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11 Hill Circle - Los Laureles Housing Development, Salinas, CA

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11 Hill Circle - Los Laureles Housing Development

Salinas, CA 93905 - Salinas Submarket

Property Type:Land Parcel Size:7.67 Acres
For Sale Price:$1,700,000 Price/Acre:$221,643 Price/SF:$5.09

Proposed Use:Apartment Units - Senior

On-Site Improv:-

Sale Notes:
11 Hill Circle is 7.67 Acres of Land approved for a 53 Unit Housing Development project. The original project was approved in 2009. This approval and expiration has just been extended to April 17th, 2018 to begin construction. Project is marginally profitable. City has indicated a willingness to increase density to 85-90 units. Redesign to a traditional apartment project is possible or 53 units as single family houses for sale or rent.

The property sits along Laurel Drive in Salinas which is a main thoroughfare. It would also have an outlet at Hill Circle.

Renz & Renz
George L Renz
(408) 846-1031 x1

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