The offering consists of one legal parcel totaling approximately 0.27 acres (+/- 11,761 square feet) located on 3rd Street, just west of its intersection with Old Town Front Street in the heart of Old Town Temecula. The property is located in the Old Town Specific Plan (SP-5) within the Downtown Core District which is intended to provide uses that support pedestrian oriented and mixed-use developments that accommodate a variety of land use focused on service oriented businesses. The height allowance is four stories and residential development between 40-70 DU/AC is also permitted with certain restrictions. The specific plan allows for favorable development standards and parking requirements (if any) are dependent on the proposed land use.