In August 2016 approximately 29 acres of land was acquired in the City of Huntington Beach, California.
The site is located north of Pacific Coast Highway on Magnolia Street with close oceanfront proximity
and convenient access to Huntington State Beach and the numerous coastal amenities.
The business plan is to process entitlements for approximately 250 single-family detached and attached
units and a 4-acre commercial site designed for a 215-key boutique lodge and approximately 19,000
square feet of neighborhood / visitor serving retail.
Since acquisition, the propertyâ€™s existing oil storage tanks were removed, and the entitlement process is
well underway. The site is currently being utilized as a â€ślay down yardâ€ť for the construction of a new
power plant to the north of the site.
To date, a Specific Plan – Zoning document has been submitted to the City, technical studies have been
prepared, and an Environmental Impact Report is in process.
This property is one of the number of properties that are managed by Shopoff Realty Investments, and owned by closed investment funds. For the remainder of the properties "click here"
This is neither an offer to sell nor a solicitation of an offer to buy any security. An investment in a Shopoff limited partnership involves a high degree of risk, including the possible loss of your investment, and is illiquid with an uncertain liquidity date. Past performance is not indicative of future results. Securities offered through Shopoff Securities, Inc., member FINRA/SIPC.