$1,920,000
Est. payment /mo
3.99 Acres Lot
New
0 Northpoint CIR Orcutt, CA 93455
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Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
Subdivision Orcutt West(880)
MLS Listing ID PI25134425
HOA Y/N Yes
Lot Size 3.990 Acres
Property Description
SUMMARY
This property offers a developer the chance to acquire a well-defined project with significant, pre-negotiated fee waivers and a resolved airport land use conflict. While it requires re-entitlement, the extensive project history and existing agreements provide a clear and de-risked roadmap for bringing 32 new homes to the attractive Orcutt market.
KEY FINANCIAL ADVANTAGES & REDUCED FEES
• No School Fees for OUSD: A recorded settlement agreement with the Orcutt Union School District means a future developer will not have to pay school impact fees to the OUSD. This represents a considerable savings, as the current OUSD residential development fee is $3.69 per square foot as of June 2024, a potential savings of $160,000.
• No Quimby/Park Fees: A settlement with Santa Barbara County states that Quimby/Park fees, currently $5,344 per single-family dwelling, will not be required as the map has already been recorded. This amounts to a potential savings of over $171,000.
• No Affordable Housing In-Lieu Fees: The same settlement agreement with the county determined that no affordable housing mitigation would be required for the project, representing another significant potential cost reduction.
• HOA Agreement in Place: A mediated settlement with the Northpoint Homeowner's Association (HOA) clarifies that this phase is not required to join the existing HOA but will contribute to shared road and drainage basin maintenance. This agreement provides a clear framework for managing shared infrastructure costs and mitigates potential disputes with the existing association.
DEVELOPMENT & ENTITLEMENT STATUS
• Expired but Clear Path Forward: While the previous Development Plan for the 32 units expired in 2018, the path to re-entitle the project is straightforward. The buyer will need to undergo a new Development Plan application consistent with the prior approvals.
• Favorable Airport Safety Zone Update: A 2023 revision to the Airport Land Use Compatibility Plan (ALUCP) has removed a "no build corridor" that previously conflicted with 15 of the lots, eliminating a significant past obstacle to development.
Streamlining Potential: The site may qualify for the permit streamlining provisions of SB 35, as it is in an urban area with 75% of its perimeter already developed.
This property offers a developer the chance to acquire a well-defined project with significant, pre-negotiated fee waivers and a resolved airport land use conflict. While it requires re-entitlement, the extensive project history and existing agreements provide a clear and de-risked roadmap for bringing 32 new homes to the attractive Orcutt market.
KEY FINANCIAL ADVANTAGES & REDUCED FEES
• No School Fees for OUSD: A recorded settlement agreement with the Orcutt Union School District means a future developer will not have to pay school impact fees to the OUSD. This represents a considerable savings, as the current OUSD residential development fee is $3.69 per square foot as of June 2024, a potential savings of $160,000.
• No Quimby/Park Fees: A settlement with Santa Barbara County states that Quimby/Park fees, currently $5,344 per single-family dwelling, will not be required as the map has already been recorded. This amounts to a potential savings of over $171,000.
• No Affordable Housing In-Lieu Fees: The same settlement agreement with the county determined that no affordable housing mitigation would be required for the project, representing another significant potential cost reduction.
• HOA Agreement in Place: A mediated settlement with the Northpoint Homeowner's Association (HOA) clarifies that this phase is not required to join the existing HOA but will contribute to shared road and drainage basin maintenance. This agreement provides a clear framework for managing shared infrastructure costs and mitigates potential disputes with the existing association.
DEVELOPMENT & ENTITLEMENT STATUS
• Expired but Clear Path Forward: While the previous Development Plan for the 32 units expired in 2018, the path to re-entitle the project is straightforward. The buyer will need to undergo a new Development Plan application consistent with the prior approvals.
• Favorable Airport Safety Zone Update: A 2023 revision to the Airport Land Use Compatibility Plan (ALUCP) has removed a "no build corridor" that previously conflicted with 15 of the lots, eliminating a significant past obstacle to development.
Streamlining Potential: The site may qualify for the permit streamlining provisions of SB 35, as it is in an urban area with 75% of its perimeter already developed.
Location
State CA
County Santa Barbara
Area Orct - Orcutt
Zoning DR-3.3
Interior
Fireplace No
Exterior
Community Features Suburban
Utilities Available Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Water Available
View Y/N Yes
View Hills
Building
Lot Description 6-10 Units/Acre
Water See Remarks
New Construction No
Others
Senior Community No
Tax ID 107560033
Acceptable Financing Cash to New Loan, 1031 Exchange
Listing Terms Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
Listed by Jason Hart • Hart Commercial Real Estate • Jason@HartCRE.com