$125,000
$228,490
45.3%For more information regarding the value of a property, please contact us for a free consultation.
10,084 Sqft Lot
SOLD DATE : 05/30/2024
Key Details
Sold Price $125,000
Property Type Vacant Land
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV22241847
Sold Date 05/30/24
HOA Y/N No
Lot Size 10,084 Sqft
Property Description
This Value Added Parcel is Back on the Market! Part of the Three Best Residential Parcels in Rancho Cucamonga! This fully-entitled, three lot subdivision boasts three nearly level, large lots (see also MLS listings for 0208-09-185 and 0208-09-187-0000; each lot exceeds 10,000 sq. ft. and they average over one quarter acre each). The location is superb for family living, for high-quality rental properties, and for optimizing unit count using ADU's. The parcels are adjacent to the Pacific Electric Trail, on Vineyard Ave. north of Foothill Blvd, and a very short walk from Red Hill Park. The City of Rancho Cucamonga has been advised to expect ADU's on each lot, per all discussions to date. Each lot has house plans, and the unit distribution potential is for a Main Home (~ 2,400 sf), a Jr. ADU (~ 500 sf), and a detached ADU (~ 1,200 sf) on EACH LOT. This project is ideal for "Build to Rent" investment purposes (see projected rents in notes below). Many development steps are complete - Approved Parcel Map (subdivision done), Survey, Rough Grading, Soils Report, House Plans, Street Improvement Plans, Performance Bond, and more. The City of Rancho Cucamonga has expressed general verbal agreement to the development plan as broadly outlined. Sellers relocating next year. All the above documentation and reports available to the best Buyer/Builder as needed. This particular nearly flat, approximately rectangular 10,084 sq. ft. vacant lot is the middle parcel of the three. The lot is easily accessed by a shared driveway (at least 20 feet wide). If the above noted unit mix were built (Main, ADU, and JADU), the current comparable rents on each unit would be $3,700, $2,700, and $1,600 respectively. This rent configuration would yield $8,000 per month and $96,000 per year ON EACH LOT in gross rents. Serious inquiries only. DISCLOSURE: Listing Agent related to sellers.
Location
State CA
County San Bernardino
Area 688 - Rancho Cucamonga
Zoning Residential
Interior
Fireplace No
Exterior
Fence Block, Chain Link, Partial
Community Features Biking, Curbs, Foothills, Golf, Gutter(s), Hiking, Horse Trails, Storm Drain(s), Street Lights, Suburban, Sidewalks, Valley, Park
Utilities Available Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Water Available
View Y/N Yes
View City Lights, Mountain(s), Valley
Building
Lot Description 2-5 Units/Acre, Flag Lot, Gentle Sloping, No Landscaping, Near Park, Near Public Transit, Rectangular Lot, Value In Land
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 0208091860000
Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan, 1031 Exchange
Horse Feature Riding Trail
Listing Terms Cash, Cash to Existing Loan, Cash to New Loan, 1031 Exchange
Financing Cash
Special Listing Condition Standard
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Bought with PATRICIA LEMIEUX • PATRICIA LEMIEUX