8.89 Acres Lot
8.89 Acres Lot
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID WS25030359
HOA Y/N No
Lot Size 8.894 Acres
Property Description
A community of 37 residential lots on 8.894 acres of land in Moreno Valley, County of Riverside. This site surrounds the mature community where all the streets and utilities exist. This location is in the heart of Moreno Valley, where the Northern and Eastern sides of the subject property have prominent existing retail. You will find the additional retail on the western side, and to the south of the project, you will find a golf club accompanied by Moreno Valley College. This is an ideal acquisition for both investors and homebuilders; the well-located and right size can lead to a good profit after it matches the surrounding areas.
The housing market in Moreno Valley is the strongest we have seen this cycle, and all actively selling new homes are trading above the average this past month within this hot market. The price of houses in Moreno Valley increased during the pandemic, and it is still experiencing stable growth. The city of Moreno Valley's workforce growth is trending upwards due to its 5.8 million square feet of industrial space and newly approved world logistics center. Therefore, the residential potential needs are in demand. The household income in Moreno Valley above $100,000 is over 44.4%. The buying power in this area to purchase SFRs averages around $750,000 from 2023 and is projected to trend around that average through 2027.
Location
State CA
County Riverside
Area 259 - Moreno Valley
Zoning R5
Interior
Fireplace No
Exterior
Community Features Biking, Dog Park, Golf, Hiking
View Y/N Yes
View Neighborhood, Peek-A-Boo
Building
Lot Description 2-5 Units/Acre, Corner Lot, Cul-De-Sac, Garden
New Construction No
Others
Senior Community No
Tax ID 487260002
Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan, Conventional, Cal Vet Loan, 1031 Exchange
Listing Terms Cash, Cash to Existing Loan, Cash to New Loan, Conventional, Cal Vet Loan, 1031 Exchange
Special Listing Condition Standard
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