NOT LISTED FOR SALE

404 W Phillips St Ontario, CA 91762

Downtown Ontario Neighborhood

Estimated Value: $873,000 - $1,050,000

6 Beds
3 Baths
2,400 Sq Ft
$402/Sq Ft Est. Value

Last Sold November 27, 2018

Last sale price $613,000 $255 Per Sq Ft

Est. 57% increase in value since last sale

Current estimated payment $5,682/month

75 Days on Market

Highlights

  • No Units Above
  • Laundry Room
  • 3-minute walk to De Anza Park
  • No HOA
  • Level Lot

About This Home

As of November 2018

Location, Location, Location 3 units, single story, multi family complex in the heart of Ontario in a very desireable, family oriented neighborhood. Close to schools, parks, shopping and restaurants. 100% occupied by long time tenants. This is a rare opportunity for investors. Great cash flow

Last Agent to Sell the Property

Randy De Zilwa

Coldwell Banker Tri-Counties R License #01431623 Listed on: 07/07/2018

Coldwell Banker Tri-Counties R

Co-Listed By

Charlene Li

Pinnacle Real Estate Group License #01193057

Last Buyer's Agent

Steve Yang

FIRST TEAM REAL ESTATE License #01889710

FIRST TEAM REAL ESTATE

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,346

Year Built

  • Built in 1955

Lot Details

  • 10,800 Sq Ft Lot
  • No Units Above
  • Two or More Common Walls
  • Level Lot

Home Design

  • 2,400 Sq Ft Home
  • Triplex

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 3 Bathrooms

Additional Features

  • Laundry Room
  • Exterior Lighting

Listing and Financial Details

  • Tax Lot 172
  • Tax Tract Number 7
  • Assessor Parcel Number 1049551300000

Community Details

Overview

  • No Home Owners Association
  • 3 Units

Building Details

  • 3 Leased Units
  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $1,000
  • Maintenance Expense $1,200
  • Water Sewer Expense $1,800
  • New Taxes Expense $7,500
  • Operating Expense $11,500
  • Gross Income $36,000
  • Net Operating Income $22,700

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,346

Year Built

Built in 1955

Lot Details

0

Listing Details

  • Property Attached: Yes
  • Water Sewer Expenses: 1800.00
  • Property Sub Type: Triplex
  • Property Type: Residential Income
  • Parcel Number: 1049551300000
  • Year Built: 1955
  • Special Features: None

Interior Features

  • Common Walls: 2+ Common Walls, No One Above
  • Levels: One
  • Price Per Square Foot: 255.42

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street
  • Lot Size Sq Ft: 10800.00
  • Lot Size Acres: 0.2479

Multi Family

  • Average2 Bed Area: 800 Square Feet
  • Gross Income: 36000.00
  • Gross Operating Income: 34200.00
  • Gross Scheduled Income: 36000.00
  • Insurance Expense: 1000.00
  • Lot Size Area: 10800.0000 Square Feet
  • Maintenance Expense: 1200.00
  • Net Operating Income: 22700.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 3
  • Number Of Units Total: 3
  • Operating Expense: 11500.00
  • Rent Control: No
  • Total Actual Rent: 3000.00
  • Total Expenses: 11500.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 7500.00
  • Tax Lot: 172
  • Tax Tract Number: 07

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 20, 2018
Sold by
Wickremesinghe Lakshman and Wickremesinghe Chrisanthie
Bought by
Chen Yamin Xie and The Yamin Xie Revocable Living
Current Estimated Value
$963,934

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$429,100
Interest Rate
4.9%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 20, 1999
Sold by
Wickremesinghe Lakshman
Bought by
Chrisanthi Wickremesinghe Laksman and Chrisanthi Wickremesimghe

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$112,000
Interest Rate
7.64%
Source: Public Records

Range of Values:

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Average Value
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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
Chen Yamin Xie $613,000 Wfg Title Company Of Califor
Chrisanthi Wickremesinghe Laksman -- American Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Chen Yamin Xie $429,100
Previous Owner Chrisanthi Wickremesinghe Laksman $112,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/27/2018 11/27/18 Sold $613,000 -1.9% $255 / Sq Ft
09/20/2018 09/20/18 Pending -- -- --
08/13/2018 08/13/18 For Sale $625,000 0.0% $260 / Sq Ft
07/12/2018 07/12/18 Pending -- -- --
07/07/2018 07/07/18 For Sale $625,000 -- $260 / 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 $7,346 $683,812 $239,836 $443,976
2024 $7,346 $670,404 $235,133 $435,271
2023 $7,140 $657,259 $230,523 $426,736
2022 $7,045 $644,372 $226,003 $418,369
2021 $7,002 $631,738 $221,572 $410,166
2020 $6,879 $625,260 $219,300 $405,960
2019 $6,820 $613,000 $215,000 $398,000
2018 $3,062 $243,144 $81,048 $162,096
2017 $2,748 $238,377 $79,459 $158,918
2016 $2,860 $233,703 $77,901 $155,802
2015 $2,519 $230,193 $76,731 $153,462
2014 $2,440 $225,684 $75,228 $150,456
Source: Public Records

Agents Affiliated with this Home

  • Randy De Zilwa

    Seller's Agent in 2018

    Randy De Zilwa

    Coldwell Banker Tri-Counties R

    (909) 374-0895

    16 Total Sales

    Randy De Zilwa
    Section Image

  • C

    Seller Co-Listing Agent in 2018

    Charlene Li

    Pinnacle Real Estate Group

    (626) 888-9808

    10 Total Sales

    Charlene Li
    Section Image
  • Steve Yang

    Buyer's Agent in 2018

    Steve Yang

    FIRST TEAM REAL ESTATE

    (626) 636-6800

    1 in this area

    92 Total Sales

    Steve Yang
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: TR18163647

California Regional Multiple Listing Service (CRMLS)

APN: 1049-551-30

California San Bernardino County Ontario 91762 Downtown Ontario

404 W Phillips St, Ontario, CA

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