1429 N Grove AVE, Ontario, CA 91764
1429 N Grove AVE, Ontario, CA 91764
1429 N Grove AVE, Ontario, CA 91764
1429 N Grove AVE, Ontario, CA 91764
1429 N Grove AVE, Ontario, CA 91764
1429 N Grove AVE, Ontario, CA 91764
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Sam Mu

Sam Mu

+1(949) 258-2228
$ 9,500,000
Est. payment | /mo

26,624 SqFt

Save
$ 9,500,000
Est. payment | /mo
Save

26,624 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 26,624 sqft

Price per Sqft $356

MLS Listing ID 26857999

HOA Y/N No

Year Built 1990

Lot Size 1.670 Acres

Property Description

1429 N. Grove Avenue, a well-maintained 26-unit apartment community in the strong and supply-constrained Ontario rental market. Built in 1990, the property offers a highly desirable, family-oriented unit mix consisting exclusively of three-bedroom, two-bathroom residences, averaging more than 1,000 square feet each, a rare configuration that caters to long-term tenants seeking the functionality and privacy of a single-family home with the convenience of apartment living.Situated on an expansive 72,745 square-foot (1.67-acre) site, the property contains approximately 26,624square feet of improvements and provides residents with an exceptional parking profile: two-car garages for each unit, plus surplus on-site parking. Recent capital improvements materially reduce near-term ownership risk and include new roofs with transferable warranties, individual water heaters, 12 newly installed HVAC units, and new automatic security gates.The asset is positioned for both durable in-place cash flow and continued operational upside. With no local rent control, ownership benefits from greater flexibility to align rents with market conditions while maintaining a tenant base drawn to the property's oversized floor plans, garage parking, central air conditioning, and secure community setting. The offering is being presented at an attractive going-in cap rate in excess of 6.7%, providing investors immediate yield in a Southern California market where comparable newer-vintage, low-density multifamily assets remain difficult to replicate.Ideally located near Ontario Mills, the property offers convenient access to major retail, dining, entertainment, and employment centers. It is also located approximately three miles from OntarioInternational Airport and provides efficient access to the I-10 freeway, connecting residents throughout the Inland Empire and greater Southern California.

Location

State CA

County San Bernardino

Area 686 - Ontario

Rooms

Other Rooms Shed(s)

Interior

Heating Central

Cooling Central Air

Fireplace No

Appliance Dishwasher, Dryer, Washer

Exterior

Parking Features Door-Multi, Garage

Total Parking Spaces 52

Building

Story 2

Entry Level Two

Level or Stories Two

Additional Building Shed(s)

New Construction No

Others

Senior Community No

Tax ID 1047433150000

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Nicholas Hayner Maywood Property Group #02090908

Nearby Locations

Sam Mu

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(949) 258-2228

sammuteam@gmail.com

880 Roosevelt Suite 250, Irvine, California 92620, United States

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1429 N Grove AVE