This exceptional 5.57± acre multifamily land parcel in Perris, CA, presents a compelling investment opportunity. Zoned MFR-14, it offers significant potential for high-density development, with a preliminary city review in 2023 indicating favorability for upzoning to MFR-22, potentially allowing for up to 125 units. The flat, rectangular site is ideally suited for two- and three-story townhomes, apartments, or condominiums. A preliminary 125-unit project plan was reviewed by the City of Perris in 2022 and 2023. An adjacent 0.43± acre parcel, currently a paper street, may be deeded to the property upon project approval, increasing the total acreage to 5.57± acres (buyer to verify with city planners). This prime location benefits from convenient access to Interstate 215, light rail, and a nearby Metrolink station, enhancing its appeal to commuters. Situated in a Riverside County Opportunity Zone, the property is surrounded by established residential areas, schools (Perris High School and Palms Elementary School), parks, shopping, and dining. The strong local housing market, with a median home price of $506,000 in February 2024, and the potential for density bonuses under AB 2345, further solidify this investment's potential. The APN is 311-180-018, -025, -046, -047. The property is offered fee simple and is suitable for a 1031 exchange. The asking price is $3,999,000.
Highlights
5.57± acre multifamily land parcel in Perris, CA, zoned MFR-14, with potential upzoning to MFR-22 allowing for up to 125 units.
Located in a Riverside County Opportunity Zone.
High demand for both sales and rentals in the area.
New home prices range from the high $400,000s to over $2,500,000.
Median home price of $506,000 (February 2024).
Convenient access to Interstate 215 and nearby Metrolink stations.
Property Details
for 0 Jarvis St
Property type
Land
Lot Size (sq. ft)
242,629 SF
Location Insight
City
Perris
County
Riverside
State
California
Latitude
33.792029965866
Longitude
-117.22205535541
Jarvis St, Perris, California
Nearby Similar for Sale
For Sale
$2,750,000
Perris Residential Land - 116 Acres
Prime Riverside County acreage, ideal for development.
How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
Please check your inbox to complete the process.
Just click on the link in that email to complete your Sign up.
If you don’t see it, you may need to check your spam folder.
Email verification link expired
It seems that the verification link has expired.
No worries! We can send you a new link to email
Log In
Don't have an account?
Reset your password
New to Paperhouses?
Paperhouses
Reset your password
Enter the email address associated with your account and we'll send you a link to reset your password.
Check your email
We've resent password reset instructions to if it is an email on file.
Thanks! If matches an email we have on file, then we've sent you an email containing further instructions for resetting your password.
If you haven't received an email in 5 minutes, check your spam, resend, or try a different email.