USACAOntarioOther890 S Magnolia Ave
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$2,650,000

For Sale

A day ago

890 S Magnolia Ave, Ontario, CA

House

MLS® P1-28323

0 Bed

0 Bath

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0

  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Land
Size -
Garage 
Taxes 
Days Active 1
Lot Size 1.584 Acres
Approx. Age 
MLS® Number P1-28323

Property Address: 890 S Magnolia Ave, Ontario, CA, 91762-4714

Average square foot calculated using Size range provided by listing agent.

Description

Excellent development opportunity. The HDR-45 zoning allows development of 45 units per acre. The property is approximately 69, 000 SF which would allow development of up to 71 apartments or condominiums. This is the last parcel(s) of high-density residential land on S. Magnolia and is adjacent to a 75-unit apartment building developed in 2019. Includes parcel #'s 1011-371-16-0000 and 1011-371-15-0000.The property has been entitled for 49 apartment units; however, a buyer may pursue new entitlements for 71 units. The property is currently improved with a 2-bedroom, 2 bath single family residence that was built in 1926. The property has been priced based upon land value and the single-family residence does not contribute value to the property. The single-family home is currently rented month to month for $2, 300/mo. The excess land is currently rented month to month for $275/mo. to a nursery, and the nursery tenant maintains the excess land. Please submit all offers using the CAR Residential Purchase Agreement. Buyer to cooperate with Seller's exchange. Drive by Only, Do Not Disturb the tenants. Asking price is $2, 650, 000 which is $37, 324/Unit based upon 71 units and $38.40/​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌‌​‌​​​​​‌ SF.
MLS® NumberP1-28323
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age
Basement
Driveway
Garage Spaces
Heat
A/C

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Aug 5, 2026List Date
$2,650,000List Price
-End Date
Not Sold YetSold Price

For Sale

Jul 15, 2024List Date
$4,200,000List Price
  • Commute

Commute

Starting Address
Destination Address
890 S Magnolia Ave, Ontario, CA

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