$6,000,000

1717 Via Del Rio Avenue

Corona CA, 92882

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 additions 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 **** Access Type: Public Access # of RV Spaces: 0 Zoning Description: Residential 3 Lot Location Type: Standard Location Development Status: Other Easements: See Map of Record Miscellaneous: Curb,Gutter,Existing Structure Utility Adjc to Site: Gas,Electric,Water,Telephone,Sewer,Cable # of Attached Spaces: 0 # of Detached Spaces: 0 # of RV Spaces: 0

Details

MLS#485106
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Days On Site751

Features

Acreage2.82
Water FrontNo
Property ViewYes

Market Activity 92882

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Area Information
StateCA
CountyRiverside
CityCorona
Zip Code92882
Listing VS Median (in 92882)
Price:
$6,000,000
low | high
Med:
$525,000
100% of Average
On Site:
751
low | high
Med:
77
100% of Average
Listing Updated: January 21, 2021 8:40:25 AM PST
Listing Provided By: Jeffrey Nyal of Coldwell Banker Home Source
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