815 E Pennsylvania Ave #16,15,13,13,12,11,,7,6,5, Escondido, CA 92025

$6,300,000 Approx. USD 0 beds, 0 baths

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Brochure

Photo of Toni Cieri

Marketed By Toni Cieri REALTOR® - Broker Associate 858-229-4911 m
858-229-4911 o
Lic#: 00780968
NRDS ID: 182001159
tonicieri@aol.com Del Mar Office
3790 Via De La Valle, Ste, 201
Del Mar, CA 92014
Phone: 858-259-6400
Fax: 858-481-1483

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Agent Remarks

We are pleased to present the opportunity to purchase Penn + Elm, a dense flexibly-zoned land assemblage consisting of five contiguous parcels located within the San Diego County submarket of Downtown Escondido. This portfolio consists of the properties: 815 E Pennsylvania - Vacant medical office and paved parking lot, 843 E Pennsylvania - Vacant single family, 848 E Ohio - Vacant lot, 830 E Ohio - Vacant duplex, and 838-840 E Ohio - Vacant duplex. Penn + Elm is situated within the S-P (Specific Plan) zoning designation, which is used by the City of Escondido to tailored development within specially planned districts. S-P Zoning allows for adaptable land-use standards, density provisions and development guidelines unique to each Specific Plan area, enabling flexibility in design and permitting. Depending on the applicable Specific Plan sub-area, the zoning may support mixed-use or multifamily residential development, enhanced height allowances, walkability-focused site planning and opportunities to incorporate affordability or community-serving uses. When paired with California’s Density Bonus Law, developers can further increase allowable density, height and reduced parking ratios allowing this offering well-positioned for near-term multifamily or mixed-use redevelopment. Proof of concept for the feasible density onsite is provided by various recently approved and redeveloped sites with the S-P Zoning designation in-and-around the Downtown Escondido submarket.

Listing Details

Property type: Lots/Land (Lots/Land)

Status: ACTIVE

MLS# 260007438

Price: $6,300,000

Beds: 0

Baths: 0

1.47 acres

Subdivision: SOUTHEAST ESCONDIDO

County: San Diego

Zoning: S-P

MLS area: North County