60 Apartment/Condo Units -Approved ProjectCorona Ave, Corona, CA 92877

Lon Mapes, MBALDM Commercial1684 Plum Ln,Redlands, CA 92374lmapes@ldmcommercial.com(909) 307-1000

Price: $2,750,000

Property Type: Land

Property Sub-type: Residential

Proposed Use: Apartment Units - Condo

Sale Type: Investment

Total Lot Size: 3.42 AC

No. Lots: 1

Zoning Description: Zoned for Condos

APN / Parcel ID: 122-230-012

60 Apartment/Condo Units -Approved Project$2,750,000

Attached is a recently completed Opinion of Estimateby MUROW to arrive at a finished unit cost of under$104,000 per unit (including all on/off site improvementsand City fees, along with costs to complete finalengineering, etc), add the land pricing of approximatly$46,000 per unit gives a total under $150,000 per unit -ready to build. Sales Comps in the very high $300,000range.60 Apartment/Condo Approved Tuscany VillasProject in the City of Corona - TT Map 35851 - active tillFeb. 16, 2020. Project is approved for 60 LuxuryApartment or Condo units allocated as follows:(10) - 2bedroom 2 bath of 1,160 SF(50) - 3 bedroom 2 bath of1,472 SF. PRICE REDUCTION - $2,750,000 from$3,250,000 - Priced to Sell.All entitlements areapproved along with conceptual building plans. Seecost estimate from MUROW to arrive at a finished unitcost, taken as is now to including the final engineeringcost to get to a final map - shovel ready project. As ofnow no final engineering has been completed onlypreliminary work. Total of three parcels 122-230-012 =2.86 Acres, 122-140-016 = .52 Acres and 122-140-012= .04 Acres for a total of 3.42 Acres. Located alongInterstate 15 Freeway and the 91 Freeway Interchange.Metrolink station is close by.

Corona Ave, Corona, CA 92877

Property Photos

Corona 60 Units Pic along I-15 - 4

Corona 60 Units Pic along I-15 - 3

Property Photos

Building Photo

Building Photo