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$ 1,550,000
Est. payment /mo
Active
211 E Olive AVE Redlands, CA 92373
22,277 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 22,277 sqft
Price per Sqft $69
MLS Listing ID 26661985
HOA Y/N No
Lot Size 0.388 Acres
Property Description
211 Olive Residences Ready-To-Issue Multifamily Development Site | 15 Units | Downtown Redlands, CA 92373. Offered at $1,550,000. This is a fully entitled development opportunity in the heart of Downtown Redlands. The entitlement work is complete. The project consists of 15 market-rate residential units across two structures totaling 22,277 square feet. Eleven apartments occupy a three-story main building. Four ADUs occupy a separate detached structure. The unit mix is (3) one-bedroom one-bath, (7) two-bedroom one-bath, and (1) three-bedroom two-bath in the main building. The four ADUs consist of (2) two-bedroom two-bath units up to 1,150 square feet located on the north portion of the parking garage and (2) two-bedroom two-bath units up to 950 square feet in the detached stacked structure. Plans were designed by Gary Miller, AIA of Miller Architectural Corporation. All design disciplines are fully coordinated and approved. Architectural, structural, civil, mechanical, electrical, plumbing, fire, life safety, and landscape. The site is 0.39 acres and carries an AB 2097 parking exemption due to its proximity to the Redlands Arrow Metrolink station. On-site parking is provided. Downtown Redlands is a proven submarket. The University of Redlands drives consistent rental demand. Orange Street Alley and State Street anchor a walkable retail and dining corridor. The Arrow Line connects residents to the broader Metrolink network. Fully entitled multifamily sites in Downtown Redlands rarely come to market. This submarket offers immediate access to a thriving retail and dining corridor, the University of Redlands, the Arrow Metrolink Line, and an established base of national and local tenants that continue to drive foot traffic and rental demand throughout the area.
Location
State CA
County San Bernardino
Area 268 - Redlands
Interior
Fireplace No
Building
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 0171281300000
Special Listing Condition Standard
Listed by Oscar Diaz Marcus & Millichap #02022902
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