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Listed by Jeffrey Nyal • Coldwell Banker Home Source
$ 6,000,000
Est. payment | /mo
2.82 Acres Lot
$ 6,000,000
Est. payment | /mo
2.82 Acres Lot
Key Details
Property Type Vacant Land
Sub Type Other Residential Land
Listing Status Pending
Purchase Type For Sale
MLS Listing ID CR485106
Lot Size 2.820 Acres
Property Sub-Type Other Residential Land
Source California Regional MLS
Property Description
****Land development opportunity located in the booming city of Corona, CA. Currently being conditionally used as a Church, the almost 3 acres is zoned R-3 Multi-Family allowing for up to 82 units. The parcel is located only a few blocks from the 91 FWY, and minutes from Interstate 15. Tentative Tract Map # 37314 underway with city planning department, proposing 48 Townhouses with the potential to generate lucrative cap rates. In addition plans have been proposed to build 82 apartment units, adding even more possibilities for the site. Adjacent to an elementary school, and an already existing apartment complex, it makes sense for this site to live up to its full potential. Several residential projects have been completed in the area. Investors started cash flowing with greater than expected interest from buyers/tenants. A development opportunity like this is definitely worth some consideration. Come VIEW and make an OFFER TODAY ****
Location
State CA
County Riverside
Zoning PAV
Exterior
Utilities Available Electricity - On Site, Telephone - Not On Site
View City Lights
Building
Lot Description Paved
Water District - Public
Others
Tax ID 103200088
Special Listing Condition Not Applicable
Virtual Tour https://youtu.be/m8ZGFmZliXw
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Drew Reid
REALTOR® | Lic# 01332884