Murrieta

Property may be ideal for Senior Living Facility. Seller has estimated that new buyer can realize income from existing properties while seeking permits and preliminary work for developments/improvements. Seller estimates that property could build several individual homes for senior living. This c ould allow for nearly 80 rentable rooms with the main Victorian house serving as the main office, kitchen, recreation room and operational facility. Rough estimates show this distribution of units can realize in excess of $350,000 revenu e each month. There are other uses for this property that could be explored considering the proximity to the inner city of Murrieta. ZONING:MU-3 (Multiple Use-3) District. The MU-3 zoning district is consi dered appropriate for a flexible mixture of civic/institutional, office, retail, and residential uses in a mixed-use setting. Residential uses allowed as part of a mixed-use project shall be limited to up to forty (40) percent of the to tal area of dwelling site – call for more.

Exterior Features
Beautiful Property with loads of opportunity for development potential. Currently Large Victorian Style home with Granny Flat in the back. Main House is spacious, stone fireplace, big bonus room over garage. Spacious Master bedroom. Laundry room. Lots of great space around. Home has several beautiful features but does need TLC. Current use is 2-4/single family residential. Seller believes highest and best use is Multi-Unit Commercial Residential income property (see supplement). Zoned Commercial Mixed Use

Additional Features and Amenities
Property Zoned Multiple Use-3.See below for zoning disc from city. Property is located on Adams Avenue which is conveniently located to everything that Murrieta has to offer. Located approx. 1/4 mile from downtown Old Murrieta. Property is close by to the newer Senior Citizen Center building, Murrieta City Library, Police and Fire stations and the Newer Murrieta Civic Center. This property has already been surveyed and mapped to build out 42 condo units on the property. Rendering map is available upon request. Indian Artifact and Arborist reports have been performed as well. Due to the economy and economic reasons, seller put project on hold.

Price: $1,300,000

MLS# 100020474
List Date 4/2/2010
Type Commercial
Style Victorian
Area Murrieta
Units 2
Bedrooms 4
Bathrooms 3
Bathrooms-Partial 1
Square Footage 2361/700
Lot Size 2.65 acres
Age 1986
Parking garage + land