17848 Foothill, Fontana CA 92335 | $5,500,000

This sales includes both adjoining parcels 17848 & 17858 Foothill Blvd Fontana Per the city website as of July 12, 2024: "Fontana is a modern city that offers its residents and visitors a wealth of community activities, a thriving local economy and central access to major business centers... In 2014, Fontana was named in the Top 20 Safest Cities in the Nation by Business Insider and in 2017, Fontana was named the second strongest City financially by the Fiscal Times. In 2018, Fontana was named the Most Prosperous City in California and the Fourth Most Prosperous in the United States by RENTCafe." Buyers are advised to do their own investigation not only on city Website. Both parcels are R5 zoning. According to seller recollection from an old survey which he no longer has in his possession, the total combined square footage of the 2 parcels is 217,000 square feet which makes it 4.98 acres. Seller and his agent Keller Williams real estate Glendale, and listing agent does not warrant this information and instructs buyer to do their own survey to verify. According to city code as of July 12, 2024 , for R5 zoning you could build minimum 39.1 residential units per acre, and maximum 50 residential units per acre. In addition you could also build up to 25% of city approved units as accessory residential dwelling units provided you meet all city codes and requirements per city which could be less than 25% of total units.. You could also build more units if you apply city density bonus and must dedicate a certain percentage of the total units for very low income tenants. Buyer to contact city as to what that percentage is to find out the maximum rent allowed for those tenants, and investigate all requirements from city for using the density bonus and all city requirements for accessory dwelling units. Both parcels are above/North upslope of Foothill Blvd which makes it less costly for building apartments due to city requirements regarding draining issues. Both parcels are leveled lot , one parcel has old remains of foundation from a old Motel 14951 Foothill Blvd Fontana is newer apartment building called Levante Apartment Homes , their asking rent per verbal communication with their property manager was 2100 for one bedroom and 2825 for 2 bedrooms as of February 1, 2022. buyer to verify this information currently.

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