Affordable Housing Conversion Opportunity - 77 Units in San Diego County

555 Centre City Parkway, Escondido, CA

$10,000,000

Price

24,015 sqft

Building Size

1.53 acres

Lot Area

Overview
Building Size
24,015 sqft
Lot Area
1.53 acres
Units
77
Year Built
1974
Floors
2
Description

The Property Offering is the Potential to convert the Existing 77 Room Hotel to an Affordable Housing/Apartment Community.

Located on Centre City Parkway

Highlights
  • Across Street from Significant New Residential and Commercial Development
  • Motivated Seller who has Sold in Past to Affordable Housing Developer and Understands the Process
  • Current Zoning Permits Conversion to Multi-Family by Conditional Use Permit
  • The City of Escondido Planning Department Favors Conversion to Affordable Housing
  • Recently Painted and New Roofs
  • Continue as existing Hotel and transition to Multi-Family
  • Seller may consider Joint Venture/Maintaining an Interest in Property

Location
Gallery