$850,000

Welcome to 340 Pleasant Way - make this your home with opportunity to build additional homes or ADU's on the property per city allowances. Great multi-generational property zoned R-3-10. If you want a property that becomes more like a compound for you and your family to live in multiple homes on the same 12,182 square foot lot - this just may be your new home!!! In the longer term, you could potentially subdivide a portion of the land and sell it separately to pay for your construction costs for additional homes/ADU's. This property is also a multifamily development opportunity located in central San Marcos. The property consists of a two-bedroom, one-bathroom single-family residence of approximately The property is zoned R-3-10, San Marcos' medium-density multifamily designation, which provides for development at 12.1 to 20 dwelling units per acre. The City has indicated a base potential of up to five residential units, with additional upside available through state density bonus provisions. True potential to maximize property and profit could be up to 6 townhomes and 2 ADUs. Zoning being flexible with alternative usage in San Marcos; potentially assisted living facility as an example. Buyer to get approved with City of San Marcos. This site represents a rare infill opportunity in a submarket defined by strong rental demand and limited supply of developable land. Neighboring parcels are already improved with multifamily product, and the location offers direct access to the State Route 78 corridor, Palomar College and California State University San Marcos. With favorable zoning in place, an existing residence capable of generating income throughout the entitlement period, and few comparable sites available in the submarket, 340 Pleasant Way should be valued as a development site rather than as a single-family home.