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    22630 Cameo Dr Grass Valley, CA 95949

    For Sale
    $1,100,000

    48 Units, Prime Location, Grant Funded

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 5-acre parcel in Grass Valley, CA (22630 Cameo Dr, 95949) presents a unique opportunity to develop high-impact affordable housing. Zoned R3-RH-SC-SP (High Density Residential – Regional Housing Need – Scenic Corridor – Site Performance), this property is ideally situated near State Highway 49 and Combie Road, providing convenient access to Grass Valley and Auburn. The site boasts pre-existing approvals and engineering studies, including geotechnical, biological, traffic, drainage, and hazardous waste reports, significantly reducing time and costs to market. Over $10 million in infill and infrastructure grants are already secured, along with eligibility for California Low-Income Housing Tax Credits (LIHTC). Preliminary architectural and civil plans are also available. The proposed development includes 48 rent-restricted units: 12 one-bedroom, 24 two-bedroom, and 12 three-bedroom units, all restricted at 30%, 50%, or 60% of Area Median Income (AMI). Amenities will include a community room and playground. The property's location within a growing community with a stable income level and strong demand for affordable housing makes this a financially viable and impactful investment opportunity. Nevada County Planning Department and Fire Marshal's Office feedback is available to expedite the entitlement process. This is a turnkey opportunity to deliver much-needed affordable housing in a thriving area. Asking price: $1,100,000.

    Property Features for 22630 Cameo Dr

    General Information

    Property type
    Multifamily properties
    Lot Size
    217,800 SF

    Building Details

    Units
    48

    HighLights

    • Excellent Highway 49 access & proximity to urban centers.
    • Strong demographics with stable incomes in a growing community.
    • Fully entitled project; comprehensive submission package available.
    • High demand for affordable housing in a rapidly developing area.
    • $10M in grants & eligibility for state tax credits, including LIHTC.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Grass Valley
    County
    Nevada
    State
    California
    Longitude
    -121.09327
    Latitude
    39.044597

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    FAQs

    What type of property is this?
    Multifamily property - 48 Units, Prime Location, Grant Funded
    Where is this multifamily property located?
    The property is located at 22630 Cameo Dr Grass Valley, CA.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: Excellent Highway 49 access & proximity to urban centers.; Strong demographics with stable incomes in a growing community.; Fully entitled project; comprehensive submission package available.
    (530) 272-7222
    Request Owner's contact information
    22630 Cameo Dr Grass Valley, CA 95949
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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
    22630 Cameo Dr Grass Valley, CA 95949
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