Exclusive Listings

26.13 Acres R10 Zoned Lot - Density Up To 261-Units Multifamily

Address:
NEC of Cottonwood Ave and Elsworth St
Moreno Valley, CA 92555
Price:
$6,800,000
Status:
Available
Type:
Land
# Units:
261
Year Build:
0
Building Size:
10 du/ac
Lot Size:
1,138,222 sqft
CAP Rate:
0
GRM:
0x
Price/Unit:
Price/SqFt:
$5.97

INVESTMENT HIGHLIGHTS

  • R10 Zoning with Density Up To 261 Units 
  • Large lot size with an approved tentative tract map for 194-Units in an infill location
  • Rare infill location with enough buildable units in a quickly maturing area
  • Ease of access to neighboring freeways- close proximity to the 60 Freeway on/off ramps with more than 106,000 cars per day
  • Ideally located surrounding residential neighborhoods
  • Within close proximity to Moreno Valley Mall, a 1,090,000 square foot multi-level mall with over 130 stores including Macy’s, JCPenney, Sears, Harkins Theatres, Crunch Fitness, and the Inland Empire’s only Round 1 Entertainment
  • Less than 2 miles away from the Moreno Valley Mall and TownGate area, Moreno Valley’s retail hub with major retailers including, JC Penney, Sears, Gottschalks, Burlington Coat Factory, TJ Maxx/HomeGoods, Ross Dress for Less, ULTA, BevMo!, Starbucks, Chase Bank, Wells Fargo, and many more national and regional credit tenants

Strong Inland Empire Demographics

  • More than 15,900 people in a 1-mile radius with an Average Household Income exceeding $48,300
  • More than 126,600 people in a 3-mile radius with an Average Household Income exceeding $55,300
  • More than 249,100 people in a 5-mile radius with an Average Household Income exceeding $68,900
  • Over 5,600 employees within a 1-mile radius, 28,000 within a 3-mile radius, and 47,000 within a 5-mile radius


EXECUTIVE SUMMARY

The Growth Investment Group is proud to offer Scottish Village, an ±26.13 acres residential infill development site in the City of Moreno Valley, California. The lot is located at the northeast corner of Cottonwood Ave and Elsworth Street. It has an approved tentative tract map for 194 residential units. The lot is a U shaped lot in an infill location surrounded by mature single family residential communities. It is located just across the street from Towngate Elementary School and across the street from a small park with view of mountains on its north side. It enjoys easy access to FWY 60 and FWY 215 and just minutes away from Moreno Valley Mall and Towngate Shopping Center. It offers easy access to public transportation and just minutes from all amenities city of Moreno Valley has to offer.

The sale includes an approved tentative tract map to build 194 residential units.

LOCATION AMENITIES & ACCESS

Moreno Valley’s coming of age can also be seen in the growth of the area around the Moreno Valley Mall (former Riverside Raceway property from 1957 to 1989) and nearby Day Street, which straddles the border between Moreno Valley and Riverside. Local shoppers enjoy the 1.2 million square foot Moreno Valley Mall, anchored by JCPenney, Macy’s and Sears. The area has seen massive construction in recent years, attracting nationally recognized retailers such as Best Buy, Costco, Lowe’s, Ross Dress for Less, Starbucks and other upscale stores. Two major shopping centers with a combined one million square feet have also been developed in the rapidly growing eastern area of the city. This is the site of the first Super Target in California, which opened in July 2007, a Walmart and a Sam’s Club.

Moreno Valley, California, is a city of scenic beauty among boulder-strewn hillsides located just east of Riverside at the crossroads of Moreno Valley Freeway (State Route 60) and Interstate 215. With only half of its 50 square miles built, Moreno Valley is enjoying explosive growth in commercial, residential and industrial sectors. Our population currently exceeds 146,000 plus more than 4,000 single-family homes are currently under construction. Looking into the future, this growth trend is expected to continue with nearly 7,000 single-family and multi-family units, more than 800,000 square feet of retail, and more than 4.4 million square feet of industrial/office projects in plan check or recently approved for construction.


Due Diligence


Broker Contact

Han Widjaja-Chen
Direct: 626.594.4900
han.chen@growthinvestmentgroup.com


Office:
999 S. San Gabriel Blvd.
San Gabriel, CA 91776
Phone: 626.594.4901
Fax: 626.316.7552
Email: properties@GrowthInvestmentGroup.com
Copyright © 2017 GIG Real Estate, Inc. dba. Growth Investment Group
Visit us on social media websites