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Mildred Street - 6.54 acres, NWC Murrieta Rd. and Mildred St. 6.54 Acres of Residential Land Offered at $3,500,000 in Perris, CA 92570
Investment Highlights
- Infill property, well-located for Senior Apartments with good freeway access and shopping nearby.
Executive Summary
This 6.54-acre residential land parcel is positioned at the northwest corner of Murrieta Road and Mildred Street in Perris, CA, in one of Southern California’s fastest-growing corridors. Currently offered at $3,500,000, the property sits in an infill location with excellent visibility and convenient access to major freeways, retail centers, and essential services.
The lot features a Senior Housing Overlay and is part of a preliminary application submitted for a 236-unit senior apartment development, with city comments already provided, allowing significant progress toward entitlements. Future zoning adjustments include a pending R-22 overlay supporting higher density residential development (up to 22 dwelling units per acre).
With its strong surrounding residential base and active subdivision activity, this site represents a rare opportunity for developers and investors seeking to deliver senior living or multifamily housing in an area marked by sustained demographic growth and robust housing demand.
The lot features a Senior Housing Overlay and is part of a preliminary application submitted for a 236-unit senior apartment development, with city comments already provided, allowing significant progress toward entitlements. Future zoning adjustments include a pending R-22 overlay supporting higher density residential development (up to 22 dwelling units per acre).
With its strong surrounding residential base and active subdivision activity, this site represents a rare opportunity for developers and investors seeking to deliver senior living or multifamily housing in an area marked by sustained demographic growth and robust housing demand.
Property Facts
| Price | $3,500,000 | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | Apartment Units |
| No. Lots | 1 | Total Lot Size | 6.54 AC |
| Property Type | Land | ||
| Zoning | SHO - Senior Housing Overlay | ||
| Price | $3,500,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units |
| Total Lot Size | 6.54 AC |
| Zoning | SHO - Senior Housing Overlay |
1 Lot Available
Lot 3 parcels
| Price | $3,500,000 | Lot Size | 6.54 AC |
| Price Per AC | $535,168.20 |
| Price | $3,500,000 |
| Price Per AC | $535,168.20 |
| Lot Size | 6.54 AC |
This 6.54-acre residential land parcel is positioned at the northwest corner of Murrieta Road and Mildred Street in Perris, CA, in one of Southern California’s fastest-growing corridors.
Description
Ownership has submitted a preliminary application for a 236 unit Senior Apartments project. City has provided comments. Buyer to complete the entitlements.
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Fairly walkable
40/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $2,161,869 | Total Assessment | $2,161,869 |
Property Taxes
Parcel Numbers
Land Assessment
$2,161,869
Improvements Assessment
$0
Total Assessment
$2,161,869
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Mildred Street - 6.54 acres, NWC Murrieta Rd. and Mildred St.
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