,096 population with 53,399 estimated households, average HHI of $86,705 and 28,493 employees
- Services: EMHWD (water/sewer), Southern California Gas Company (Gas), Southern California Edison (electric)
Property Viewing
If you would like to visit this property or any other property in this auction event, you are required to execute and electronically submit a Temporary Access Agreement.
If you visit this property or any other property without first executing a Temporary Access Agreement, you will be trespassing. Please don’t trespass on any properties.
Start Temporary Access Agreement
Financing
There is not a Preferred Lender for this auction. You may not include a financing contingency with your bid.
If you intend to purchase the property ALL CASH, you will be required to provide proof of verifiable funds prior to the offer deadline.
For further details about Financing, please read the Terms and Conditions of Sale located in the Documents section or contact the FRE.com Support Team.
Broker of Record for this property: Lee & Associates, CA
All information contained on this website or otherwise communicated, is from sources deemed reliable, but has not been verified for accuracy or completeness, or suitability for any particular purpose. It is presented "as is," and is not warranted or guaranteed by the Seller or its agents including but not limited to the Listing Broker, LFC Communications, Inc. and LFC Marketing Services, Inc. Buyers shall rely entirely on their own judgment, research and inspection of the asset, and are encouraged to independently verify information and to consult with appropriate legal, financial and other advisors and real estate specialists.