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211 East Olive Avenue

Redlands CA 92373

22277 sq. ft.
16912 sq. ft.
Other
Currently for sale - view listing

Overview

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. Orange Street Alley and State Street anchor a walkable retail and dining corridor. The Arrow Line connects residents to the broader Metrolink network. Fully entitled multifamily sites in Downtown Redlands rarely come to market. This submarket offers immediate access to a thriving retail and dining corridor, the University of Redlands, the Arrow Metrolink Line, and an established base of national and local tenants that continue to drive foot traffic and rental demand throughout the area.

Features

22277 sq. ft. floor area
16912 sq. ft. lot size
Other

Happy sellers in Redlands

80%
80% of sellers in Redlands reported that their sale price either exceeded or met their price expectations.

Redlands stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 3 reviews in Redlands over the last 12 months.

Local market activity for other properties in Redlands

In the last 12 months, 9 other properties similar to 211 East Olive Avenue, have been sold.

This represents a 39% increase in other properties sales when compared to the previous 12 months.

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