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listing
1 of 8
Residential Income
$1,995,000
976 La Moree Road
San Marcos, CA 92078
Listed by Kire Nastevski [email protected] Marcus & Millichap
MLS: California Regional MLS (CRMLS)
Est. Mortgage
$10,398/mo

We are pleased to present the opportunity to acquire 2 detached SFR’s on a 7.71-acre potential development site in San Marcos, California, the city with the fastest growing population along the 78 Corridor. The 2- & 3-bedroom residences are currently being operated as rental properties and renting for $1,750 & $2,400 per month, respectively. Additionally, the 3-bedroom residence recently underwent a renovation program and is significantly under-market rent. The site’s R-1-20 zoning currently allows for 15 single-family homes, and potentially up to 20 single-family homes with a Conditional Use Permit. The site location delivers the necessary elements for high-quality development projects. The micro-location is ideal, notably, the site is immediately adjacent to a 23-acre park and nature center, with a picnic area, playground, and walking trails. Employment along the 78 Corridor exceeds 276,000 jobs. The City of San Marcos boasts an economic base with 45,000+ jobs, more than 4,300 businesses, and annual GDP totaling $7.9 billion. San Marcos is also home to California State University San Marcos (CSUSM), Palomar College, and 6 other academic institutions, accounting for 12 percent of the San Diego region’s total academic completions. The site offers investors the unique opportunity to continue improving current operations while planning a future development to maximize the potential of the site. A myriad of development possibilities are available including increased density under SB 9 & 10.

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