35820 Arendt Lane, Murrieta, California 92563, Murrieta, 92563 - 3 bed, 2 bath
ACTIVE$3,175,000
35820 Arendt Lane, Murrieta, California 92563
3Beds
2Baths
2,586Sqft
90,169Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Exceptional Development Potential: Prime opportunity for multi-family development, explicitly zoned RO2 for 6-10 units per acre, aligning with current surrounding developments and city planning initiatives.
Top Cons:
High Capital Investment Required: The substantial list price of $3.175 million, combined with the significant costs associated with multi-family development (permits, construction, utilities), necessitates a considerable upfront capital outlay.
Compared to the nearby listings
Price:$3.17M vs avg $700.0K (+$2,475,000)100%
Size:2,586 sqft vs avg 2,585 sqft50%
Price/sqft:$1.2K vs avg $284100%
More Insights
Built in 2000 (25 years old).
Condition: The property, built in 2000, is 24 years old. While the images suggest it is well-maintained and clean, the kitchen features white appliances and dated cabinetry, and the bathrooms have original-era fixtures and finishes. The flooring is a mix of older carpet and tile. The overall aesthetic is functional but clearly outdated, indicating no major renovations since construction. It is move-in ready but would require significant cosmetic updates to meet current styles and standards.
Year Built
2000
Close
-
List price
$3.17M
Original List price
$3.17M
Price/Sqft
$1,228
HOA
-
Days on market
-
Sold On
-
MLS number
SW25184731
Home ConditionFair
Features
Good View:
View
About this home
INVESTMENT OPPORTUNITY !! ATTENTION DEVELOPERS !! MURRIETA near shopping at Costco, Vista Murrieta High School and EZ Access to Hwy 215. 2.07 ACRES in the HEART of current developments of Multi-Family Dwellings! LOCATION, LOCATION, LOCATION! JUST OFF THE CORNER, WITH A NEW TRAFFIC SIGNAL, ON THE EXPANDED CLINTON KEITH ROAD. 1 LOT North FROM CORNER OF ARENDT LANE X CLINTON KEITH. BETWEEN SIGNALS AT WHITEWOOD AND MENIFEE RD. New Developments all around the area in progress and in Murrieta Planning Dept awaiting approval. Current Developer nearby will be paving the street directly in front of this property. There is a Custom Home on the property that could be lived in or used for Construction Office ? or Rental ? Or ?, while you are in Planning. Don't let this one get away from you!! NEARBY PROPERTIES ALSO AVAILABLE. Currently zoned RO2, for 6-10 Units per ac
Condition Rating
Fair
The property, built in 2000, is 24 years old. While the images suggest it is well-maintained and clean, the kitchen features white appliances and dated cabinetry, and the bathrooms have original-era fixtures and finishes. The flooring is a mix of older carpet and tile. The overall aesthetic is functional but clearly outdated, indicating no major renovations since construction. It is move-in ready but would require significant cosmetic updates to meet current styles and standards.
Pros & Cons
Pros
Exceptional Development Potential: Prime opportunity for multi-family development, explicitly zoned RO2 for 6-10 units per acre, aligning with current surrounding developments and city planning initiatives.
Strategic Location: Situated in the 'HEART of current developments' in Murrieta, with high visibility and accessibility due to a new traffic signal on the expanded Clinton Keith Road, and proximity to major amenities like Costco, Vista Murrieta High School, and Hwy 215.
Substantial Land Size: A generous 2.07-acre lot provides ample space for significant multi-family construction, maximizing the potential unit count under the current zoning.
Existing Income/Operational Flexibility: The presence of a custom home on the property offers immediate utility, potentially serving as a rental, construction office, or temporary residence during the planning and development phases.
Impending Infrastructure Improvements: A nearby developer is slated to pave the street directly in front of the property, indicating ongoing infrastructure upgrades that will benefit the site and reduce future development costs.
Cons
High Capital Investment Required: The substantial list price of $3.175 million, combined with the significant costs associated with multi-family development (permits, construction, utilities), necessitates a considerable upfront capital outlay.
Development Process Complexity & Timeline: While zoned favorably, the actualization of multi-family units will involve extensive planning, navigating city approvals, permitting processes, and potential delays, which can be time-consuming and complex.
Limited Residential Value of Existing Structure: The existing 2000-built home's primary value is in its interim utility for a developer; for a traditional residential buyer, its age and potential need for updates or eventual demolition for the land's highest and best use may be a drawback.