MarketPier

1981 Green Street - Cambria, CA 93428

$980,000
Listing Description

Investment opportunity in Cambria. Kingston Bay is offering its 1.25-acre site in Cambria, Ca. 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 California's 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 11.78 EDU's of water, though prior payment of a water conservation fee. These parcels hold the Number 1 and Number 9 Cambria Community Services District Wait List positions for new water and sewer connections. People's Self-Help Housing also owns zoned property in Cambria, possess a Will-Serve letter and holds District Wait-List positions for a housing project. Their 33-unit Schoolhouse Lane apartment project was approved by the San Luis Obispo Planning Commission on January 10, 2019.

Listing Information
MLS Number
PI19113226
APN/Parcel ID
024191056
Type
Land
Sub Type
Land
Lot Size
7,861 sqft
Listing Date
5/15/2019
Days Active
62
Last Updated
7/17/2019
Listing Provided By
Scott Maples
Keller Williams Realty Central Coast
BRE# 01906787

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