Great development opportunity situated in a prime location with promising prospects for both the present and the future. The continuous expansion of Highway 74, coupled with the ongoing development in adjacent cities, positions this property as a strategic investment. Lake Elsinore, a city experiencing a remarkable 30% population growth over the past decade, boasts the second-highest population increase in California. The city is undergoing significant downtown and lake redevelopment projects, adding allure to the area and attracting an even larger population. Additionally, multiple housing projects are currently underway in the vicinity. Highway 74, an intercity route connecting Perris and Lake Elsinore, is witnessing heightened importance. Moreover, the planned California High-Speed Rail passing through Perris to link Corona and San Diego enhances the region's accessibility and potential for growth. This opportunity involves two contiguous parcels, (APN#: 347-110-071, 347-110-074), approximately 4.42 acres, located at a signalized corner of Highway 74 and Riverside Street in Lake Elsinore. This development potential usable land holds C2 zoning, including C1 and C0 classifications. Recommend buyers to check with the County for details.
Property Type :
Land
County :
Riverside
Style :
Land
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ByOwner last updated this listing 05/11/2024 @ 22:47
MLS: DW24004981
LISTED BY: Esther Kaveney, eXp Realty of Greater L.A
SOURCE: CRMLS
Buyer Agency Compensation: 3%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.
