31500 Olive Ave - Residential LAND FOR SALE


Winchester, CA 92596 853,776 SF
$6,150,000 USD
619-206-2655
31500 Olive Ave, Winchester, CA for Sale
$6,150,000 USD
Residential LAND - FOR SALE
1/11
853,776 SF

31500 Olive Ave
Winchester, CA 92596


HIGHLIGHTS

  • 60-unit development possible
  • Less than one year to tentative map possible with SB 330
  • Not impacted by cost of regional flood control system
  • Winchester is within commute distance of San Diego, Orange and Los Angeles counties

OVERVIEW

Tentative Map: Property qualifies for streamlined entitlement under SB 330. Tentative map processing time is expected to be less than a year. Flood Control: Property and surrounding areas require a flood-control structure, Line A. Seller and surrounding owners have an easement and cost-sharing agreement for construction. Subject property's sole contribution: granting an easement. In exchange for the easement: Exempted from design or construction costs of the channel. Excavated dirt will be stockpiled on the property. Unique advantage: lowers overall completion costs. Market: Winchester is a thriving, predominantly new home market. Major builders include Lennar, D.R. Horton, Meritage, and KB Home. Builders sell new homes at a rate of 1.5+ homes per week. Early 2020 home prices: Mid-$300,000s to mid-$400,000s. Recent home prices: Starting in low $500,000s for homes under 1,400 square feet. Exceeding $900,000 for homes over 4,000 square feet in Lennar's East Menifee community. Median home price: Increased from $590,000 (December 2023) to $627,000 (December 2024).

FOR SALE DETAILS

PRICE

$6,150,000 USD

PRICE/ACRE

$313,776/AC

PRICE/SF

$7 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY NAME

Olive Avenue Estates

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Residential

LAND PROPOSED USE

Multi-Family, Single Family Development

LAND ACRES

19.6 AC

LAND SF

853,776 SF

OFFSITE IMPROVEMENTS

Sewer, Water, Electricity, Gas, Streets, Curb/Gutter/Sidewalk, Cable, Telephone, Irrigation

ZONING

R-1

APN/PARCEL ID

462-050-006,462-050-015

ASK ABOUT THIS PROPERTY

Harry FotinosH.J. Fotinos, Inc.More Info
619-206-2655

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Harry FotinosH.J. Fotinos, Inc.More Info
619-206-2655

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.