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$ 850,000
Est. payment /mo
New
340 Pleasant Way San Marcos, CA 92069
2 Beds
1 Bath
0.28 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID NDP2609564
Bedrooms 2
Lot Size 0.280 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
340 Pleasant Way is a multifamily development opportunity located in central San Marcos. The property consists of a two-bedroom, one-bathroom single-family residence of approximately 725 square feet, built in 1940, situated on a 12,182 square foot lot. The property is zoned R-3-10, San Marcos' medium-density multifamily designation, which provides for development at 12.1 to 20 dwelling units per acre. The City has indicated a base potential of up to five residential units, with additional upside available through state density bonus provisions. True potential to maximize property and profit could be up to 6 townhomes and 2 ADUs. Zoning being flexible with alternative usage in San Marcos; potentially assisted living facility as an example. Buyer to get approved with City of San Marcos. This site represents a rare infill opportunity in a submarket defined by strong rental demand and limited supply of developable land. Neighboring parcels are already improved with multifamily product, and the location offers direct access to the State Route 78 corridor, Palomar College and California State University San Marcos. With favorable zoning in place, an existing residence capable of generating income throughout the entitlement period, and few comparable sites available in the submarket, 340 Pleasant Way should be valued as a development site rather than as a single-family home.
Location
State CA
County San Diego
Zoning Assessor
Direction Mission Road to Pleasant Way
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 2200810200
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Timothy Feuling, DRE#01946782 Compass
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