9529 Locust AveFontana, CA 92335

Property Details for 9529 Locust Ave

Lot size

2.08 AC

Property type

Residential income properties

Property subtype

Other land

Description

This exceptional 2.08-acre lot in Fontana, California, presents a remarkable opportunity for residential multifamily development. Located at 9529 Locust Ave, Fontana, CA 92335 (APN: 024916120000), this property is zoned RM – Residential Multifamily, allowing for the construction of up to 40 units. Architectural plans envision a state-of-the-art multi-unit apartment complex, capitalizing on the current surge in new housing developments in the area and high demand for rental units. The property's strategic location offers easy access to major transportation routes, including the 210, 66, and 10 Freeways, enhancing its appeal and investment potential. The projected resale value of the completed 40-unit complex could significantly exceed $13,000,000. Furthermore, the first 15 years of operation would be exempt from current rent control laws, maximizing returns. This presents a compelling investment opportunity for developers and investors seeking strong cash flow and significant long-term appreciation. Prospective buyers are encouraged to consult with the San Bernardino County planning department to explore all development possibilities before submitting an offer. The asking price for this exceptional property is $700,000.

Location Insight

City

Fontana

County

San Bernardino

State

California

Latitude

34.0808

Longitude

-117.409

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