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Elite Real Estate Group
info@elitereg805.com$7,500,000
Est. payment /mo
8.86 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID V1-37571
HOA Y/N No
Lot Size 8.860 Acres
Property Description
Development Opportunity! Fully entitled, construction-ready, 240 unit institutional-scale apartment community. Mesa Trails Apartment Community presents a rare opportunity to acquire a fully entitled, 240-unit market-rate multifamily development in Nipomo, California, one of the Central Coast's most attractive and supply constrained housing markets. Situated on approximately 8.86 acres with direct access to U.S. Highway 101, the project combines entitlement certainty, strategic regional connectivity, and exposure to a market where demand for quality housing continues to exceed available inventory. The project received full approval from the San Luis Obispo County Planning Commission in February 2024, including Conditional Use Permit approval and CEQA clearance through an adopted Mitigated Negative Declaration. With all major discretionary approvals secured, a new owner can advance directly toward construction permitting, eliminating a significant portion of the entitlement risk, cost, and timeline typically associated with multifamily development in California. Nipomo occupies a strategic position between Santa Maria and San Luis Obispo and benefits from access to the Central Coast's primary employment centers, educational institutions, healthcare providers, and regional economic drivers. Supported by a diverse economy and an increasingly affluent population base, the area continues to experience sustained housing demand while maintaining significant barriers to new supply. As one of the few large-scale multifamily development opportunities on California's Central Coast offering both entitlement certainty and market-rate positioning, Mesa Trails represents a compelling opportunity to deliver new housing in a market defined by strong fundamentals, limited inventory and long-term growth potential.
Location
State CA
County San Luis Obispo
Area Npmo - Nipomo
Zoning C-R
Interior
Fireplace No
Exterior
Fence None
Community Features Foothills, Mountainous, Rural
Utilities Available None, Water Not Available
View Y/N Yes
View Hills, Meadow, Mountain(s), Valley, Trees/Woods
Building
Lot Description 26-30 Units/Acre, Sprinklers None
Water None
Others
Senior Community Yes
Tax ID 092579014
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard
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Listed by Steven Golis Radius Group Commercial RE sgolis@radiusgroup.com, DRE #00772218
Nearby Schools & Businesses
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Elite Real Estate Group
Team