22630 Cameo Dr Grass Valley, CA 95949

Property Details for 22630 Cameo Dr

Lot size

5.00 lot acres

Property type

Commercial real estate

Description

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.