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20221071
20221072

142 N 6th Ave, Upland, CA 91786

MS
CA 00848427
Lee & Associates Los Angeles - Investment Services Group, Inc
Listed by Lee & Associates Los Angeles - Investment Services Group, Inc
$2,400,000
1260 days on market
Updated 42 days ago

Multi-Family Development Opportunity

Details
APN 1046-562-01, 02, 03, 04
Property Type Land
Sub Type Commercial, Industrial (+1)
Acreage 0.970
Zoning SP3
Sale Condition For sale by owner

Land | 0.97 acres

Marketing description

The project is within walking distance to the Upland Metrolink station and Downtown Upland, which hosts numerous seasonal street fairs and open air markets, and provides a multitude of restaurants and retail shopping along pedestrian friendly walkways.

By-Right Development: The subject property allows for the by-right development of a 53 unit Multi-Family Residential Community consisting of 1 on-grade, wood-frame, four story building with recreational amenities including a workout room. The community would consist of (35) one bedroom & (18) two bedroom units. The project is within walking distance to the Upland Metrolink station and Downtown Upland, which hosts numerous seasonal street fairs and open aire markets, and provides a multitude of restaurants and retail shopping along pedestrian friendly walkways.

Senior Affordable Development: If a developer utilizes the density bonuses allowed for affordable housing communities, the subject property allows for the development of an 88 unit Affordable Housing Community consisting of 1 wood-frame, three story building with recreational amenities including a community room, lobby, mailroom, and bicycle storage. The community would consist of (70) one bedroom & (18) two bedroom units. The project is designed around access to the nearby rail station rather than automobile use, and as such the project doesn’t include resident parking. Within the clubhouse and the courtyard communal spaces residents will enjoy a variety of programs and social services.

Please contact Brokers directly for full offering memorandum.

Investment highlights

Development Opportunity Near Downtown Upland

Property Will Be Delivered In An “As-Is” Condition

By-Right: 53 Multi-Family Units / 54.71 DU/Acre

Senior Affordable: 88 Multi-Family Units / 91.6 DU/Acre

Listing Contacts

MS
CA 00848427
Lee & Associates Los Angeles - Investment Services Group, Inc
Listed by Lee & Associates Los Angeles - Investment Services Group, Inc

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