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N 6th Ave - Multi-Family Development Opportunity
0.97 Acres of Commercial Land Offered at $2,400,000 in Upland, CA 91786
Investment Highlights
- Development Opportunity Near Downtown Upland
- By-Right: 53 Multi-Family Units / 54.71 DU/Acre
- 100% Vacant Building With Asphalt Parking
- Property Will Be Delivered In An “As Is” Condition
- Senior Affordable: 88 Multi-Family Units / 91.6 DU/Acre
Executive Summary
Property Facts
Price | $2,400,000 | Property Type | Land |
Sale Type | Investment | Property Subtype | Commercial |
Sale Conditions | Redevelopment Project | Proposed Use | |
No. Lots | 1 | Total Lot Size | 0.97 AC |
Price | $2,400,000 |
Sale Type | Investment |
Sale Conditions | Redevelopment Project |
No. Lots | 1 |
Property Type | Land |
Property Subtype | Commercial |
Proposed Use | |
Total Lot Size | 0.97 AC |
1 Lot Available
Lot
Price | $2,400,000 | Lot Size | 0.97 AC |
Price Per AC | $2,474,227 |
Price | $2,400,000 |
Price Per AC | $2,474,227 |
Lot Size | 0.97 AC |
Four (4) parcels - 1046-562-01, 02, 03, 04
Description
By-Right Development: The subject property allows for the by-right development of a 53 unit Multi-Family Residential Community consisting of 1 on-grade, wood-frame, four story building with recreational amenities including a workout room. The community would consist of (35) one bedroom & (18) two bedroom units. The project is within walking distance to the Upland Metrolink station and Downtown Upland, which hosts numerous seasonal street fairs and open aire markets, and provides a multitude of restaurants and retail shopping along pedestrian friendly walkways. Senior Affordable Development: If a developer utilizes the density bonuses allowed for affordable housing communities, the subject property allows for the development of an 88 unit Affordable Housing Community consisting of 1 wood-frame, three story building with recreational amenities including a community room, lobby, mailroom, and bicycle storage. The community would consist of (70) one bedroom & (18) two bedroom units. The project is designed around access to the nearby rail station rather than automobile use, and as such the project doesn’t include resident parking. Within the clubhouse and the courtyard communal spaces residents will enjoy a variety of programs and social services.
PROPERTY TAXES
Parcel Number | 1046-562-02 | Improvements Assessment | $0 |
Land Assessment | $200,793 | Total Assessment | $200,793 |
PROPERTY TAXES
zoning
Zoning Code | Citrus Transportation |
Citrus Transportation |
Presented by
N 6th Ave - Multi-Family Development Opportunity
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