2804 S Grade Rd 10.52 Acres of Residential Land Offered at $5,500,000 in Alpine, CA 91901
INVESTMENT HIGHLIGHTS
- Quiet Neighborhood
- Development Reports Available
- Scenic
- Multi-lot Development
- Flat Topography
- Development Opportunity
EXECUTIVE SUMMARY
Extreme opportunity for developers, owner users, and investors to own this 10.52 acre lot in Alpine. Tentative Maps for 26 lots at wholesale value. Several reports have been recently completed to now make this development a reality. With the new Tif requirements and Nitrate study, it not only makes it doable but also affordable.
The land offers you 4 rentals bringing you in $7,300/month. Property has a 375 hundred year old mission olive tree grove. High producing well water. Amazing location in the beautiful heart of Alpine. Located near Wright's field which offers walking trails, Palo Verde Lake minutes away. Less than five minutes from restaurants, grocery stores, gas and freeway access. Call for more information on the studies and reports. All offers willing to be open to negotiate terms.
The land offers you 4 rentals bringing you in $7,300/month. Property has a 375 hundred year old mission olive tree grove. High producing well water. Amazing location in the beautiful heart of Alpine. Located near Wright's field which offers walking trails, Palo Verde Lake minutes away. Less than five minutes from restaurants, grocery stores, gas and freeway access. Call for more information on the studies and reports. All offers willing to be open to negotiate terms.
PROPERTY FACTS
1 LOT AVAILABLE
Lot
| Price | $5,500,000 |
| Price Per AC | $522,813.69 |
| Lot Size | 10.52 AC |
DESCRIPTION
Alpine's 100-year-old olive grove was once cultivated for its desired Mission Olives fed by a great producing well. The orchard was divided by South Grade Rd and leaving half of the remaining orchard on this property. Given the name Olive Grove Estates, this 10.5 acre property is currently bringing in $7,300/month from rental income with recent tentative map and studies completed for a 26-unit development. The property is extremely level and nestled in the heart of Alpine and minutes from Viejas Casino & Resort and local restaurants and grocery stores. Free access is a 5-minute drive with Downtown San Diego being a 37-minute drive.
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PROPERTY TAXES
| Parcel Number | 404-430-46 | Improvements Assessment | $260,100 |
| Land Assessment | $1,612,620 | Total Assessment | $1,872,720 |
