1027 W E St - Apartments FOR SALE


Ontario, CA 91762
$2,800,000 USD
909-418-2071
1027 W E St, Ontario, CA for Sale
$2,800,000 USD
Apartments - FOR SALE
1/34
null | 3.78% Cap Rate

1027 W E St
Ontario, CA 91762


HIGHLIGHTS

  • Excellent Ontario Rental Location – Between 10 & 60 Freeways off Mountain Avenue
  • Partially Upgraded Units with Positive Rent Growth Potential – Upon a Complete Remodel, Rents are Looking to Grow Approximately 58% to Achieve Market
  • Two Six-Unit Buildings, Totaling ±11,044 Rentable SF, Situated on a Corner ±17,001 SF Lot
  • All 2-Bedroom/1-Bathroom Units, Approximately 920 SF
  • Offer at 3.78% Cap Rate on Current Income- 7.39% Cap Rate with Rent Increases
  • Professionally Managed Well Maintained Property – New Exterior Paint with Termite Completion, Carport Roof Redone in the Past 5 Years

OVERVIEW

CBRE, Inc, as Exclusive Advisor, is proud to present the Mountain View Apartments, a 12- Unit multifamily property, located at 1027 W E Street in the City of Ontario. The Mountain View Apartments is an excellent investment opportunity situated on the corner of N Palmetto Avenue and West E Street. Mountain View Apartments is located in Ontario, a high-demand market with a rapidly growing population. Tenant’s benefits from unparalleled convenience and accessibility to major retailers like Walmart, Costco, Raising Canes, Target, and a variety of restaurants, malls, parks, banks, and fitness centers nearby as well as essential services like Kaiser Permanente Medical Center. Within a 10-mile radius, are popular attractions like Victoria Gardens, Top Golf, Toyota Arena, and Claremont Village. The property is also located within a 25-mile radius of several notable SoCal attractions in San Gabriel Valley, Anaheim, and Riverside. Mountain View Apartments, a 12-unit complex, offers all 2B/1B units for a total of ±11,044 square feet of living space on a ±17,001 square foot lot. Convenient parking is provided for all residents with 12 carports. Recent upgrades include a new roof, exterior renovations, and termite treatment. Over half of the units feature modern interiors with granite countertops, wood flooring in the living rooms, and tile flooring in the bathrooms and kitchens. The average unit size is 920 square feet. Mountain View Apartments offers a stable and profitable investment opportunity with 58% rental growth potential to achieve market rents. Currently generating $15,945 in monthly income, this multifamily property is ideally situated in Ontario, a high demand thriving Inland Empire market. Whether you’re a first-time investor, seasoned professional, or seeking a 1031 exchange, Mountain View Apartments presents a lucrative investment choice and valuable long-term asset.

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$254 USD /SF

# OF UNITS

12

PRICE/UNIT

$233,333

CAP RATE

3.78%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mountain View Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.39 AC

LAND SF

17,001 SF

ZONING

R3

APN/PARCEL ID

1010-463-04

ASK ABOUT THIS PROPERTY

Eric ChenCBRE, Inc.More Info
909-418-2071

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Eric ChenCBRE, Inc.More Info
909-418-2071

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.