Description
Seller financing may be considered! Land development opportunity at 78 Springs Rd in Vallejo, CA for sale. With architectural drawings completed and entitlements for a 30-unit apartment nearly in hand, the project presents an excellent opportunity for a developer to bypass a significant portion of the soft costs and time typically associated with the high barrier to entry that exists throughout the San Francisco Bay Area. The ±1.22 acre site is has completed drawings for 30 apartment units comprising of 18 (1 Bedroom) and 12 (2 Bedrooms) with 41 parking spaces. Expected to be CEQA exempt and with an estimated six (6) month approval process to complete approved status w the City of Vallejo before moving to MEP (Mechanical, Electrical, and Plumbing) drawings. California’s AB 1286 further allows developers up to 100% bonus density, offering flexibility to proceed with the project as drawn or pursue additional units for a potentially higher-yielding outcome. Buyer to confirm all density bonus eligibility and allowable uses with the City of Vallejo. Situated in an established retail corridor, the property benefits from immediate proximity to shopping, services, and daily conveniences a natural draw for prospective renters. Highway 80 access nearby connects the site to the broader Bay Area, including Richmond, Berkeley, Oakland, and San Francisco.
Details
| MLS # | 41140629 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 61 |
| Listing Provided By | BCRE | Davide Pio |
Features
| Zoning | NMX |
|---|---|
| Acreage | 1.22 |
Exterior
| Lot Features | Corner Lot, Street Level |
|---|
Utilities
| Utilities | Natural Gas Available, Phone Available, Sewer Available, Water Available |
|---|
Area Information
| State | CA |
|---|---|
| County | Solano |
| City | Vallejo |
| Zip Code | 94590 |
| Listing VS Median (in 94590) | |
Price: $350,000 low | high Med: $493,500 On site: 61 low | high Med: 78.5 | |
Market Activity 94590
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Learn More About This Property
| State | CA |
|---|---|
| County | Solano |
| City | Vallejo |
| Zip Code | 94590 |
| Listing VS Median (in 94590) | |
Price: $350,000 low | high Med: $493,500 On site: 61 low | high Med: 78.5 | |
