340 Pleasant Way, San Marcos, CA 92069
340 Pleasant Way, San Marcos, CA 92069
340 Pleasant Way, San Marcos, CA 92069
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Glen Henderson

Glen Henderson

+1(619) 889-7646
$850,000
Est. payment /mo
2 Beds
1 Bath
0.28 Acres Lot
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID NDP2609564

Bedrooms 2

Lot Size 0.280 Acres

Property Sub-Type Res Income 2-4 Units

Type of Financing Cash,Conventional

Property Type Res Income 2-4 Units

Property Description

340 Pleasant Way is a multifamily development opportunity located in central San Marcos. The property consists of a two-bedroom, one-bathroom single-family residence of approximately 725 square feet, built in 1940, situated on a 12,182 square foot lot. The property is zoned R-3-10, San Marcos' medium-density multifamily designation, which provides for development at 12.1 to 20 dwelling units per acre. The City has indicated a base potential of up to five residential units, with additional upside available through state density bonus provisions. True potential to maximize property and profit could be up to 6 townhomes and 2 ADUs. Zoning being flexible with alternative usage in San Marcos; potentially assisted living facility as an example. Buyer to get approved with City of San Marcos. This site represents a rare infill opportunity in a submarket defined by strong rental demand and limited supply of developable land. Neighboring parcels are already improved with multifamily product, and the location offers direct access to the State Route 78 corridor, Palomar College and California State University San Marcos. With favorable zoning in place, an existing residence capable of generating income throughout the entitlement period, and few comparable sites available in the submarket, 340 Pleasant Way should be valued as a development site rather than as a single-family home.

Location

State CA

County San Diego

Zoning Assessor

Direction Mission Road to Pleasant Way

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 1

Level or Stories 1

Others

Senior Community No

Tax ID 2200810200

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

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MLS Router / San Diego MLS
Listed by Timothy Feuling, DRE#01946782 Compass 

Nearby School & Business

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Glen Henderson

Glen Henderson

+1(619) 889-7646

Broker Associate CA BRE #01384181

Broker Associate CA BRE #01384181

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