NOT LISTED FOR SALE

1222 S Palm Ave Ontario, CA 91762

Downtown Ontario Neighborhood

Estimated Value: $762,488 - $929,000

3 Beds
2 Baths
1,368 Sq Ft
$626/Sq Ft Est. Value

Last Sold January 28, 2022

Last sale price $700,000 $512 Per Sq Ft

Est. 22% increase in value since last sale

Current estimated payment $5,168/month

21 Days on Market

Highlights

  • No HOA
  • Laundry Room
  • 1-Story Property

About This Home

As of January 2022

GREAT OPPORTUNIY >>>>>>>>>..TO POSSIBLY BUILD ADDITIONAL DWELLING UNIT DUE TO SIZE OF LARGE LOT
ONTARIO DUPLEX BUILT IN 1958 SITTING ON A 8,400 LOT CONSISTS OF TWO SEPERATE UNITS COMBINED
APPROXIMATE 1,368 SQUARE FT .ONE UNIT IN FRONT AND SECOND UNIT IN THE BACK .
LARGE FRONT YARD WITH A GATE . TWO CAR ENCLOSED GARAGE FOR EACH UNIT. RV PARKING ON THE SIDE YARD.RECENTLY ADDED NEWER KITCHEN, BATHROOM, ROOF FOR BOTH UNITS,WATER FILTERS IN BOTH KITCHEN, TWO ALARM SYSTEM INSTALLED WITH 3 MONITORS IN FRONT AND BACK UNIT. EACH UNIT HAS ITS SEPERATED OWN LAUNDRY ROOM AREA FRONT UNIT LAUNDRY IN GARAGE, BACK UNIT LAUNDRY IN SEPERATED ROOM CLOSE TO KITCHEN AREA. TITLE FLOORING . WINDOW CURTAIN COVER. LANDSCAPING IN FRONT AND BACK YARD. CONCRETE ALL OVER AROUND BOTH UNITS. BETWEEN BOTH UNIT HAS CHAIN FENCE SEPERATELY FOR BOTH IN AND OUT THAT KEEP PRIVATE YARD FOR ENTER DIRECTLY. BOTH UNITS ARE CURRENTLY RENTED.LOCATED CLOSE TO PARK, SCHOOL AND FREEWAYS

Last Agent to Sell the Property

DIANE DIVINITY

KELLER WILLIAMS PREMIER PROPERTIES License #01783811 Listed on: 12/14/2021

KELLER WILLIAMS PREMIER PROPERTIES

Last Buyer's Agent

Filiberto Olazabal

RE/MAX MASTERS REALTY License #01368493

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,970

Year Built

  • Built in 1958

Lot Details

  • 8,400 Sq Ft Lot
  • 1 Common Wall
  • Density is 2-5 Units/Acre

Parking

  • 2 Car Garage

Home Design

  • Duplex

Interior Spaces

  • 1,368 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room
  • Washer Hookup

Listing and Financial Details

  • Tenant pays for trash collection, water
  • Legal Lot and Block 173 / 173
  • Tax Tract Number 4000
  • Assessor Parcel Number 1049551240000
  • $362 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 2 Units

Building Details

  • 2 Leased Units
  • 2 Separate Electric Meters
  • 2 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $1,500
  • Trash Expense $1,200
  • Water Sewer Expense $2,400
  • New Taxes Expense $11,866
  • Operating Expense $17,500
  • Gross Income $34,200
  • Net Operating Income $26,545

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,970

Year Built

Built in 1958

Lot Details

0

Parking

2

Listing Details

  • Assessments: No
  • Property Attached: Yes
  • Water Sewer Expenses: 2400.00
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Parcel Number: 1049551240000
  • Year Built: 1958
  • Special Features: None

Interior Features

  • Stories: 1
  • Common Walls: 1 Common Wall
  • Levels: One
  • Price Per Square Foot: 511.70

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 2.00
  • Total Parking Spaces: 2.00

Utilities

  • Laundry: Yes
  • Laundry Features: Washer Hookup
  • Sewer: Public Sewer
  • Trash Expense: 1200.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 8400.00
  • Lot Size Acres: 0.1928

Rental Info

  • Tenant Pays: Trash Collection, Water

Multi Family

  • Gross Income: 34200.00
  • Gross Scheduled Income: 34200.00
  • Insurance Expense: 1500.00
  • Lot Size Area: 8400.0000 Square Feet
  • Net Operating Income: 26545.00
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 2
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 2
  • Number Of Units Total: 2
  • Operating Expense: 7655.00
  • Rent Control: No
  • Total Actual Rent: 2950.00
  • Total Expenses: 17500.00

Tax Info

  • New Taxes Expense: 11866.00
  • Tax Block: 173
  • Tax Census Tract: 17.06
  • Tax Lot: 173
  • Tax Tract Number: 4000
  • TaxOtherAnnualAssessmentAmount: 362.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 13, 2021
Closed on
Jul 29, 2021
Sold by
Wang Margaret
Bought by
Wilson Stephanie A
Seller's Agent
Margaret Wang
Pinnacle Real Estate Group
Buyer's Agent
gigi ray
CLASSIC REAL ESTATE INVESTMENT
List Price
$698,000
Sold Price
$680,000
Premium/Discount to List
-$18,000
-2.58%
Current Estimated Value
$856,122

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$176,122
Avg. Annual Appreciation
5.69%
Original Mortgage
$510,000
Outstanding Balance
$463,049
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$393,073

Purchase Details

Closed on
Jul 25, 2016
Sold by
Augustine Mary Anne
Bought by
Wang Margaret

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$268,000
Interest Rate
3.43%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Wilson Stephanie A $680,000 Stewart Title Of Ca Inc
Wang Margaret $335,000 Orange Coast Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Wilson Stephanie A $510,000
Previous Owner Wang Margaret $268,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
01/28/2022 01/28/22 Sold $700,000 +2.9% $512 / Sq Ft
01/04/2022 01/04/22 Pending -- -- --
12/14/2021 12/14/21 For Sale $680,000 0.0% $497 / Sq Ft
08/30/2021 08/30/21 Sold $680,000 -2.6% $497 / Sq Ft View Prior Sale
08/24/2021 08/24/21 For Sale $698,000 +2.6% $510 / Sq Ft
08/24/2021 08/24/21 Off Market $680,000 -- --
07/21/2021 07/21/21 Pending -- -- --
05/03/2021 05/03/21 For Sale $698,000 +2.6% $510 / Sq Ft
04/24/2021 04/24/21 Off Market $680,000 -- --
04/13/2021 04/13/21 For Sale $698,000 +108.4% $510 / Sq Ft
09/28/2016 09/28/16 Sold $335,000 +11.9% $236 / Sq Ft View Prior Sale
07/08/2016 07/08/16 Pending -- -- --
07/01/2016 07/01/16 For Sale $299,500 -- $211 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $7,970 $742,846 $222,854 $519,992
2024 $7,970 $728,280 $218,484 $509,796
2023 $7,746 $714,000 $214,200 $499,800
2022 $7,426 $680,000 $200,000 $480,000
2021 $3,987 $359,188 $134,025 $225,163
2020 $3,917 $355,505 $132,651 $222,854
2019 $3,883 $348,534 $130,050 $218,484
2018 $4,046 $341,700 $127,500 $214,200
2017 $3,692 $335,000 $125,000 $210,000
2016 $477 $42,455 $9,748 $32,707
2015 $473 $41,818 $9,602 $32,216
2014 $459 $40,999 $9,414 $31,585
Source: Public Records

Agents Affiliated with this Home

  • DIANE DIVINITY

    Seller's Agent in 2022

    DIANE DIVINITY

    KELLER WILLIAMS PREMIER PROPERTIES

    (909) 239-4411

    1 in this area

    18 Total Sales

    DIANE DIVINITY
    Section Image

  • F

    Buyer's Agent in 2022

    Filiberto Olazabal

    RE/MAX

    (909) 225-0072

    2 in this area

    12 Total Sales

    Filiberto Olazabal
    Section Image

  • M

    Seller's Agent in 2021

    Margaret Wang

    Pinnacle Real Estate Group

    (626) 864-5688

    1 in this area

    13 Total Sales

    Margaret Wang
    Section Image
  • gigi ray

    Buyer's Agent in 2021

    gigi ray

    CLASSIC REAL ESTATE INVESTMENT

    (909) 904-9088

    1 in this area

    23 Total Sales

    gigi ray
    Section Image

  • V

    Seller's Agent in 2016

    Vonn Vasquez

    Excel Realty

    (562) 889-0698

    14 Total Sales

    Vonn Vasquez
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: IV21239583

California Regional Multiple Listing Service (CRMLS)

APN: 1049-551-24

California San Bernardino County Ontario 91762 Downtown Ontario

1222 S Palm Ave, Ontario, CA

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