Listing Detail

Ontario, CA 91762 890 S Magnolia Avenue

890 S Magnolia Avenue Ontario, CA - Image 1
Presented By: Donald Hinton - BRE#00575959 with Engel & Voelkers La Canada ;
  • MLS# P113420
  • 04/30/2023
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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 to build up to 71 units on the site.The property is currently improved with a single family residence that is rented to a tenant. However, the property is being marketed as land for development of a 49 unit apartment building which will require demolition of the existing residence. The property will be delivered vacant at the Close of Escrow. Buyer will be responsible for demolition of the existing SFR after closing and the cost of further plan processing and the building permits. Site also includes APN# 1011-371-15-0000. Total site area is 69,000 SF.Buyer to cooperate with Seller's exchange at no expense to Buyer. Please submit Letters of Interest for consideration and to initiate negotiations.Do not disturb the tenant. Drive by only until a purchase contract has been negotiated.
Presented By: Donald Hinton - BRE#00575959 with Engel & Voelkers La Canada ;

Interior Features for 890 S Magnolia Avenue

Other Interior Features

Street SuffixAvenue

General for 890 S Magnolia Avenue

AssessmentsNone
Assessments Y/NNo
CityOntario
Community FeaturesUrban
CountySan Bernardino
DirectionsSouth on S. Magnolia Ave. from W Mission Blvd.
HOA Fee$0.00
Land Lease Y/NNo
Listing AgentDonald Hinton - BRE#00575959
Lot Size Square Feet69000.00
Lot Size UnitsSquare Feet
MLS Area686 - Ontario
Price Per Square Foot60.87
Property TypeLand
Senior Community Y/NNo
Standard StatusActive
Subdivision NameOther
Subdivision NameLand for Apartment Development
UtilitiesElectricity Connected, Water Connected, Sewer Connected, Phone Connected, Natural Gas Available
ViewMountain(s)
ZoningHDR-45

Exterior for 890 S Magnolia Avenue

Fence Y/NYes
Lot FeaturesLevel
Lot Size Acres1.5840
Lot Size Area69000.0000
Lot Size SourcePublic Records
Water SourceSee Remarks

Additional Details

Price History

Roger Jarnigan

Realtor®
Price $4,200,000
MLS#P113420
List Date 04/30/2023
Property Type Land
Phone 818.521.4535
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