|Price/Rent PSF||$ 575,000.00|
Grass Valley is nestled in the Sierra Nevada foothills only one hour from both Lake Tahoe & Sacramento. Located below the snow line & above the fog for the perfect 4-season climate. Within 90 minutes of 4 major universities (UC Davis, CS Chico, CS Sacto & UN Reno) & 2 intl. airports (Sacto & Reno). Nevada County’s economy has effectively transitioned from mining/logging/construction to video tech, digital media & other high-tech industries, balanced by national-caliber arts & entertainment sectors. With superb schools & multiple national awards relating to unbeatable quality of life, the region continues to attract residents & businesses from nearby Sacramento & the Bay Area.
A rare infill parcel with a pleasant single family home currently rented on a month-to-month basis. The property was fully approved in 2007 for 24 zero-lot-line single family homes. Grass Valley is in dire need of affordable market rate housing. With massive demand and rapidly accelerating home prices, this development opportunity represents a very attractive and financially viable project. Having received City Council approval in '07, much of the development work and required studies have been completed and entitlement risk minimized. The site enjoys an attractive in-town location lying within walking distance to cafes, stores and other services, plus $800/mo income from the existing house rental. Current cash flow plus tremendous upside potential make this a very attractive property for an investor, homeowner, developer or entrepreneur.