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.

  • MLS# PI18273071
  • Sub-Type Resale
  • Status Active
  • Days On Site 27
Zoning RMF
Acreage 1.25
Property View Yes
Listing Provided By:
Jeffrey King  of  Keller Williams Realty Central Coast
 
this listing $980,000
460.00%
$175,000 in 93428
this listing 27 on site
95.73%
633 on site in 93428

Location

State CA
County San Luis Obispo
City Cambria
Zip Code 93428
Area CAMB - Cambria

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