221 N Mountain Ave - Apartments FOR SALE


Ontario, CA 91762
$17,995,000 USD
909-418-2071
221 N Mountain Ave, Ontario, CA for Sale
$17,995,000 USD
Apartments - FOR SALE
1/80
null | 4.94% Cap Rate

221 N Mountain Ave
Ontario, CA 91762


HIGHLIGHTS

  • Rare Trophy Asset: Brand New Construction, Fully Occupied Townhouse Development in Desirable West Inland Empire
  • Prime Income-Producing Property: Great Long-Term Investment with Non-Rent-Controlled Units, Minimal Maintenance, Tenant Paid Utilities
  • Desirable Unit Mix: Tri-Level Spacious 1-Bedroom + Den & 2-Bedroom Townhouse Units | Average Unit Size of 998 SF
  • Centrally Located: Convenient Access to 10, 60, 57, 210 and 15 Freeways Connecting to all the Inland Empire, Los Angeles County, Orange County
  • Luxurious Unit Amenities: Residences Feature Private Attached Garages with Bluetooth Access, EV Charging Accessible, Modern Waterproof Plank Flooring
  • Building Features Include: Controlled Gated Access at Alleyway, Professional Management, Shared Picnic Area with BBQ Grilling Stations

OVERVIEW

CBRE, Inc, as Exclusive Advisor, is proud to present for sale, The Willow Luxury Townhomes (The Willow), a brand-new construction trophy asset located at 221 North Mountain Avenue in the desirable west region of the Inland Empire. The Willow is situated on the west side of North Mountain Avenue between West D Street and West Stoneridge Court in the city of Ontario, California. Ontario is a high-demand rental market, one of the fastest growing cities within the Inland Empire, and the economic heart of the region. Tenants at The Willow will benefit from unparalleled convenience and accessibility to major retailers like Walmart, Costco, Target, Stater Brothers, Cardenas and a variety of restaurants, malls, parks, banks, and fitness centers nearby. Additionally, within close-proximity are essential services like Ontario International Airport, Kaiser Permanente Medical Center and Pomona Valley Hospital Medical Center. Also, within a 10-mile radius, are popular attractions like Ontario Mills, Montclair Plaza, Victoria Gardens, Top Golf, Toyota Arena, and Claremont Village. Lastly, the property is centrally located with convenient access to the 10, 60, 57, 71, 210 and 15 freeways connecting to all the Inland Empire, Los Angeles County, Orange County, and beyond. The Willow Luxury Townhomes consists of 39 tri-level townhouse style residential units. The property is a green building and finished construction in June 2024. It features eighteen, one-bedroom/one-bathroom + loft townhomes and 21, two-bedroom/two-and-one-half-bathroom townhomes with an average unit size of 998 square feet. Unit amenities feature private attached garages with Bluetooth access, EV Charging accessible, modern waterproof plank flooring, in-unit washer & dryer, stainless steel appliance package, hardwood cabinetry, quartz countertops, recessed lighting, central air-conditioning & heating, and private balconies. The well-maintained property also features controlled gated access at alleyway, professional management, a shared picnic area with BBQ grilling stations, built-in yard games, paid-for solar panels, and is a cozy community atmosphere. The Willow was leased nearly to 100% occupancy within the first three months of completion and currently has a monthly gross potential rent of $106,770. The property is a great long-term investment opportunity boasting non-rent-controlled units, minimal maintenance, and tenant paid utilities (each unit is individually metered for electric and gas and has a sub-meter for water and sewer. Tenants also pay for their own trash bins). The Willow offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.

FOR SALE DETAILS

PRICE

$17,995,000 USD

PRICE/SF

$461 USD /SF

# OF UNITS

39

PRICE/UNIT

$461,410

CAP RATE

4.94%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Willow

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2024

PARKING SPACES

73

LAND DETAILS

LAND ACRES

1.27 AC

LAND SF

55,321 SF

ZONING

-

APN/PARCEL ID

1010-521-28

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.