827 N Palmetto Avenue, Ontario, CA 91762

About this property

BACK ON MARKET! Current CAP Rate 5.27%! Only 12.1 GRM! We are pleased to exclusively offer for sale this 14 unit multi-family asset in the highly sought after rental community of the city of Ontario. The subject property offers a diverse unit mix comprised of 7 (2 Bed/1.75 Bath)s, 3 (1 Bed/1 Bath)s, and 4 Studio apartments. Tenants enjoy newly renovated onsite sparkling pool, both garage and open space parking, as well as a laundry facility. All units are separately metered for electricity & gas while the owner pays for water and trash. With some modest capital improvement over time, a new investor can take advantage of an ever-increasing housing demand in the area, and the subsequent escalation in rental rates bringing the market cash-on-cash return to over 6%!

Listing description from the January 2020 sale, as reported to CRMLS.

Sale history

$2,600,000

Sold January 2020 · listed $2,625,000, orig. $2,700,000, on market April 2019 · MLS #CV19073285 · Source: CRMLS

Listing Agent: KRISTOPHER GERMAN · Listing Office: RE/MAX 2000 · Contact: 909-948-2988 · Bought with: Juan Cardenas · Remax Commercial and Investmen

$1,570,000

Sold May 2014 · listed $1,590,000, orig. $1,620,000, on market October 2013 · MLS #CV13220149 · Source: CRMLS

Listing Agent: EDWARD PAN · Listing Office: MARCUS & MILLICHAP · Contact: 909-456-3400 · Bought with: EDWARD PAN · MARCUS & MILLICHAP

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