Homes for sale - 0 Navajo RD, Apple Valley, CA 92308

Key Details

Sold Price $85,000

Property Type Vacant Land

Listing Status Sold

Purchase Type For Sale

MLS Listing ID PW23032127

Sold Date

HOA Y/N No

Annual Tax Amount $651

Lot Size 0.702 Acres

Property 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

State CA

County San Bernardino

Area Appv - Apple Valley

Zoning MultiFamily 20U:1acre

Interior

Fireplace No

Exterior

Fence Excellent Condition,None,See Remarks

Community Features Street Lights,Sidewalks

Utilities Available Cable Available,Electricity Available,Natural Gas Available,Phone Available,Sewer Available,See Remarks,Water Available

View Y/N Yes

View Desert

Building

Lot Description 16-20 Units/Acre,Level,Near Public Transit,Rectangular Lot,Street Level

Water Public

New Construction No

Others

Senior Community No

Tax ID 3087531040000

Acceptable Financing Cash,Cash to New Loan,Private Financing Available,Submit

Listing Terms Cash,Cash to New Loan,Private Financing Available,Submit

Financing Cash

Special Listing Condition Standard

Lease Land No