Skip to main content

Multi-Family

1364 N Towne Ave

1364 N Towne Ave, Claremont, CA 91711

Listing Price: $4,850,213

Lot Size
1.89 acres
Price/Acre
$2,566,250
Land Type
Land

Investment Overview

Marcus & Millichap is pleased to present the rare opportunity to acquire 1364 North Towne Avenue in the city of Claremont, California. This multi-family land sits on 1.89 acres parcel with an existing 6,160 square feet church. The site is currently zoned RM2000. The City of Claremont is in process of adding an “Overlay 30” zoning. With this new “Overlay 30” zoning and bonus density options from the State of California, there is an opportunity to develop approximately 67+ units on this parcel. Please contact the City of Claremont Building and Planning to confirm zoning and development opportunities. The property is ideally located just north of Historic Route 66 and within close proximity to Interstate 210 and Interstate 10 Freeways which benefits commuters traveling in between cities in Greater Los Angeles Area and the Inland Empire. The property is surrounded by multiple highly rated private and public schools such as The Webb Schools, Mountain View Elementary School, El Roble Intermediate School, and Claremont High School, all within minutes’ drive from the property. The site is within walking distance to CVS, Walgreens Pharmacy, and Stater Brothers Markets. Other major department and grocery stores are located within a two-mile radius from the subject property, including Sprouts Farmers Market, Target, Marshalls, Amazon Fresh, and Michaels. For outdoor recreational activities, residents also enjoy the popular Claremont Hills Wilderness Park for hiking and mountain biking or take a walk in the California Botanic Garden. City of Claremont is a residential community nestled at the base of the San Gabriel Mountains on the eastern edge of Los Angeles County. The city distinguishes itself through its cohesive collection of distinct, well-maintained, and safe neighborhoods with diverse college and business community. One of the city’s major projects in the works is the Foothill Metro Gold Line Claremont station, two miles away from the subject property. This project is scheduled to be completed in early-January 2025 and consists of light rail track installation, new fencing and walls, grade crossings, and bridge work. Once completed, a trip from Claremont to Pasadena will take approximately 36 minutes and further to downtown Los Angeles will take approximately 65 minutes.

Investment Highlights

  • Opportunity to Develop Approximately 67+ Multi-Family Residential Units (Buyer to Verify)
  • 165 Feet of Frontage on Towne Avenue
  • Lot Size of 82,207 Square Feet (1.89 Acres)
  • Zoned RM2000
  • Located Close to Historic Route 66, Interstate 210 and 10 Freeways
  • Over $124,000 Average Household Income Within 1-Mile Radius
  • Population In Excess of 331,000 Within 5-Mile Radius
  • Outstanding Location and High Barrier to Entry

Exclusively Listed By

Financing By

Multi-Family

1364 N Towne Ave

Listing Price: $4,850,213

Lot Size
1.89 acres
Price/Acre
$2,566,250
Land Type
Land

Investment Highlights

  • Opportunity to Develop Approximately 67+ Multi-Family Residential Units (Buyer to Verify)
  • 165 Feet of Frontage on Towne Avenue
  • Lot Size of 82,207 Square Feet (1.89 Acres)
  • Zoned RM2000
  • Located Close to Historic Route 66, Interstate 210 and 10 Freeways
  • Over $124,000 Average Household Income Within 1-Mile Radius
  • Population In Excess of 331,000 Within 5-Mile Radius
  • Outstanding Location and High Barrier to Entry

Investment Overview

Marcus & Millichap is pleased to present the rare opportunity to acquire 1364 North Towne Avenue in the city of Claremont, California. This multi-family land sits on 1.89 acres parcel with an existing 6,160 square feet church. The site is currently zoned RM2000. The City of Claremont is in process of adding an “Overlay 30” zoning. With this new “Overlay 30” zoning and bonus density options from the State of California, there is an opportunity to develop approximately 67+ units on this parcel. Please contact the City of Claremont Building and Planning to confirm zoning and development opportunities. The property is ideally located just north of Historic Route 66 and within close proximity to Interstate 210 and Interstate 10 Freeways which benefits commuters traveling in between cities in Greater Los Angeles Area and the Inland Empire. The property is surrounded by multiple highly rated private and public schools such as The Webb Schools, Mountain View Elementary School, El Roble Intermediate School, and Claremont High School, all within minutes’ drive from the property. The site is within walking distance to CVS, Walgreens Pharmacy, and Stater Brothers Markets. Other major department and grocery stores are located within a two-mile radius from the subject property, including Sprouts Farmers Market, Target, Marshalls, Amazon Fresh, and Michaels. For outdoor recreational activities, residents also enjoy the popular Claremont Hills Wilderness Park for hiking and mountain biking or take a walk in the California Botanic Garden. City of Claremont is a residential community nestled at the base of the San Gabriel Mountains on the eastern edge of Los Angeles County. The city distinguishes itself through its cohesive collection of distinct, well-maintained, and safe neighborhoods with diverse college and business community. One of the city’s major projects in the works is the Foothill Metro Gold Line Claremont station, two miles away from the subject property. This project is scheduled to be completed in early-January 2025 and consists of light rail track installation, new fencing and walls, grade crossings, and bridge work. Once completed, a trip from Claremont to Pasadena will take approximately 36 minutes and further to downtown Los Angeles will take approximately 65 minutes.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower