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    300 Sequoia Cir Porterville, CA 93257

    Sponsored
    For Sale
    $645,000

    48-Unit Apartment Development Site

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    Exceptional investment opportunity in Porterville, CA, presenting ±2.03 acres (APN 247-160-036, 037, 040, 043, 044, 045, & 046) zoned RM-3. This shovel-ready site boasts a tentative map approved for a 48-unit multifamily apartment complex, comprising five two-story buildings with a mix of 32 one-bedroom and 16 two-bedroom units. The development plan includes 124 parking spaces (2.5 spaces per unit), 10,000 square feet of open space (9,600 square feet actively utilized), and a planned rod iron fence. All curb, gutter, street lighting, and underground utilities are already in place, significantly reducing development costs and timelines. The property's prime location near Henderson Avenue offers convenient highway access and proximity to regional retail developments, schools, the airport, and the city center. This high-density zoning allows for reduced minimum setbacks, maximizing buildable area. The asking price is $645,000. This is a fantastic opportunity for developers seeking a ready-to-build multifamily project in a thriving area with strong demand for rental housing. The seven parcels are free and clear, making this a streamlined acquisition process.

    Property Features for 300 Sequoia Cir

    General Information

    Property type
    Land
    Lot Size
    88,427 SF

    HighLights

    • Free and clear, shovel‑ready 12.03‑acre site in Porterville, CA, ready for immediate development.
    • Proposed 48‑unit multifamily apartment complex with 16 two‑bedroom and 32 one‑bedroom units in five two‑story buildings.
    • All utilities (curb, gutter, street lighting, and underground) are already in place.
    • High‑density RM‑3 zoning allows for reduced setbacks, maximizing buildable area.
    • Seven parcels (APN 247‑160‑036, 037, 040, 043, 044, 045, & 046) totaling ±12.03 acres.
    • Convenient location near Henderson Avenue with easy highway access, proximity to retail, schools, the airport, and downtown Porterville.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Porterville
    County
    Tulare
    State
    California
    Longitude
    -119.0235752
    Latitude
    36.0816377

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    FAQs

    What type of property is this?
    Land - 48-Unit Apartment Development Site
    Where is this land located?
    The property is located at 300 Sequoia Cir Porterville, CA.
    What is the asking price?
    The asking price for this property is $645,000.
    What are key features of this property?
    This property features: Free and clear, shovel-ready 12.03-acre site in Porterville, CA, ready for immediate development.; Proposed 48-unit multifamily apartment complex with 16 two-bedroom and 32 one-bedroom units in five two-story buildings.; All utilities (curb, gutter, street lighting, and underground) are already in place.
    (559) 705-1000
    Request Owner's contact information
    300 Sequoia Cir Porterville, CA 93257
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    Porterville, CA 93257
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    300 Sequoia Cir Porterville, CA 93257
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