Description

CALL ERIC -SEE REMARKS: 3.1-Acre Residential Development Opportunity

Land Size: ±3.10 Acres (±135,036 SF)

Zoning: R1-20 (City of Corona)

APN: 123-330-006

DISCOUNT FOR ALL CASH OFFERS!!!

RECENT HOMES IN THE AREA HAVE SOLD FOR OVER A MILLION $$$

Rare opportunity to acquire a 3.1-acre residential infill parcel in the City of Corona, located in an established neighborhood near La Salle Circle. The site offers by-right single-family development with meaningful density upside for builders or developers pursuing a subdivision or rezoning strategy.

This is a clean, flat-to-gently sloping land play with surrounding residential development, utilities nearby, and strong long-term fundamentals driven by limited land supply in the Corona submarket.

DEVELOPMENT POTENTIAL / YIELD

By-Right Zoning (R1-20):

• Approx. 6 single-family homes (20,000 SF minimum lot size; Subject to City Approval)

Implied Land Basis: ~$8.10 per SF

Recent closed land sales in the area reflect higher $/SF pricing for smaller, entitled parcels, while larger bulk residential land trades at a discount. This pricing captures future upside while remaining financeable and underwritable for real developers.

KEY HIGHLIGHTS

Suitable for builders, developers, or long-term investors

Close proximity to schools, retail, and major arterials



This site presents a classic entitlement-driven value-add opportunity:

Build 6 estate-style homes by right, or

Pursue approvals to unlock higher density and increased land value to develop 9-10 homes with city approval

ELECTRIC:

Electric service is available in the surrounding residential area and can be extended to the site. While final costs will depend on load, design, and whether service is required to be underground, proximity to existing infrastructure materially lowers uncertainty compared to raw land. A buyer may request a will-serve letter and preliminary design from the local utility to confirm capacity and final cost

WATER & SEWER

Municipal water and sewer lines are present in the area and available for connection, subject to standard city and utility provider approvals. Typical connection fees and on-site improvements should be anticipated for subdivision or single-family development.

GAS & TELECOM

Natural gas and telecommunications services are available nearby and can be extended as part of a standard residential development process.



Utility Disclaimer: buyer to independently verify all utility conditions and requirements.