1451 Park Rd Terrain 0,23 ha À vendre 1 059 720 € Benicia, CA 94510

1451 Park Apartments is a fully entitled infill development project for 17 residential units with 19 on-site parking on a 0.56 acre parcel in Benicia located at the northwest corner of Jefferson Street and Park Road (1451 Park Road) in the Arsenal Historic District. The unit mix is (7) 1-bed flats, (1) 3-bed flat, (9) 2-bed townhomes. Total building is 13,743 gross square feet. Two of units will be affordable to income-qualified households at a below market rate. Developer can take advantage of State Welfare Exemption program to reduce or abate 100 % of ad valorem property taxes, which significantly increases pro forma NOI of the completed project. The project received Streamlined Ministerial Permit Approval under SB 35. Developer enjoys no entitlement risk with fully approved project plans and expedited timeline to break ground. The property is proximate to the many amenities Benicia offers. Recreation: Benicia Marina / Turnbull Park, City Park, Benicia Community Park. Culture: Jefferson Street Mansion, Benicia Arsenal Artist Studios, Benicia Capitol Historic Park. Historic Union Hotel. Restaurants: Lucca Bar & Grill, Sailor Jack's, Bottom of the Fifth, Bella Siena. Schools: Liberty High School, Montessori Preschool, Robert Semple Elementary School. Please visit the City of Benicia website for all project plans and documents: https://www.ci.benicia.ca.us/1451park.