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11 Hill Circle - Apartment Development Project, Salinas, CA

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11 Hill Circle - Apartment Development Project

Salinas, CA 93905 - Salinas Submarket


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

Topography:-
Proposed Use:Apartment Units

On-Site Improv:-



Sale Notes:
11 E. Laurel Drive project is approved for a 53 Unit Housing Development project. This approval and expiration has 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 apartment project or more. Redesign to a traditional apartment project is possible with 2-3 buildings on part of the property. Ideal for affordable or subsidy, low income, or senior housing. Maps, City CUP paperwork for prior project, and Environmental & Soil Reports are available. Call for more information.

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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