MOTIVATED SELLER – OPEN TO ALL OFFERS including a Regular Sale, a Joint Venture proposal or Seller Financing
FINAL BID DATE: 1/18/2018
- Large lot size with an approved tentative tract map in an infill location
- R10 Zoning which allows maximum density of 261-units
- 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 demographics with ±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
The Growth Investment Group is proud to offer a ±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. The lot has R10 zoning which allows up to 261-units maximum density. 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.
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.