221 Mountain Ave Ontario, CA 91762
- Commercial real estate
- 38,925 SF
Current Use by Public Records
- The Willow Townhomes / Apartment Rental Agency / Apartment Building
Property Details for 221 Mountain Ave
- Year built
- 2024
- Property size
- 38,925 SF
- Property type
- Commercial real estate
- APN
- 1010-521-42
Description
Presenting The Willow Luxury Townhomes, a stunning new construction multifamily investment opportunity in Ontario, CA. This exceptional property boasts 39 tri-level townhouses, a mix of one-bedroom/one-bathroom + loft and two-bedroom/two-and-a-half-bathroom units, averaging 998 square feet. Completed in June 2024, The Willow features high-end finishes including private attached garages with Bluetooth access, EV charging, modern flooring, in-unit laundry, stainless steel appliances, quartz countertops, and private balconies. Community amenities include controlled gated access, a shared picnic area with BBQs, built-in yard games, and paid-for solar panels. Situated on a 55,321 square foot lot at 221 N Mountain Ave (APN 1010-521-42), this property enjoys a prime location with convenient access to major freeways (10, 60, 57, 71, 210, and 15), shopping, dining, and essential services, including Ontario International Airport and major medical facilities. The Willow is nearly fully occupied, generating a current NOI of $888,740 and a 4.94% cap rate, with a pro-forma NOI of $1,007,342 and a pro-forma cap rate of 5.60%. The asking price is $17,995,000 ($461,410 per unit and $462.30 per square foot). This is a rare opportunity to acquire a brand-new, high-performing asset in a thriving market with non-rent-controlled units and minimal maintenance, making it ideal for a variety of investors. Tenant utilities (electric, gas, water, sewer, and trash) are individually metered.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ontario
- County
- San Bernardino
- State
- California
- Longitude
- -117.670471
- Latitude
- 34.0656869
