860 3rd St - 860 3rd Street

Marcus & Millichap is pleased to present the opportunity to acquire a single-family residential site in the City of Fillmore, Ventura County, California. The property is located at 860 3rd Street and measures approximately 4.28 acres. The site is rectangular in shape and has 632 feet of frontage along B Street and 295 feet of frontage along both 2nd Street and 3rd Street. The size of the site and proximity to schools, supporting retail services, parks, and other outdoor recreational sites make it optimal for development. The general plan land use designation for the site is Residential Low Density and the zoning is Residential Planned Development Low. Under the general plan land use designation and zoning, the site can be developed at a density up to seven dwelling units per acre. With density bonuses permitted under state law, the residential density can exceed seven units per acre. The property is one of the last large-scale infill residential sites in Fillmore and has an ideal location for single-family residential development. Schools are within easy walking distance from the site. Fillmore Middle School is located directly across the street, Mountain View Elementary School is two blocks to the north, and Fillmore High School is less than one mile to the east. Dolores Day Park and Schiell’s Park are both less than one-half mile away. Grocery stores, drug stores, bank, restaurants, personal services and other retail establishments are located along Ventura Street, less than one mile south of the site. Like many communities in Ventura County, Fillmore has exhibited consistent population growth over the past twenty years. The population in the city increased 14.2% since 2000. As with many areas of California, significant development constraints have prevented an adequate supply of new housing from being built over the past several years. With limited supply coming to market, home prices continue to increase. According to the Ventura County Coastal Association of Realtors, the median home price in Ventura County increased from $600,000 to $750,000 over the past two years, an increase of more than 25%. There is strong demand for housing in the area and limited new home development.