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Listed by Mark Testa • Sellers Net Inc
$5,470,000
Est. payment /mo
6.19 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC-26197555
Lot Size 6.190 Acres
Source California Regional Multiple Listing Service (CRMLS)
Property Description
**6.19± ACRES | DOWNTOWN CENTER | MULTIFAMILY DEVELOPMENT OPPORTUNITY | MORENO VALLEY**
**Prime 6.19± acre development opportunity directly across from the new Lewis Downtown Center at Nason Street and Alessandro Boulevard.** Located in Moreno Valley's Downtown Center Zoning with no density limit. this exceptional site offers a developer the rare opportunity to acquire a substantial, strategically located parcel with multiple development options. The property has already been studied for a **190-unit multifamily development**, providing a potential starting point for a developer looking to move forward with an existing concept. or a **blank slate** for a developer to create its own vision and maximize the site's tremendous potential.
Situated and bordering three streets**, the property offers excellent access, frontage, visibility and design flexibility that is difficult to find in a site of this size. Its location directly across from the planned **Lewis Downtown Center** creates significant long-term upside as the surrounding area develops into one of Moreno Valley's major mixed-use destinations.
The property is also currently generating approximately **$12,000 per month in income**, providing the opportunity to **bank the property and collect income while the Downtown Center continues to develop**, or move forward with a multifamily project now.
**2 strategies:**
• Move forward:** Utilize the existing 190-unit multifamily concept or develop your own higher-density design.
• Bank and hold:** Acquire the property, collect approximately $12,000/month in current income, and benefit from the continued development of the surrounding Downtown Center.
The location is approximately **one mile from Riverside University Medical Center and Kaiser Permanente**, providing convenient access to major employment, healthcare and transportation corridors.
This is an opportunity to control a significant piece of land in one of Moreno Valley's most important emerging development areas—with an existing income stream, an existing multifamily concept, and substantial flexibility for a developer to pursue its own vision.
**6.19± Acres | Downtown Center | Potential 190 Units | $12,000± Monthly Income | Across from Lewis Downtown Center | Multifamily Development Opportunity** Also available to buy only 3 acres with houses on Larkmead court for 3.4 M. generating 9k per month.* Buyer to do their own diligence and verification of these estimates.
**Prime 6.19± acre development opportunity directly across from the new Lewis Downtown Center at Nason Street and Alessandro Boulevard.** Located in Moreno Valley's Downtown Center Zoning with no density limit. this exceptional site offers a developer the rare opportunity to acquire a substantial, strategically located parcel with multiple development options. The property has already been studied for a **190-unit multifamily development**, providing a potential starting point for a developer looking to move forward with an existing concept. or a **blank slate** for a developer to create its own vision and maximize the site's tremendous potential.
Situated and bordering three streets**, the property offers excellent access, frontage, visibility and design flexibility that is difficult to find in a site of this size. Its location directly across from the planned **Lewis Downtown Center** creates significant long-term upside as the surrounding area develops into one of Moreno Valley's major mixed-use destinations.
The property is also currently generating approximately **$12,000 per month in income**, providing the opportunity to **bank the property and collect income while the Downtown Center continues to develop**, or move forward with a multifamily project now.
**2 strategies:**
• Move forward:** Utilize the existing 190-unit multifamily concept or develop your own higher-density design.
• Bank and hold:** Acquire the property, collect approximately $12,000/month in current income, and benefit from the continued development of the surrounding Downtown Center.
The location is approximately **one mile from Riverside University Medical Center and Kaiser Permanente**, providing convenient access to major employment, healthcare and transportation corridors.
This is an opportunity to control a significant piece of land in one of Moreno Valley's most important emerging development areas—with an existing income stream, an existing multifamily concept, and substantial flexibility for a developer to pursue its own vision.
**6.19± Acres | Downtown Center | Potential 190 Units | $12,000± Monthly Income | Across from Lewis Downtown Center | Multifamily Development Opportunity** Also available to buy only 3 acres with houses on Larkmead court for 3.4 M. generating 9k per month.* Buyer to do their own diligence and verification of these estimates.
Location
State CA
County Riverside
Area 259 - Moreno Valley
Zoning DC Downtown Center
Exterior
Community Features Suburban, Urban
Utilities Available Electricity Available, Natural Gas Available
View Y/N No
View None
Building
Lot Description 6-10 Units/Acre
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John R Thompson
Broker/Owner License ID: 01200900
Broker/Owner License ID: 01200900