OUTSTANDING SMALL SCALE DEVELOPMENT OPPORTUNITY IN PASO ROBLES! Not only is this well located 6,500 SqFt lot optimally zoned T4-F, but it is also in the federally designated IRS Opportunity Zone, providing some incredible tax saving opportunities to keen developers. The desirable T4-F zoning provides ultimate flexibility in allowing multi-family residential, commercial, or a blend of both in a mixed use arrangement. Based on the zoning density, this site should be able to accommodate 4-5 residential units (plus the possibility of even higher density within ADU allowances), or commercial on ground level with residential units above, sharing parking as is allowed with mixed-use development. So many options here! Be aware, the old 1940's era structure is unsafe and have been red-tagged by the city prohibiting occupancy (unreinforced masonry construction). It must be removed or seismically retrofitted, so no value given to any existing improvements and we're selling it for land value only. Also please note there is NO water or sewer meter that conveys with this parcel. It's kinda cool that this property has been under the same family ownership for approx. 80 years and has never before been offered for sale, but there is a time for everything and the family Trustees are going to now allow a new generation to turn this caterpillar into a butterfly! Trustee's will review all offers on May 10th, 2023, allowing reasonable time for your creative mind to consider the possibilities here.
