$975,000
$997,000
2.2%For more information regarding the value of a property, please contact us for a free consultation.
4.75 Acres Lot
SOLD DATE : 07/05/2018
Key Details
Sold Price $975,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Oceanside
MLS Listing ID 180019667
Sold Date 07/05/18
HOA Y/N No
Year Built 1974
Lot Size 4.750 Acres
Acres 4.75
Property Description
Working avocado ranch with well and organic certs. Also appears to have a City of Oceanside legal cannabis cultivation entitlement of up to 20,000 sq ft of greenhouse canopy. (Refer to city ordinance) Cap rates, multiplier, etc not functional in this scenario. Value in the land, tenants want to stay. Farm presently managed, fruit production records available. Well water. Quirky opportunity. Non conforming duplex. Permits questionable. Owner sort of a ‘mad scientist’ type resides elsewhere (see supplment Very private gated hill top acreage . Multiple natural pads, minimal grading. Large solar. Electrical runs to extended portions of property. Owner will carry a first T.D. for the entrepreneur who may have bank issues, provided down payment sizable. City Medical Cannabis ordinance in its infancy, and qualifications (many) subject to modification. http://www.ci.oceanside.ca.us/civicax/filebank/blobdload.aspx?blobid=47018, or for summary: http://www.ci.oceanside.ca.us/services/comms/mmac.asp. This is a highly unusual legal business opportunity duplex on the ground floor of a farm to dispensary movement that requires specialized zoning. Offering is subject to confirmation of written city entitlement (waiting), city permits, and state certification of potential new owners if such an endeavor is pursued. Neighborhoods: South Morro Hills Exterior: Wood/Stucco Other Fees: 0 Sewer: Septic Installed Number of Furnished Units: 0 Topography: ,RSLP,GSL,SSLP
Location
State CA
County San Diego
Area 92028 - Fallbrook
Building/Complex Name SMHA
Zoning AGRICULTUR
Interior
Heating Combination, Electric, See Remarks
Cooling See Remarks
Fireplace No
Appliance Electric Water Heater, Solar Hot Water
Exterior
View Y/N Yes
View Ocean, Panoramic
Roof Type Composition
Building
Story 2
Entry Level Two
Level or Stories Two
Others
Tax ID 1212020100
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Bought with Daniela Marshall • HomeSmart Realty West
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CEO | DRE# SA695240000 | DRE# 02100184