664 N Fig St

Description

Prime Multi-Family Development Opportunity in the Heart of Escondido, CA Entitled 15-Unit Multi-Family Project | Zoned R-3-18 | High-Demand Rental Market. (Potential for Density Bonus & Incentives – Verify with City of Escondido)This 15-unit multi-family project is fully entitled and located just two blocks from premier shopping, dining, and major transportation corridors, offering developers a highly desirable location with strong rental demand. 15 Spacious Residential Units, (14) Three-Bedroom, Two-Bathroom Units and (1) Two-Bedroom, 2.5-Bathroom Unit. Average Unit Size: 1,365 Sq. Ft, Total Net Rentable Area: 20,482 Sq. Ft. Entitlements & Development Progress: Over $350,000 invested in soft costs, entitlements, and permit fees, Class D wood-frame construction over a concrete first floor and approved for 3 stories with a maximum height of 35 feet. Nestled in North San Diego County, Escondido, California, is a thriving and dynamic community known for its affordable housing, vibrant arts scene, and outstanding quality of life. Conveniently situated along the I-15 corridor, Escondido provides direct access to downtown San Diego (30 miles south) and is a gateway to some of Southern California’s most sought-after recreational destinations. Growing Demand: Escondido’s rental market is strong and stable, driven by a mix of families, professionals, and retirees seeking larger, more affordable housing options compared to coastal cities. Economic Growth & Infrastructure: Escondido is undergoing significant revitalization efforts, including improvements to its historic downtown district, increased investment in mixed-use developments, and transit-oriented projects that enhance long-term property value. This is a turnkey development opportunity in one of San Diego County’s most promising multi-family markets.

Listing information courtesy of: Jeff Kane, Coldwell Banker West 760-518-4900. *Based on information from the Association of REALTORS/Multiple Listing as of 02/12/2025 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.