****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 48 units. The parcel is strategically 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. 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. ****
Showing Instructions Go Direct. Public Access. Appt Only To See Buildings.
Agent Remarks Email offers to jeffnyal2gmail.com with copy of proof of funds to close. Offering Memorandum is attached to listing under the supplements. Or can email listing agent for a copy
† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.