716 Phillips St Ontario, CA 91762
- Commercial real estate
- 17,070 SF
Current Use by Public Records
- Commercial real estate
Property Details for 716 Phillips St
- Year built
- 1984
- Property size
- 17,070 SF
- Property type
- Commercial real estate
- APN
- 1049-583-55 through 1049-583-69
Description
This exceptional investment opportunity presents a 15-unit townhome community in Ontario, CA, boasting 17,070 square feet on a substantial 47,916 square foot lot. The property, built in 1984, comprises five two-story buildings, each housing spacious 2-bedroom, 2.5-bathroom townhomes averaging nearly 1,200 square feet. Each unit features in-unit laundry, patios/balconies, and a 2-car garage. The property's prime location offers convenient access to major freeways (10 and 60), numerous retail amenities (Target, Home Depot, In-N-Out, etc.), and popular attractions (Victoria Gardens, Toyota Arena, Top Golf). Currently generating a NOI of $278,121 (4.41% cap rate), a pro-forma NOI of $360,965 (5.73% cap rate) is projected, reflecting significant upside potential through increased rental income. The individually parceled units offer flexibility for future sales, either as a whole or individually. The large lot size presents potential for future development (buyer to verify). The asking price is $6,300,000 ($420,000 per unit and $369.07 per square foot). Additional income streams from a utility reimbursement program further enhance the property's value. This is a rare opportunity to acquire a well-located, value-add multifamily property with substantial upside potential in a rapidly growing area. The property's APN is 1049-583-55 through 1049-583-69.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ontario
- County
- San Bernardino
- State
- California
- Longitude
- -117.661387
- Latitude
- 34.049886
