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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 to be sold as-is. Vacant. Seller has prepared preliminary architectural plans, however the site not being delivered entitled. OM has detailed plans for "By-Right Development" & "Senior Affordable Development". The project is within walking distance to the Upland Metrolink station and Downtown Upland, which hosts numerous seasonal street fairs and open air markets, and provides a multitude of restaurants and retail shopping along pedestrian friendly walkways.

Property Facts

Price $2,400,000
Sale Type Investment
Sale Conditions Redevelopment Project
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use
Retail
  • Office
  • Multifamily
Total Lot Size 0.97 AC

1 Lot Available

Lot

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.

Walk Score ®
Very Walkable (78)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
1046-562-02
Land Assessment
$200,793
Improvements Assessment
$0
Total Assessment
$200,793

zoning

Zoning Code Citrus Transportation
Citrus Transportation
  • Listing ID: 27369432

  • Date on Market: 12/22/2022

  • Last Updated:

  • Address: N 6th Ave, Upland, CA 91786

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