$3,430,000

Institutional Quality Multifamily Land within Delta Shores - northwest corner of Cosumnes River Blvd and 24th Street. Opportunity to acquire the HDR-10 Land Site, a 5.0 acre multifamily residential development site for up to 135 units in Delta Shores North, 800 acre master planned community in Sacramento, CA. Strategically located between Delta Shores and Stone Beetland communities, the HDR-10 Land Site is immediately adjacent to the Delta Shores regional retail shopping center and ten new single-family communities of 1,400 homes recently completed and under construction. Zoning allows potential development of 15-27 units per acre, ideal for three or four story garden style design, market-rate apartments or affordable housing (site is located in DDA). HDR-10 is the first multifamily site available in Delta Shores North phase of the master plan. Backbone infrastructure improvements underway and to be completed prior to closing. Delta Shores shopping center is one of Sacramento's strongest performing retail destinations. The Delta Shores community integrates residential neighborhoods, regional retail, employment access, and lifestyle amenitiescreating one of the most complete live work play environments in the Sacramento metropolitan area. Located right off Interstate-5, residents have an easy commute to the Downtown Sacramento CBD to reach the region's largest employers including the State of California, Kaiser Permanente, Sutter Health, UC Davis Medical Center, CalPERS and CalSTRS. Just 10-minutes south is Apple's local headquarters with over 5,000 employees. Anchored by national and regional tenants including Walmart, Dick's Sporting Goods, Old Navy, and Ross Dress for Less. Living Spaces and RC Willey operate only a limited number of locations across Greater Sacramento, signaling strong retailer conviction in the trade area Delta Shores attracts shoppers from affluent Pocket, South Land Park, and portions of Elk Grove. Within 2 miles of HDR-10 Site are four different grocery store options including Nugget Market and Bel Aire. Delta Shores offers a cleaner, newer, more attractive shopping experience than much of South Sacramento. For multifamily residents, this translates into rare walk and drive convenience, significantly enhancing renter appeal and leasing velocity.