41019256 H Ave
Hesperia, CA 92345
Entitled for 23 Senior Units Hesperia Ca 9234 · Land For Sale · 1.29 AC

23 AFFORDABLE SENIOR HOUSING UNITS WITH APPROVED DENSITY BONUS The seller has received approvals for the density bonus agreement, allowing a future developer to build 23 units instead of 19 units, comprised of 14 one bedroom and 9 two-bedroom units. ONLY 6 MONTHS TO BREAK GROUND The next owner will only need to finish street plans, grading plans and receive approvals for final working drawings which should take approximately 6 months. OFFSITE COST SAVINGS Water & Sewer lines are already in place to service the property, saving future developer on offsite costs. The site only needs pavement & sidewalk improvements. STRONG MULTIFAMILY FUNDAMENTALS Although the densely populated, high-cost Coastal Markets in California, have been struggling. The lower density eastern regions like the Inland Empire have exhibited positive rent growth. Hesperia’s asking rent growth over the last year is +2.8%, whiles its vacancy sits at a low 1.6% (down 180 basis points from a year prior). STRONG CITY SUPPORT Hesperia in on board with Multifamily housing development and is very business friendly. RECENT NEARBY DEVELOPMENT PROJECTS West Main Villas is a 200-unit duplex project that is located to the west of Interstate-15 on Main Street. The Villa 55+ of Hesperia is a 96-unit complex located to the east of the 15-Freeway. There are also several recent retail developments including: Planet Fitness, Starbucks, Jimmy John’s Gourmet Sandwiches, and Aldi. COMMUTABLE TO OVER 2.83 MILLION JOBS Within a 30-minute drive there are over 93,000 jobs, within a 60-minute drive there are over 879,000 jobs, and within a 90-minute drive there are over 2,832,000 jobs. Easy access to jobs provides an increasingly robust tenant base.