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Property profile & analytics
OFF-MARKET
Estimated value
$7,460,000
Warehouses
2311 Locust Ct Ontario, CA 91761-7614
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-1019030
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
30,450 SF
Lot
1.56 ac (67,953 SF)
APN
0113-396-09-0000
UPID
US10-1019030
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Smart AVX Factory Production Facility
-
AT TECH Systems Home Appliance Store IT Consulting Firm
-
Vitashower Corporation. Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.46M
CAP Approach
CAP
$5.38M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.46M
Owner & transaction history
Veena Asset Management LLC · 2 yrs held
Veena Asset Management LLC
since 2024
Last sale
$7.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$10.3M
+29.5%
Auto repair, garage
$9.3M
+16.9%
Medical building
$8.8M
+11.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Ontario submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ontario submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$7,460,000
ML approach
$7,460,000
CAP Approach
CAP Return
Estimation
6%
$5,825,000
6.5%
$5,375,000
7%
$4,990,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$7,930,000
Current use
INDUSTRIAL (GENERAL)
$10,265,000
Change: +29% · Conversion: Easy
AUTO REPAIR, GARAGE
$9,270,000
Change: +17% · Conversion: Easy
MEDICAL BUILDING
$8,810,000
Change: +11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$8,195,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$7.46M
Range $6.71M – $8.21M · ±10% · vs last sale $7.46M (Jul 3 2024)
Last sale anchor
$7.46M
Jul 3 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$245 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$52,510
Tax year 2024
Assessed value
$4,932,343
Assessed 2024
Previous assessed
$4,932,343
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$1,476,422
Assessed improvement
$3,455,921
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Units
1
Total area
30,450 SF
Lot
1.56 ac (67,953 SF)
APN
0113-396-09-0000
UPID
US10-1019030
Jurisdiction
SAN BERNARDINO
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$7.9M
INDUSTRIAL (GENERAL)
Est. value
$10.3M
AUTO REPAIR, GARAGE
Est. value
$9.3M
MEDICAL BUILDING
Est. value
$8.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.2M
WAREHOUSE, STORAGE Current
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Units
1
Lot
1.56 ac
Current owner
From public records · entity-resolved
Veena Asset Management LLC
Entity
Mailing address
11 E MORRO BAY CT, IRVINE, CA 92602-1083
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
21 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 3, 2024
$7,460,500
Veena Asset Management LLC
Focus Universal INC
Grant Deed
$6,000,000 · Commercial Bank Of Ca
May 10, 2024
—
Focus Universal INC
—
Deed
related
$100,000 · 620magnolia LLC
Sep 7, 2023
—
Focus Universal INC
—
Deed
related
$1,000,000 · Golden Sunrise Investment LLC
Feb 3, 2021
—
Focus Universal INC
Focus Universal INC
Intrafamily Transfer
related
—
Sep 11, 2018
$4,510,000
Focus Universal INC
Spx Investment LLC
Grant Deed
—
Jul 23, 2018
—
Diana Luo
Luo,an B
Quit Claim Deed
—
Jan 12, 2017
—
An Bang Luo
—
Deed
related
$4,000,000 · Us Metro Bank
Jul 12, 2013
—
An B Luo
Luo Family 2009 Trust
Quit Claim Deed
related
—
Oct 24, 2011
—
Luo Family 2009 Trust
Luo,an B & Diana
Quit Claim Deed
related
—
Dec 26, 2008
—
An B Luo
Bang,luo A
Quit Claim Deed
related
$1,175,000 · Merchants Bank Of California
Oct 29, 2008
$2,672,000
Luo A Bang
Steward J Living Trust
Grant Deed
—
Jul 28, 2008
—
Stewart J 1990 Living Trust
Stewart,james W & Bernadette
Quit Claim Deed
related
—
Mar 13, 2003
$1,400,000
James W Stewart
Jurado,ivan
Grant Deed
$630,000 · Citibank West Fsb
Jun 29, 1994
—
Advanced,plastic
—
Trustees Deed
related
—
Jul 15, 1993
$2,932,800
Pacific First Fed'l Savings Bk
Singer/stenton P
Trustees Deed
related
—
—
—
An Bang Luo
—
Deed Of Trust
related
$1,250,000 · Xiang Kun Investment USA INC
—
—
Luo A Bang
—
Deed Of Trust
related
$673,932 · James W & Bernadette Stewart
—
—
An B Luo
—
Deed Of Trust
related
$1,160,000 · Merchants Bank Of California
—
—
Advanced Plastics Technology
—
Deed Of Trust
related
$765,000 · Orange National Bank
—
—
Advanced Plastics Technology
—
Deed Of Trust
related
$749,000 · Wells Fargo Bank
—
—
An B Luo
—
Deed Of Trust
related
$800,000 · Merchants Bank Of California
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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