$1,550,000

211 Olive Residences Ready-To-Issue Multifamily Development Site | 15 Units | Downtown Redlands, CA 92373. Offered at $1,550,000. This is a fully entitled development opportunity in the heart of Downtown Redlands. The entitlement work is complete. The project consists of 15 market-rate residential units across two structures totaling 22,277 square feet. Eleven apartments occupy a three-story main building. Four ADUs occupy a separate detached structure. The unit mix is (3) one-bedroom one-bath, (7) two-bedroom one-bath, and (1) three-bedroom two-bath in the main building. The four ADUs consist of (2) two-bedroom two-bath units up to 1,150 square feet located on the north portion of the parking garage and (2) two-bedroom two-bath units up to 950 square feet in the detached stacked structure. Plans were designed by Gary Miller, AIA of Miller Architectural Corporation. All design disciplines are fully coordinated and approved. Architectural, structural, civil, mechanical, electrical, plumbing, fire, life safety, and landscape. The site is 0.39 acres and carries an AB 2097 parking exemption due to its proximity to the Redlands Arrow Metrolink station. On-site parking is provided. Downtown Redlands is a proven submarket. The University of Redlands drives consistent rental demand. Oran