NOT LISTED FOR SALE

721 Corvette Dr Ontario, CA 91764

Ontario Area
10 Beds
7 Baths
4,165 Sq Ft
10,374 Sq Ft Lot

Sale Details

Date Sold: April 13, 2026

Last sale price $1,372,000 $329 Per Sq Ft

6 Days on Market

Highlights

  • 8 Car Garage
  • Laundry Facilities
  • Level Lot

About This Home

As of April 2026

****1 of 3 Property Portfolio: 3241 Inland Empire Blvd, 3132 Triumph Lane****
pleased to exclusively present the opportunity to acquire a well-maintained, townhome-style multifamily investment property located at 721 North
Corvette Drive in Ontario, CA, one of the Inland Empire’s most dynamic and rapidly growing rental markets. Constructed in 1987, this two-story, single-building asset comprises four units situated on a 0.24-acre parcel and has 4,165 square feet of rentable living area.
The property features an attractive unit mix that includes 1- two-bedroom/one-bathroom townhome; 1- two-bedroom/one-and-one-half-bathroom townhome and 2- three-bedroom/one-and-one-half-bathroom townhomes. Each unit is equipped with central air conditioning and heating, in-unit washer and dryer hook-ups, dishwashers, individual hot water heaters, and separate gas and electric metering. The property benefits from copper plumbing, pitched tile roof, and select units offer a fireplace, and private patios or balconies. Parking is ample and secure with attached garages consisting of two double-car garages, two single-car garages, and four additional open spaces. The asset is also eligible for attractive 30-year fixed-rate financing and there is no HOA.
Ontario is widely regarded as one of the most compelling multifamily investment markets in the Inland Empire, driven by sustained population growth, robust job creation, and relative affordability compared to coastal Southern California markets. The city offers exceptional regional connectivity via Interstates 10, 15, and 60, as well as close proximity to Ontario International Airport, a major logistics and transportation hub. Ontario’s diverse employment base is anchored by logistics and distribution, healthcare, education, manufacturing, and public-sector employment, providing a stable and expanding tenant base.
In addition, Ontario’s quality-of-life amenities continue to strengthen its live-work-play appeal. Major attractions such as Ontario Mills, along with ongoing sports, entertainment, and mixed-use development throughout the city, further enhance rental demand and long-term market fundamentals.
This offering represents an excellent opportunity to acquire a well-located, townhome-style apartment property with desirable unit features, strong tenant appeal, and long-term upside in one of the Inland Empire’s most resilient and affordable rental markets.

Last Agent to Sell the Property

Douglas McCauley

MARCUS & MILLICHAP Brokerage Phone: 626-695-6776 Listed on: 01/22/2026

Co-Listed By

David Covarrubias

MARCUS & MILLICHAP Brokerage Phone: 626-695-6776

Last Buyer's Agent

Bill Melton

PAEZ REALTY COMPANY License #01342816

Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1987

Lot Details

  • 10,374 Sq Ft Lot
  • Two or More Common Walls
  • Level Lot

Parking

  • 8 Car Garage
  • 4 Open Parking Spaces
  • Parking Available

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 4,165 Sq Ft Home
  • 2-Story Property
  • Washer and Electric Dryer Hookup

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 7 Bathrooms

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Tenant pays for gas, electricity
  • Tax Lot 9
  • Tax Tract Number 13217
  • Assessor Parcel Number 0210411280000
  • $454 per year additional tax assessments

Community Details

Building Details

  • Rent Control
  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $726
  • Gardener Expense $1,440
  • Insurance Expense $2,800
  • Maintenance Expense $3,162
  • Pest Control $720
  • Water Sewer Expense $6,744
  • New Taxes Expense $15,681
  • Operating Expense $31,273
  • Gross Income $31,273
  • Net Operating Income $59,079

Additional Features

  • 4 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1987

Lot Details

10,374 Sq Ft Lot

Parking

8

Listing Details

  • CapRate: 4.01
  • Property Attached: Yes
  • Water Sewer Expenses: 6744.00
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 1440.00
  • Parcel Number: 0210411280000
  • Year Built: 1987
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Price Per Square Foot: 329.41

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 8.00
  • Parking: Yes
  • Parking Features: Garage, On Site
  • Total Parking Spaces: 12.00
  • Uncovered Spaces: 4.00

Utilities

  • Laundry: Yes
  • Laundry Features: Electric Dryer Hookup, Washer Hookup, Common Area
  • Pest Control Expense: 720.00
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Street Lights, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level with Street
  • Lot Size Sq Ft: 10374.00
  • Lot Size Acres: 0.2382

Rental Info

  • Tenant Pays: Gas, Electricity

Multi Family

  • Electric Expense: 726.00
  • Gross Income: 31273.00
  • Gross Scheduled Income: 90300.00
  • Insurance Expense: 2800.00
  • Lot Size Area: 10374.0000 Square Feet
  • Maintenance Expense: 3162.00
  • Net Operating Income: 59079.00
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Number With Dishwasher: 4
  • Operating Expense: 31273.00
  • Other Income1: 955.00
  • Other Income Description: Late Fee Income
  • Rent Control: Yes
  • Total Expenses: 31273.00
  • Vacancy Allowance Rate: 1.00

Tax Info

  • New Taxes Expense: 15681.00
  • Tax Lot: 9
  • Tax Tract Number: 13217
  • TaxOtherAnnualAssessmentAmount: 454.00

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 22, 2026
Closed on
Feb 13, 2026
Sold by
Blake Mcrae and William G And Megan Mcrae Slagg Living T
Bought by
Seller's Agent
Douglas McCauley
MARCUS & MILLICHAP
Buyer's Agent
Bill Melton
PAEZ REALTY COMPANY
List Price
$1,475,000
Sold Price
$1,372,000
Premium/Discount to List
-$103,000
-6.98%
Views
18

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,211,250
Interest Rate
5.98%
Mortgage Type
Construction

Purchase Details

Closed on
May 2, 2007
Sold by
Webb James C and Wilson Diane C
Bought by
Slagg William G and Slagg Megan Mc Rae

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$480,000
Interest Rate
7.62%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Jun 1, 2006
Sold by
Slagg Betty E R
Bought by
Scrimger James E

Purchase Details

Closed on
Feb 13, 2006
Sold by
Webb James C
Bought by
Webb James C and Wilson Diane C

Purchase Details

Closed on
Oct 5, 2005
Sold by
Wilson Diane C
Bought by
Webb James C and Wilson Diane C

Purchase Details

Closed on
Jan 21, 2005
Sold by
Scrimger Vicki E
Bought by
Scrimger James E and Scrimger Vicki E

Purchase Details

Closed on
Jan 5, 2005
Sold by
Slagg Betty E R
Bought by
Scrimger Vicki E

Purchase Details

Closed on
Dec 31, 2004
Sold by
Slagg Betty E R
Bought by
Slagg William G

Purchase Details

Closed on
Aug 6, 2004
Sold by
Slagg Betty E
Bought by
Slagg Slagg Betty E Betty E and Slagg William R

Purchase Details

Closed on
Jul 27, 2004
Sold by
Slagg William G
Bought by
Slagg William G and Slagg Megan Mc Rae

Purchase Details

Closed on
May 22, 2003
Sold by
Mcrae Megan
Bought by
Slagg William G

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$296,000
Interest Rate
4.49%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$1,425,000 Chicago Title
Slagg William G $74,000 First American Title
Slagg William G $74,000 First American Title
Scrimger James E -- None Available
Webb James C -- None Available
Webb James C -- None Available
Scrimger James E -- --
Scrimger James E -- --
Slagg William G -- --
Slagg William G -- --
Scrimger Vicki E -- --
Scrimger James E -- --
Wilson Diane C -- --
Webb James C -- --
Slagg William G -- --
Slagg Megan Mc Rae -- --
Slagg William G -- --
Slagg Megan Mcrae -- --
Wilson Diane C -- --
Webb James C -- --
Scrimger James E -- --
Scrimger Vickie E -- --
Slagg Slagg Betty E Betty E -- --
Slagg William G -- --
Slagg William G -- Landsafe
Slagg Betty E $474,000 Landsafe
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Previous Owner $1,211,250
Previous Owner Slagg William G $480,000
Previous Owner Slagg Betty E $296,000
Previous Owner Mosher Lyle Carter $225,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
04/13/2026 04/13/26 Sold $1,372,000 -7.0% $329 / Sq Ft
01/28/2026 01/28/26 Pending -- -- --
01/22/2026 01/22/26 For Sale $1,475,000 -- $354 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2026 $9,144 $1,453,500 $510,000 $943,500
2025 $9,144 $806,546 $200,865 $605,681
2024 $8,361 $790,731 $196,926 $593,805
2023 $8,168 $775,227 $193,065 $582,162
2022 $8,018 $760,026 $189,279 $570,747
2021 $7,948 $745,124 $185,568 $559,556
2020 $7,803 $737,483 $183,665 $553,818
2019 $7,773 $723,023 $180,064 $542,959
2018 $7,577 $708,846 $176,533 $532,313
2017 $7,298 $694,947 $173,072 $521,875
2016 $7,202 $681,320 $169,678 $511,642
2015 $7,152 $671,086 $167,129 $503,957
2014 $6,934 $657,940 $163,855 $494,085
Source: Public Records

Agents Affiliated with this Home

  • Section Image
  • Section Image
  • Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV26015948

California Regional Multiple Listing Service (CRMLS)

APN: 0210-411-28

Your Personal Tour Guide

Ask me questions while you tour the home.