The subject property is a 4.1 acre development site located at 1362 W. 6th Street in the city of Corona. The site is currently operating as Edwards RV & Storage with 14 RV tenants on short term leases, 150 RV storage spaces, a duplex and an office. Access to the site is from the north on 6th Street over an easement provided by a neighboring parcel. The south side of the property provides for 343' of frontage along Smith Avenue although this side of the site is currently fenced in. This site is very well maintained and is composed of two separate parcels as indicated in the following grid. Zoning on this site is R3 Residential and the General Plan Land Use Designation is HDR High Density Residential. Density allowed in this zone is up to a maximum of 36 dwelling units per acre. Height limits will be 3 stories or 40 feet maximum height and this zoning classification allows for 60% site coverage. This site is also located in one of the newly created federally designated Qualified Opportunity Zones. Opportunity Zones offer significant tax incentives to prospective buyers (Qualified Opportunity Funds) in an effort to spur development in certain areas.
Listing courtesy of Matthew Wenzel from Marcus & Millichap
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