9074 Olive St, Fontana, California 92335, Fontana, 92335 - 2 bed, 1 bath

9074 Olive St, Fontana, California 92335 home-pic-0
ACTIVE$749,000
9074 Olive St, Fontana, California 92335
2Beds
1Bath
1,095Sqft
18,900Lot

Price Vs. Estimate

The estimated value ($407,322.94) is $341,677.06 (45%) lower than the list price ($749,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 18900, living area = 1095.
Top Cons:
Substantial Capital Investment Required: The list price of $749,000 is for the land, with significant additional capital needed for the construction of a 10-unit apartment complex, representing a large overall project cost.

Compared to the nearby listings

Price:$749.0K vs avg $562.5K (+$186,500)95%
Size:1,095 sqft vs avg 1,285 sqft27%
Price/sqft:$684 vs avg $43497%

More Insights

Built in 1922 (103 years old).
Condition: The property was built in 1922, making it over 100 years old. The listing explicitly markets this as a 'Huge Development Opportunity' with 'Tremendous Land Value' for building a 10-unit apartment complex. The existing 2-bed, 1-bath home is mentioned only as suitable for 'staging or rental during development,' and no images of its current condition (including kitchen or bathrooms) are provided. All images are architectural plans for the proposed new construction. This indicates that the value is solely in the land for redevelopment, and the existing structure is considered a tear-down for the intended project.
Year Built
1922
Close
-
List price
$749K
Original List price
$749K
Price/Sqft
$684
HOA
-
Days on market
-
Sold On
-
MLS number
41094023
Home ConditionTear down
Features
View-

About this home

Huge Development Opportunity in Prime Fontana Location! Plans Nearly Approved – Build a 10-Unit Apartment Complex! Lot Size: 0.43 Acres | 18,900 Sq Ft. Calling all investors, builders, and developers! This rare Fontana gem is a prime opportunity to build a high-demand multi-family project on a spacious 0.43-acre lot. The current owners have invested over $50,000 and more than 2+ years of effort to secure critical approvals — including PAM (Plan of Action and Mitigation) approval. Only the Design Review phase remains before you're ready to break ground on a 10-unit apartment complex, with each unit designed as a 2-bedroom, 2-bathroom layout. ? Property Highlights: PAM Approved – Major milestone completed! 10-Unit Apartment Plan – Each unit: 2 bed / 2 bath. Only Design Review Left – Nearly shovel-ready. $50K+ Already Invested in Approvals – Save 2+ years of time and $50K+ money. Large Lot (18,900 sq ft) – Room for parking, landscaping, or amenities. Centrally located near schools, parks, shopping, and major freeways. Existing 2 bed / 1 bath home (1,095 sq ft) currently on site – great for staging or rental during development. Tremendous Land Value in a fast-growing market. This is YOUR chance to develop a high-yield income producing 10+ units property.

Condition Rating
Tear down

The property was built in 1922, making it over 100 years old. The listing explicitly markets this as a 'Huge Development Opportunity' with 'Tremendous Land Value' for building a 10-unit apartment complex. The existing 2-bed, 1-bath home is mentioned only as suitable for 'staging or rental during development,' and no images of its current condition (including kitchen or bathrooms) are provided. All images are architectural plans for the proposed new construction. This indicates that the value is solely in the land for redevelopment, and the existing structure is considered a tear-down for the intended project.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 18900, living area = 1095.
Advanced Development Approvals: Significant hurdles have been cleared with 'PAM Approved' status, and only 'Design Review' remains, saving over 2 years and $50,000+ in initial approval efforts.
High-Density Development Potential: Plans are nearly approved for a 10-unit apartment complex, each with a 2-bedroom, 2-bathroom layout, maximizing the income-generating capacity of the land.
Large & Versatile Lot: The spacious 0.43-acre (18,900 sq ft) lot provides ample room for the proposed 10-unit development, parking, and potential amenities.
Strategic Location: Centrally located in a fast-growing Fontana market, near schools, parks, shopping, and major freeways, enhancing future rental demand and property value.
Existing Income/Utility Property: The current 2-bedroom, 1-bathroom home on site offers potential for staging or interim rental income during the development phase.

Cons

Substantial Capital Investment Required: The list price of $749,000 is for the land, with significant additional capital needed for the construction of a 10-unit apartment complex, representing a large overall project cost.
Remaining Approval Process: Despite advanced progress, the 'Design Review' phase is still pending, which could introduce further delays or require modifications before construction can commence.
Demolition and Site Preparation Costs: The existing 1922 home will likely require demolition and site clearing, adding to the initial project expenses and timeline before development can begin.

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