A RARE OPPURTUNITY FOR BUILDERS, DEVELOPERS, AND INVESTORS!! A 32,286 SQ FT LOT LOCATED IN THE HIGHLY SOUGHT OUT AREA OF NEWPORT BEACH, OFF PCH AND SUPERIOR AVE, IS NOW AVAILABLE FOR PURCHASE! THE MOST VALUE IS IN ITS LAND, LOT SIZE, LOCATION, AND FUTURE USE. IT CURRENTLY HAS A 10,000 SQ FT MEDICAL BUILDING, 5 UNITS TOTAL, 3 UNITS LOCATED IN THE SINGLE-STORY SIDE OF THE BUILDING AND 2 UNITS LOCATED IN THE TWO-STORY SIDE OF THE BUILDING. THE LOT IS CURRENTLY ZONED FOR MEDICAL COMMERCIAL USE. THE LOT WAS ORGINALLY ZONED AS A MULTIPLE UNIT RESIDENTIAL (RM 18 DU/AC). ON DECEMBER 8,2011, AMENDMENTS TO THE GENERAL PLAN AND ZONING MAP TO CHANGE THE LAND USE DESIGNATION FROM (RM 18 DU/AC) TO MEDICAL COMMERCIAL OFFICE (CO-M 0.49 FAR); AND CHANGE THE ZONING DISTRICT DESIGNATION FROM MULTIPLE UNIT RESIDENTIAL (RM2420) TO OFFICE MEDICAL (CO-M 0.49 FAR) WERE INITIATED BY THE OWNER, WHO SOUGHT TO CONTINUE THE EXISTING OFFICE USE OF THE PROPERTY. THE LAND USE MAY BE REZONED TO ITS PRIOR USE, WITH FUTURE POSSIBILITIES TO BUILD MORE HOUSING, OR A RESIDENTIAL CARE FACILITY, CONVENIENTLY LOCATED CLOSE TO THE BEACH, WITH PARKS NEAR BY, NEWPORT HARBOR, BALBOA BAY AND IS CONVENIENTLY LOCATED DOWN THE STREET FROM HOAG HOSPITAL. IT MAY ALSO REMAIN IN ITS CURRENT ZONE USE, WITH RENOVATIONS TO THE EXISTING BUILDING, MAXIUMIZING ITS MEDICAL USE POTENTIAL FOR HIGHER REVENUES.
Listing courtesy of Listing Agent: Maritza Jimenez (mjimenez.landmark@gmail.com) from Listing Office: Landmark Property Management.
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
