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716 W Phillips Street

Ontario, CA 91762

– beds
– baths
– sqft
~1 acre lot
1984 build
– on site

Seller Carry Financing Available, Call Listing Agent for Details. 716 W Phillips St, is a 15-townhome condominium community located in the City of Ontario. The property exceeds standard size with over 17,000 SF and spans across nearly 48,000 SF of land. 716 W Phillips St has an exceptional location. Tenants enjoy convenient access to several big-name retailers like In-N-Out, Target, Home Depot, Sams Club, Kaiser Permanente Medical Center, Harbor Freight, 24-Hour Fitness, and much more. Some local attractions within a 10-mile radius include Victoria Gardens, Top Golf, Toyota Arena, Claremont Village, and more. The property is also located within a 25-mile radius of several notable So Cal attractions in San Gabriel Valley, Anaheim and Riverside. Tenants also enjoy a short 1.4-mile drive to either the10 or 60 Freeway, granting access to Los Angels, Orange, and Riverside Counties. 716 W Phillips St offers a stellar unit mix of 100% 2-Bedroom/2.5-Bathroom townhomes. Each unit boasts a huge town-house style floorplan with nearly 1,200 SF each and is individually parceled. A new owner will benefit from this by having the option to keep as a bulk rental forever, sell off individually at once, or piece by piece throughout ownership. Each unit comes with built-in laundry appliances, patios & balconies, and access to individual 2-car garages. The nearly 48,000 SF lot gives ample space to tenants with large yards, community/open-garden space, and uncovered on-site parking. A savvy investor may be able to create future development opportunities since the buildings only occupy only 35% of the total lot (buyer to investigate). Currently the property has the ability to generate approximately $31,926 in monthly rental income. Similar leased townhomes in the area achieved an effective rent of $2,600, allowing a new investor to capitalize on nearly 20% upside in rental income. Additional income at the property streams from a recently implemented utility reimbursement program – tenants currently split the cost of major expenses like water and trash evenly.

Listed By CRMLS_CA / ERIC CHEN / CB RICHARD ELLIS / 626-757-5717

Last checked: Checking… • Last updated Dec 3, 2024 •

MLS# CV24215151 —

The Building

Year Built:

1984
Year Built Source:

Assessor
New Construction:

No
Building Area Total:

17070.00
Building Area Units:

Square Feet
Total Number Of Units:

15
# of Buildings:

5
Stories Total:

2
Entry Level:

1
Common Walls:

2+ Common Walls
# of Separate Gas Meters:

1
# of Separate Water Meters:

1
# of Separate Electric Meters:

1

Interior

Levels:

Two
Entry Location:

1
Laundry:

Dryer Included, Inside, Washer Included
Laundry:

1

Location

Directions:

Merge onto I-10W, Take exit 55B toward Archibald Ave/Ontario Int'l Airport, Turn right onto E Airport Dr, Turn right onto Mission Blvd, Turn left onto Euclid Ave, Turn right onto Phillips St
Latitude:

34.04989000
Longitude:

-117.66139900

The Property

Property Type:

Residential Income
Subtype:

Apartment
Lot Features:

11-15 Units/Acre
Lot Size Area:

47916.0000
Lot Size Acres:

1.1000
Lot Size SqFt:

47916.00
Lot Size Source:

Assessor
Property Attached:

1
Additional Parcels:

No
Additional Parcels Description:

-56,-57,-58,-59,-60,-61,-62,-63,-64,-65,-66,-67,-68,-69
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Block:

1
Tax Census Tract:

17.06
Tax Tract:

10678
Tax Lot:

1

The Listing

Special Listing Conditions:

Standard
Parcel Number:

1049583550000

Heating & Cooling

Heating:

1
Heating:

Central
Cooling:

Yes
Cooling:

Central Air

Utilities

Sewer:

Public Sewer
Water Source:

Public

The Community

Features:

Curbs, Sidewalks
Pool:

None
Senior Community:

No
Private Pool:

No
Spa Features:

None

Parking

Parking Spaces:

15.00
Garage Spaces:

15.00

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Max Internet Speed

Frontier

Provided by BroadbandNow®

Sale history

Date	Event	Source	Price	% Change
11/24/24 Nov 24, 2024	Price Changed	CRMLS_CA	$6,000,000	-4.8%
10/16/24 Oct 16, 2024	Listed / Active	CRMLS_CA	$6,300,000
5/31/23 May 31, 2023	Listed / Active	CRMLS_CA

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Similar sold homes

This multifamily located in Ontario, CA 91762 is currently for sale for $6,000,000. 716 W Phillips Street is a – square foot multifamily with – beds and – baths that has been on Estately for 67 days. This multifamily is in the attendance area of Ontario High School, Vista Grande Elementary School, and Oaks Middle School.

Listing Courtesy of: CRMLS_CA and CB RICHARD ELLIS. Based on information from California Regional Multiple Listing Service, Inc. as of 09:11 on Dec 22.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.