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 UpwardsHubzone QualifiedSouthern California Edison - SCE Southwest Gas Corporation -Liberty Utilities - Town of Apple Valley - -Planning: x.7200-Engineer: x7013-Public Utilities: x7500To 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)
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0BEDS
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0.7ACRES
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01/2 BATHS
School Ratings & Info
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 UpwardsHubzone QualifiedSouthern California Edison - SCE Southwest Gas Corporation -Liberty Utilities - Town of Apple Valley - -Planning: x.7200-Engineer: x7013-Public Utilities: x7500To 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)
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-03-25T00:29:29.63. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Robyn Graham & Associates | Keller Williams. Licensed in the State of California, USA.