ENTITLED 84 UNIT SITE
Seller has received conditional approval for the 84-unit site. Buyer must complete list of conditions to move to construction phase.
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, STREET ACCESS, UTILITIES TO SITE
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.
