18.56+/- acres - land bank opportunity consists of three (3) contiguous parcels with four (4) improved structures that consist of two (2) residential homes and two (2) commercial buildings that total a combine square footage 19,954 sq.ft., and located on 18.56+/- acres of flat, developable land with 634 feet of frontage on the Edison Ave that is planned to be widen into an eight (8) lane road. The subject property provides a monthly rental income with upside, giving the land owner to increase the rental income during the land bank holding period that is estimated at 10 years. The subject property is located on Edison Avenue, near to the northwest corner of Grove Avenue & Edison Avenue and situated within the Area 4 - South of Riverside Drive of the Ontario Plan known as "The Ontario Ranch" formerly known as "The New Model Colony", as of 2016 the area comprises of several new neighborhoods known as Parkside, The Avenue, Grand Pak, Subarea 29, Colony Commerce Center, Countryside, Armstrong Ranch, West Haven, Rich Haven, Edenglen and Esperanza. The current Land Use zoning is Residential Medium Density (11.1 - 25 du / ac) & Residential Low Density (2.1 - 5 du / ac) ; land use designation allows single-family detached and multi-family attached residences; Zoning Overlay of Agricultural (AG).
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Data Provided by:
California Regional Multiple Listing Service