4386 Parker Flt Seaside, CA 93955

Property Details for 4386 Parker Flt

Property type

Commercial real estate

Description

This exceptional commercial redevelopment opportunity presents a unique chance to transform a 4.9-acre parcel in Seaside, CA, into a thriving multi-family residential complex. The property consists of two existing buildings, totaling approximately 39,289 square feet, situated at 4386 Parker Flats Cut Off Road. Building A, at approximately 19,909 square feet, and Building B, at approximately 19,380 square feet, are former military nursing barracks. The proposed project envisions converting these structures into 42 residential units, catering to a diverse range of needs. The unit mix includes two one-bedroom/one-bathroom units, twenty-nine two-bedroom/one-bathroom units, and eleven three-bedroom/two-bathroom units. Building A will also incorporate a laundromat and administrative offices. A significant aspect of this development is the inclusion of eight deed-restricted affordable units, contributing to the community's housing needs. This breakdown includes two low-income, three moderate-income, and three workforce units. The property's prime location in Seaside, coupled with its substantial size and existing infrastructure, offers significant potential for a high-return investment. This is a rare chance to acquire a large-scale development project with built-in affordability components, poised for immediate transformation. The asking price for this remarkable opportunity is $2,999,999.