Greg Malik Real Estate
1981 Green Street
Cambria, CA 93428

Description

Investment opportunity in Cambria. Kingston Bay is offering its 1.25-acre site in Cambria, California for sale. The property is zoned for multi-family and consists of 7 contiguous parcels. The property has been designed as a 31-Unit, 41 bed assisted living and memory care facility. However, there is no restriction on project type as long as it falls within the allowable uses of the RMF zone. The subject property is uniquely positioned for development in a significantly underserved and affluent market. The community of Cambria-by-the-sea is located on Californias central coast between Morro Bay and San Simeon. Housing in this area is scarce and professionally operated senior housing, specifically assisted-living & memory care is non-existent. It has secured 11.28 EDUs of water, through prior payment of a water conservation fee. The parcels hold the Number 1 and Number 9 community utilities districts wait list positions for new water connections. Peoples Self-Help Housing also owns zoned property in Cambria, possesses a Will-Serve letter and holds District Wait-List positions for a housing project. They have completed their application for project approval and are preparing to submit and begin the approval process. Broker Jeff King has an ownership interest in this listing.

Details

MLS#PI18273071
Sub-TypeResale
StatusActive
Days On Site34

Features

ZoningRMF
Acreage1.25
Property ViewYes

Market Activity 93428

Loading Form

Loading Form

Area Information

StateCA
CountySan Luis Obispo
CityCambria
Zip Code93428
AreaCAMB - Cambria
Listing VS Median (in 93428)
Price:
$980,000
low | high
Med:
$225,000
100% of Average
On Site:
34
low | high
Med:
143
23.776223776224% of Average
Listing Updated: 12/16/2018
MLS Number: PI18273071
Listing Provided By:
Jeffrey King  of  Keller Williams Realty Central Coast
Real Estate Links Our Domains