1625 NELSON Avenue, Oroville, CA 95965

Property Description

Rare opportunity to acquire approximately 40 acres of Medium Density Residential land in Oroville's Thermalito area, near Nelson Avenue, Highway 70 and the Thermalito Forebay. The zoning is already in place, giving builders, developers and land investors a major head start for future residential development. This property was part of a larger historical subdivision plan that showed approximately 270 proposed home sites across the full 80-acre project area. Based on the prior layout, this individual offering has potential for approximately 115+/-plus home sites. The historical map appears to show many planned lots in the approximate 5,000 to 6,500 square foot range, with select larger lots shown in portions of the plan. This site checks the boxes developers care about: Medium Density Residential zoning, scale, prior subdivision planning, prior engineering, strong street layout concepts, nearby utilities and a location close to schools, shopping, services, recreation and transportation. Historical plans show public water and sewer infrastructure at or near the property boundaries, including a proposed 8-inch looped water-main system and existing 8-inch and 12-inch sewer mains serving the overall project area. The location is a major part of the value. The property is close to the Thermalito Forebay and outdoor recreation, while still being minutes from Oroville conveniences, Highway 70, schools, county services and employment centers. Large residential development parcels with zoning already in place, this much prior planning history and utilities shown nearby are extremely hard to replace. Purchase this approximately 40-acre offering individually, or acquire the adjoining approximately 40-acre property separately and control the full historical 270-home-site project area. At this price point, the cost basis per potential home site is extremely compelling for a builder, developer or land investor looking ahead to Northern California's continued housing demand. Buyer to verify zoning, lot yield, utility availability, fees, reports, approvals and current development requirements.