Property details

San Bernardino County Senior Apartment Site, Pacific West Region

Property Description

San Bernardino County Senior Apartment Site

Proposed 300 Unit Senior Apartment Complex 15 Acre Property

Zoned 20 Units Per Acre

Priced at $5.35 Sq. Ft.

Property Located in Excellent Location Across Highway from WalMart

Adjacent to Grocery Chain Anchored Shopping Center

Located Near Medical Facilities, Government Offices, Entertainment, Numerous Restaurants, a Regional Mall, Abundant Shopping, Storage Facilities, Golfing and Senior Activity Centers

Property Very Near Busy and Convenient I-15 Corridor in High Desert of Southern California

Between Southern California Inland Empire and Las Vegas

Developers Seeking To Begin Development Process As Soon As Possible

Partner Will Be Protected With Escrow Arrangement For Funds Deposited and Funds Used As

Needed Only As Permits and Entitlements Accrue With Approval For Building Progress

Projected Income Upon Completion:

300 Units (Various Sizes) Average Monthly: $240,000

Projected Annual Income: $2,880,000

Projected Miscellaneous Income $432,000

Total Projected Annual Income: $3,312,000

Total Estimated Operating Expenses $993,600

Total Estimated Taxes $140,000

Total Projected Net Annual Income: $2,178,400

The partnership owner has tremendous relationship with city council and county planning dept. and can help fast forward the permitting and development process.

Owner will assist with this and will consider a 50% / 50% JV as an alternative.

This is a prime property for development, and city and county want this project.








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Highlights

Status:
Sold
Price:
$3,500,000
 

Property Information

Property Type:
Land
Industry Type:
Senior Housing
Units/Spaces:
300
Purchase Tenure:
Fee Simple
 

Existing financing information

N/A

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.