1205 University St Redlands, CA 92374

This exceptional investment opportunity presents The Residence at Casa Loma, a 147-unit apartment building situated on a 5.7-acre lot in Redlands, California. The property boasts an approved R-3 zoning designation and is ready for immediate development. Architectural plans feature a striking Moresque-Spanish design, incorporating elements such as towers, tile roofs, covered balconies, arches, shutters, and corbels, reminiscent of the historic Casa Loma Hotel. The unit mix includes studios, one-bedroom, and two-bedroom apartments ranging in size from 603 to 1,086 square feet. The complex is ideally located adjacent to the University of Redlands, providing convenient access for students and faculty. Its proximity to the ESRI corporate headquarters and the newly constructed Redlands-University Metrolink station (2022) further enhances its appeal. The Metrolink station offers easy commuting options to San Bernardino and Los Angeles. Convenient freeway access via the 10 and 210 freeways is also a key advantage. Planned amenities include a resort-style pool and spa, covered cabanas, a yoga and fitness center, a clubhouse, mail lounge, garden, and dog park. The asking price for this exceptional multifamily property is $14,700,000, representing a price per unit of $100,000. The property's APN is 1212-371-01, 05 to 20. This is a truly remarkable opportunity to acquire a high-demand, well-located multifamily asset in a thriving Southern California market.