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New Listing – 16 Adjoining Lots on 2.57 Acres in Upland

New Listing – 16 Adjoining Lots on 2.57 Acres in Upland

Benji Gribnau and Nico Rosmarin of Lyon | Stahl are pleased to present 167 Sultana Ave & 164-184 3rd Ave, 16 adjoining lots in Upland!

This property is listed for $7,900,000

 

Excellent opportunity to acquire 16 adjoining lots on 2.57 acres adjacent to the Metrolink station in the West San Bernardino submarket in Upland, California. This asset has never been sold previously and is centrally located in the heart of Upland, providing strategic access to multiple transportation routes and to the historic downtown neighborhood. The major cross streets are Euclid Avenue and 8th Street and the immediate surrounding area is a mixture of residential, light industrial, and commercial properties.

With 2.57 acres, this makes a perfect opportunity to develop a mixed-use structure. The adjacent few blocks have been developed into condominiums and sold off at roughly $400k each. The property is in one of the most coveted cities in the San Bernardino submarket and is highlighted by gorgeous views, streets lined with trees, moderate climate and is located near the 10 Freeway, which makes this a great location to build either an assisted living community, 100+ multifamily apartment units or condos. Also, given its proximity to major distribution routes and densely populated metro areas, this is also a great location for storage facility. All renters are on month to month agreements allowing a buyer to easily vacate for redevelopment.

167 Sultana houses an industrial food processing warehouse with 30,000 Sq Ft of rentable space and sits on a 35,284 Sq Ft lot. Also adjoining, are two single-family homes on a 7,000 Sq Ft lots each at 164 S 3rd Ave. There is also a quadruplex which lies on a 7,000 Sq Ft lot at 170 S 3rd Ave and a duplex which sits on another 7,000 Sq Ft lot at 176 S 3rd Ave.


City Overview: 

Upland is a city on the northern edge of the San Bernardino Valley. The San Bernardino Valley. The San Gabriel Mountains are to the north of Upland. The city terrain is fairly flat but slopes gradually to the north. From south the north, the city elevation increases by 825 feet over a distance of 4.25 miles. Upland is located at the foot of the highest part of the San Gabriel Mountains.

Upland is home to Cable Airport, the world’s largest family-owned, public use, general aviation airport. Interstate 10 runs along Upland’s boundary with Ontario, and connects Upland with Los Angeles to the west and San Bernardino to the east.

As of the 2018 census, the city had a population of 77,297, up from 73,287 at the 2010 census. The median age of the population in the area is 32.

To learn more about this property:
Download the marketing package here
View the listing here 
•Contact Benji@lyonstahl.com – (323) 272-2117
•or Nico@lyonstahl.com – (424) 226-9449

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