0 Olive Street, Ontario, CA 91764

$1,350,000 Approx. USD 0 beds, 0 baths
79,880 sqft

Agent Remarks

A prime 1.833 acre lot, which has been subdivided into 10 individual parcels in the City of Ontario. The property is conveniently located in North Ontario, bordering the City of Upland and Rancho Cucamonga. The subject property is uniquely located behind an highly sought after Christian school, surrounded by single family homes, which brings an opportunity to immediately develop brand new homes in this area with very little competition in the marketplace. These 10 individual parcels are zoned LDR-5, which is low density for single family dwelling. Each parcel is approximately 7,988 square feet with an allotted building ratio of 1:2 upon approval from the City Planning Department. More importantly, the plans for this project were previously approved by the City of Ontario, however, expired. Nonetheless, this allows investors to save costs and obtain approval quicker by resubmitting the existing plans to the city with plan checks. The Olive Street development provides a rare opportunity for astute investors to build brand new homes in a market where there is a tremendous shortage in brand new single family home supply, to accommodate new home buyers who want to live in a vibrant and economically diverse city of Ontario.

Listing Details

Property type: Land (Lots/Land)
Status: Active Under Contract
MLS# CV16197185
List price is $1,350,000
Beds: 0
Baths: 0
79,880 sqft
1.83 acres
Lot size: 79880.000
County: San Bernardino
Zoning: LDR-5
MLS area: 686 - Ontario

Last Updated: 11/10/2016

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This listing belongs to the 686 - Ontario MLS area

The listing is zoned LDR-5.
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Lat/Long: 34.090248, -117.620117.
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Broker: Courtesy of CB RICHARD ELLIS
Listing Agent: ERIC CHEN

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Total population of , which has changed by % since 1990.
The median age of the population is , while the median age of dwellings is .
Out of households, are families.

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