*** Call/Text: 310-279-3168 *** Introducing 24693 Ironwood Ave, a uniquely strategic commercial gem located in the residential heart of Moreno Valley, Riverside County, CA. Boasting an expansive ±7,056 SF footprint and a sizable lot, this property is zoned R5, opening avenues for future expansion. The building is practically turn-key and ready to go! Per previous owners (a large Daycare firm), the Building has previously been approved for 144 children as a Daycare Facility. BONUS: PER SENIOR CITY PLANNER "..Approval of a Conditional Use Permit is not required for Day Care Centers in the R5 Zone." The R5 zoning accommodates Early Education - Preschools, Daycares, Assisted Living/Senior Care, Group Housing, and potential Medical-Dental Facilities.
The R5 zoning presents an opportunity to tap into high-demand industries such as Early Education - Preschools (its current public use), Daycares, Assisted Living/Senior Care, Group Housing (Convalescent Homes, SRO's, Alcohol & Drug Treatment Facilities, etc.), and potentially Medical-Dental Facilities. Special uses like Churches and Community-Centric Services could also thrive, making use of the large grassy lot and unique exterior pool—features that attract guests and customers seeking enriched summer camps and dynamic Youth/Senior activities.
This property holds a competitive advantage by being strategically located within a high-demand residential neighborhood, away from busy commercial spaces and associated traffic. Yet, it remains conveniently close for commuter access, just a few blocks between two main roads. Moreover, the lot is equipped with ample parking space, with the potential for expansion if needed, all while maintaining a substantial grassy area.
In addition to its unique features, the property's sale includes many improvements, including a fully paid, recently installed full AC system with SEVEN UNITS, NEW insulation for increased energy efficiency, recently renovated interiors featuring new drywall and new energy-efficient LED lighting throughout, a revitalized exterior with a cleared landscaping, an exterior pool reaching 3 and a half feet deep (great for children and seniors), a new main and irrigation backflow system with completely new PEX and Copper plumbing, updated exterior lighting, and a new tankless water heater and multiple toilets. Collectively, these improvements not only elevate the property's value but also ensure comfort, sustainability, and a modern aesthetic for future occupants.
The expansive grassy lot is a rare commodity, offering ample space for future expansion, a vast play area for kids, and a perfect venue for various events. Notably, each of the six large rooms (with the two center rooms combined into one spacious area that can also be utilized for events/conferences) reportedly had been previously authorized for up to 24 occupants/daycare students/children, suggesting a potential annual yield in the millions of dollars. However, as a conservative cap rate example; assuming a Net Operating Income (NOI) of $594,000 (calculated based on 75% occupancy of 144 slots at $9,000 per student, typical expenses, with 4 teachers and 2 assistants) and a purchase price of $1,450,000, the cap rate would be approximately 40.96% (very good!). Additionally, the facility includes a kitchen, reception area, and office, along with a break room, three bathrooms, and two utility rooms with washer/dryer hookups, with the added option for a shower.
For investors, whether international or domestic, this property not only offers access to the dynamic American market bdt also aligns with societal needs and government initiatives. The City of Moreno Valley's groundbreaking on the World Logistics Center, one of the world’s largest logistics centers, scheduled to start construction at the end of 2023, presents a lucrative opportunity. The resulting demand for care facilities, coupled with the city's constant community expansion projects, makes the purchase of this property an investment with long-term growth potential.
This isn't just an investment; it's a strategic step into the future. Properties like these are typically held as part of a serious investor’s long-term portfolio. Explore the potential, secure your space, and script your next chapter of success at 24693 Ironwood Ave.
SOURCES:
https://www.morenovalleybusiness.com/data/
https://www.moval.org/cdd/documents/about-projects.html
https://www.theworldlogisticscenter.com/about
https://www.pressenterprise.com/2023/03/08/world-logistics-center-to-break-ground-in-moreno-valley-this-year/
MoVal 2040 GENERAL PLAN [ECONOMIC DEVELOPMENT]: https://www.moval.org/cdd/documents/general-plan-update/draft-docs/GP-Elements/03.pdf
Moreno Valley Business Incentives: https://www.morenovalleybusiness.com/
Disclaimer: Buyer is advised to conduct thorough due diligence on the property and its potential uses, including but not limited to zoning regulations, permits, and any restrictions, to ensure alignment with their intended purposes.
More Property Details at: https://portal.onehome.com/en-US/share/2412588a16798
Esteban Robledo
Elevate Real Estate Agency