Prime Multi-family Development Opportunity Listing Details & Market Data

The subject property is located at the southern border of Nevada County in unincorporated Grass Valley. It is situated in the Sierra Nevada foothills almost mid-way between the town centers of Grass Valley and Auburn, both only about 10 minutes away. Sacramento is an easy 30-40 minute drive while the outstanding recreational opportunities of the Truckee/Tahoe area lie only about an hour away. The trade area population is approximately 30,000 people with an average household income over $87,000. The exclusive Lake of the Pines subdivision with over 2000 homes is only 1/2 mile from the site along with North Auburn's only high school - Bear River. Approximately 32,500 cars per day pass Combie Road on Highway 49, which is less than 1/2 mile away, with about 16,000 additional vehicle trips directly in front of the property on newly improved Combie Road.An outstanding residential development opportunity in a blazing hot market, this offering consists of two adjoining parcels totaling 7.18 acres zoned R2 (Multi-family Medium Density) allowing up to 6 dwelling units per acre. Located less than 1/2 mile from Highway 49 midway between Auburn and Grass Valley and near Lake of the Pines and the outstanding South County schools of Bear River, Magnolia and Cottage Hill. Adjacent to the recently developed 79-home Cascade Crossing subdivision that is seeing rapidly escalating values and multiple over-ask bids on resales. The property has a gentle upslope topography with desirable southern exposure. Underground sewer, water and power in place at front of property. Potential rental income of $3600/mo post-closing while obtaining entitlements! This is a developer's dream site!