11325 Magnolia Ave Riverside, CA 92505

Property Details for 11325 Magnolia Ave

Year built

1946

Lot size

0.94 lot acres

Property size

81,431 SF

Property type

Commercial real estate

Description

This exceptional Riverside investment opportunity presents a fully-entitled 51-unit apartment development project on a 0.94-acre lot (40,946 square feet). Currently featuring a single-family home and detached garage slated for demolition, the project is ready for immediate construction. The four-story building will encompass 81,431 square feet of gross building area, offering 46 one-bedroom and 5 two-bedroom units, all at market-rate rents. A significant advantage is the inclusion of 82 parking stalls, all conveniently located on the first floor. Comprehensive plans are complete, including architectural design, structural and civil engineering, geotechnical reports, MEP (Mechanical, Electrical, Plumbing), and Title 24 compliance. The property is zoned MU-U-TA (Mixed-Use, Multi-Family, Urban Transit-Oriented), maximizing its potential within the Riverside market. This turnkey project offers a streamlined path to development, eliminating significant pre-construction hurdles and allowing for a swift transition to construction and occupancy. The detailed plans ensure a smooth and efficient building process, minimizing potential delays and maximizing return on investment. This is a rare opportunity to acquire a fully-entitled multifamily development project in a desirable Riverside location.