$685,000

Located in four seasons resort area of Big Bear Lake, this R3 zoned land offers an unique opportunity for the developers and investors. With a total of 1.6 Acre, this property is perfect for 18 units multi family apartments. (12 units per acre by R3 zoning). Some of these units could have lake views from their second or third stories. Owner can provide topography, geotechnical investigation report and preliminary development site review report from the city.Beautiful mature trees; walking distance to the main local market (Starbucks, Vons, Stater bros, DIY etc. ), Big Bear lake and the national forest. A great investment for future development. There are possibilities for a joint venture with the owner who owns next lot for bigger project. According to the City Housing Update for August 2020 city housing supply consist only 10 % of multi family units with less then 1.100 sq.ft. The majority is a single family units which are mostly short term rental. Preliminary agreement with the city authorities for increase of density up to 50 units if developers project will be for long term rental. any other alternative projects may be considered. The asking price is $685K. APN 0311-421-54-0-000 Owner can provide appraisal report.