Courtesy: KW VISION
Courtesy: Surterre Properties Inc
Development opportunity with approved plans to build a 49 unit 5 story apartment building with 108 parking spaces. The gross building area is 101,687 SF, the net rentable area is 50,280 SF and the lot size is 69,000 SF. Unit breakdown: 12-1 Bedroom units and 37-2 bedroom units. Excellent Ontario location adjacent to a 75 unit apartment building located at 840 S Magnolia that was built in 2019 and is stabilized at rents similar to the projected rents for this project. Price of the land per unit is $85,714 and price of the land per SF of land is $61 and compares favorably with RTI land sale Comps.The completed projects stabilized value is estimated to be $26,500,000 which is $540,816 per unit and $527 per SF of NRA. The asking price for the land is $4,200,000, roughly 16% of the stabilized value, providing excellent upside to the Buyer/Developer.The property is currently improved with a single family residence that is rented to a tenant. However, the property is being marketed as land for development of a fully entitled 49 unit apartment building which will require demolition of the existing residence. The property will be delivered vacant at the Close of Escrow with permits Ready to Issue. Buyer will be responsible for demolition of the existing SFR after closing and the cost of the building permits. Site also includes APN# 1011-371-15-0000. Total site area is 69,000 SF.Buyer to cooperate with Seller's exchange at no expense to Buyer. Please submit Letters of Interest for consideration and to initiate negotiations.Do not disturb the tenant. Drive by only until a purchase contract has been negotiated.
Courtesy: Harvest Realty Development
• 9-Story, Class A Office Building • Premiere Ontario Airport Submarket Location • Prominent I-10 Freeway Visibility • Built in 1991; Zoning: SP, City of Ontario • Immediate Access to I-10, at Haven Avenue • Close Proximity to I-15 and 60 Freeways • Reserved Parking Available • Full Service Gross Leases • Professionally Managed and Maintained Suite 890 Details: Reception Area, Conference Room, 3 Private Offices, Open Area and Amazing View
Building Features: 5-story, multi-tenant office building. Prime Ontario Airport Submarket location. Freeway visible and immediate access to I-10 at Vineyard Avenue. Built in 1989; +/- 100,525 SF; 3.81 acres land. Close Proximity to I-15 and 60 Freeways. /1,000 Parking; Reserved Parking Available. Card Key Security System; Full Service Gross Leases. Professionally Managed and Maintained Office Features: 4 offices, breakroom, IT room and large open space. Prime 1st floor, corner office suite.
Courtesy: Coldwell Banker Dynasty Arc.
Ontario is located in California. Ontario, California has a population of 175,223. Ontario is less family-centric than the surrounding county with 33.84% of the households containing married families with children. The county average for households married with children is 33.94%.
The median household income in Ontario, California is $71,908. The median household income for the surrounding county is $70,287 compared to the national median of $69,021. The median age of people living in Ontario is 32.6 years.
The average high temperature in July is 91.9 degrees, with an average low temperature in January of 42.6 degrees. The average rainfall is approximately 15.7 inches per year, with 0 inches of snow per year.
