229 South Main Street, Placentia, CA – SOLD

Kosmont Realty (“KR”) is presenting the sale of an approximate 5,850 square foot vacant, unimproved property located at 229 S. Main Street in Placentia, California (“Property”). The Property is zoned R-2 (Low-Medium Density Multiple Family District) and offers a unique residential development opportunity in the City that is a 5-minute walk to a future Metrolink Station platform in Old Town Placentia,1.5 miles from Cal State Fullerton, and minutes to CA-57 and CA-91 Freeways. The Property is also in close proximity to restaurants, shops, and parks and conveniently located less than a mile from Smart & Final, Northgate Gonzalez Market, Sam’s Club, and other recreational amenities.

The City of Placentia is a fast-growing community with 45,000 residents, beautiful suburban homes, good schools, stately churches, and wholesome recreation. The City is located in North Orange County and its mission is to keep Placentia a pleasant place by providing a safe family atmosphere, superior public service and policies that promote the highest standards of community life. The City has recently approved a comprehensive plan for the revitalization, activation, and economic growth of Old Town Placentia, which includes creating a lively regional destination, connection to transit, high-quality mix of commercial uses, and facilitating enhanced residential development. These efforts are intended to create a new destination by reviving and improving Old Town Placentia’s unique identity and character to residents, visitors, and the business community.

$/Sq.Ft: $46
Neighborhood/Subdivision: N/A
Preferred Development: Residential

APN: 339-364-18

All questions and inquiries regarding the Property should be directed to the KR representatives identified herein.

The prospective buyer(s) will be selected by Seller in its sole and absolute discretion based on a variety of factors including but not limited to:

• Purchase Price
• Timing of due diligence and closing period
• Experience, qualifications, and proposed use for the property
• Financial Capacity
• Compliance with the Placentia City Zoning Code

Buyer(s) must submit offers no later than 5:00 p.m. PST on Monday, June 11, 2018. Prior to submitting an offer, buyer(s) are encouraged to verify the intended use of the property with the City to the satisfaction of buyer(s). Buyer(s) must submit an offer in writing via mail or electronically (preferred) to:

Kosmont Realty (License # 02058445)*
Attn: Mr. Brian Moncrief, Senior Managing Director
1601 N. Sepulveda Blvd., # 382
Manhattan Beach, CA 90266

* Kosmont Real Estate Services, dba “Kosmont Realty"

DISCLAIMER: Seller in its sole and absolute discretion may consider and select any offer received up until the deadline established herein (Monday, June 11, 2018 @ 5:00PM PST). It should be noted that Seller and KR reserve the right to alter the aforementioned terms and deadlines as contained herein in their sole and absolute discretion. The Property will be sold “As-Is, Where is” with no express representations or warranties, and any development entitlements will require City/Public Agency approval. The value of this transaction depends on multiple factors, which should be evaluated by your tax, financial and legal advisors. No express or implied representations have been made regarding subsurface compaction and/or the existence or non-existence of toxic waste, hazardous materials and/or undesirable substances in or on the Property. Seller has received all approvals necessary from the State Department of Finance (DOF) and is authorized to market the Property for sale pursuant to requirements contained in the California legislation known as ABx1 26, AB 1484, and SB 107. Final sale of the subject Property will require approval of the Housing Successor Agency Board to the Placentia Housing  Successor Agency.