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890 S Magnolia Ave - Magnolia 1.58 Acres of Residential Land Offered at $4,200,000 in Ontario, CA 91762
INVESTMENT HIGHLIGHTS
- 49 unit apartment development opportunity. With the opportunity to redesign for up to 71 units.
EXECUTIVE SUMMARY
Contact Don Hinton at 818-421-9071 or email don.hinton@evrealestate.com with any questions or to obtain additional project information. Please see link below for Partial Plans
PROPERTY FACTS
| Price | $4,200,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| Sale Condition | 1031 Exchange | Proposed Use | Apartment Units |
| No. Lots | 1 | Total Lot Size | 1.58 AC |
| Zoning | HDR-45 | ||
| Price | $4,200,000 |
| Sale Type | Investment |
| Sale Condition | 1031 Exchange |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units |
| Total Lot Size | 1.58 AC |
| Zoning | HDR-45 |
1 LOT AVAILABLE
Lot
| Price | $4,200,000 | Lot Size | 1.58 AC |
| Price Per AC | $2,651,478.33 |
| Price | $4,200,000 |
| Price Per AC | $2,651,478.33 |
| Lot Size | 1.58 AC |
Two parcels totaling 69,000 SF of land and includes one SFR to be demolished when the site is developed. Currently designed as a 49 unit apartment development. Zoning is HDR 45 which could allow up to 45 units/acre or 71 units to be developed.
DESCRIPTION
Development opportunity to build a 49 unit 5 story apartment building with 108 parking spaces. The gross building area is 101,687 SF, the net rentable area is 50,280 SF and the lot size is 69,000 SF. Unit breakdown: 12-1 Bedroom units and 37-2 bedroom units. Excellent Ontario location adjacent to a 75 unit apartment building located at 840 S Magnolia that was built in 2019. Project could be redesigned for development of up to 71 units
PROPERTY TAXES
| Parcel Number | 1011-371-15 | Improvements Assessment | $0 |
| Land Assessment | $288,973 | Total Assessment | $288,973 |
PROPERTY TAXES
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890 S Magnolia Ave - Magnolia
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