Navajo Road
Apple Valley, CA 92308
0.70 acres | #PW23032127
Description
Great for Developers! The Inland Empire is becoming a top destination for developers. With construction activity reaching record levels, the region has experienced a strong population growth as renters seek more affordable options away from the urban areas. In the next few years, a significant amount of new developments are expected, providing plentiful opportunities for large-scale housing projects. Despite recent rent increases of 1.8% in the past 12 months, the Inland Empire's average rent growth over the past decade of 5.8% per year is still attractive to investors seeking long-term returns.
The region's thriving logistics industry has been one of the main drivers behind its growth. The Inland Empire is now one of the largest and fastest-growing logistics hubs in the US, thanks to its proximity to the southern California ports and relatively affordable land. As a result, investors have been flocking to the Inland Empire in search of stabilized investments. Although the region's cap rates are below the national average at 4.2%, price appreciation has outpaced the rest of the country, fueled by robust rent growth and tight vacancies in the market.
Buyer to check all requirements with city. 20 units per acre allowed (14U on the 0.7)
SETBACKS: Front=25ft, Rear=10ft, Side=10ft, 35ft Upwards
Hubzone Qualified
Southern California Edison - SCE
Southwest Gas Corporation -
Liberty Utilities -
Town of Apple Valley -
-Planning: x.7200
-Engineer: x7013
-Public Utilities: x7500
To qualify for LIHTC, developers must set aside a certain percentage of units for low-income households, with rent levels that are affordable based on the area's median income. LIHTC has been an important tool for creating affordable housing across the United States, including in California. The program provides tax credits to developers for a period of 10 years, which can then be sold to investors to raise capital for the project. The tax credits help offset the costs of development, and in return, developers agree to keep the units affordable for a minimum of 30 years.
(Buyer to confirm all pertinant facts)
Location
Legal
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated:Â . Source: CRMLS
Listing Courtesy
Listing Agent: Sam Goswami (#PGOSWSAD)
Listing Office: Alta Realty Group CA, Inc. (#PB19177)
Listing Courtesy (Buyer)
Buyer's Agent: General NONMEMBER (#nonmember)
