NOT LISTED FOR SALE

827 N Palmetto Ave Ontario, CA 91762

Downtown Ontario Neighborhood
17 Beds
14 Baths
10,210 Sq Ft
0.29 Acres

Last Sold May 20, 2022

Last sale price $3,500,000 $343 Per Sq Ft

61 Days on Market

Highlights

  • In Ground Pool
  • Built-In Features
  • Laundry Facilities
  • Ground Level Unit
  • 10 Car Garage
  • East Facing Home

About This Home

As of May 2022

A 14 unit apartment complex for sale in the highly desirable rental market of the city of Ontario. The subject property is comprised of an outstanding unit mix consisting of (6) 2-Bed / 1.75 Baths, (1) 2-Bed / 1-Bath, (3) 1-Bed / 1-bath, and (4) Studio / 1-Baths. Tenants enjoy a beautiful swimming pool, common area laundry facility, and garage, carport and open parking. Each unit is separately metered for gas and electricity - owner pays the water and trash. The city of Ontario is located just 35 miles east of Downtown Los Angeles and is home to the Ontario International Airport. Given the high demand for housing and the city's strategic location within close proximity to major employment hubs, the city of Ontario is positioned to remain a strong multi-family rental market for years to come.

Last Agent to Sell the Property

Juan Cardenas

Remax Commercial and Investment Realty License #01233927 Listed on: 03/08/2022

Remax Commercial and Investment Realty

Co-Listed By

Nicholas Petrosian

Remax Commercial and Investment Realty License #01462598

Last Buyer's Agent

Kevin Chiang

License #01741832

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1966

Lot Details

  • 0.29 Acre Lot
  • East Facing Home

Interior Spaces

  • 10,210 Sq Ft Home
  • 2-Story Property
  • Built-In Features
  • Leased Washer and Dryer

Bedrooms and Bathrooms

  • 17 Bedrooms
  • 14 Bathrooms

Parking

  • 10 Car Garage
  • Carport

Pool

  • In Ground Pool
  • Fence Around Pool

Location

  • Ground Level Unit

Utilities

  • Heating System Mounted To A Wall or Window
  • Property is located within a water district
  • Central Water Heater

Listing and Financial Details

  • Tenant pays for gas, electricity
  • The owner pays for water, pool service, gardener
  • Assessor Parcel Number 1010-191-15-0000

Community Details

Overview

  • 2 Buildings
  • 14 Units

Additional Features

  • Laundry Facilities
  • Vacancy Allowance $7,683

Property Details

Home Type

Multi-Family

Year Built

Built in 1966

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Ground Level
  • Additional Assessor Parcel Numbers: No
  • Alley: Yes
  • Entry Location: Ground Level - no steps
  • Living Area: 10210
  • Lot Acreage: 0.2902
  • Probate: No
  • Stories: 2
  • Year Built: 1966
  • Number Of Photos: 5
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Built-Ins
  • Bedrooms: 17
  • Laundry: Community
  • Laundry Equipment: Lease
  • Total Bathrooms: 14.00
  • Equipment: Built-Ins
  • Price Per S Q F T: 342.80

Exterior Features

  • Direction Faces: East
  • Other Structures: None
  • Tennis Court Y/N: No
  • Paved: Yes
  • Pool Description: In Ground, Fenced
  • Pool: Yes
  • Spa Yn: No
  • View: No

Garage/Parking

  • Parking Garage: Carport, Garage
  • Total Parking: 10

Utilities

  • Water Heater: Central Water Heater
  • Heating: Wall Gas
  • Sewer: In Connected and Paid
  • Water: District
  • Water Heaters: Yes

Lot Info

  • Assessed Improvement Percent: 65.00
  • Assessed Improvement Value: 1707508
  • Assessed Land Percent: 35
  • Assessed Land Value: 919428
  • Total Assessed Value: 2626936
  • Assessor Parcel Number: 1010-191-15-0000
  • Lot Size Area: 12640

Rental Info

  • Total Actual Rent: 256092.00
  • Land Lease Type: Fee
  • Owner Pays: Water, Pool Service, Gardener
  • Rent Control: No
  • Tenant Pays: Gas, Electricity

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109
  • Gross Rent Multiplier: 13.70
  • Number Of Units: 14
  • Total Annual Expense: 97126
  • Type Of Units: 14 Units
  • Vacancy Allow: 7683
  • Vacancy Allow Percent: 3.00
  • Vacancy Rate: 7683

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/20/2022 05/20/22 Sold $3,500,000 0.0% $343 / Sq Ft
05/08/2022 05/08/22 Pending -- -- --
03/08/2022 03/08/22 For Sale $3,500,000 +34.6% $343 / Sq Ft
01/17/2020 01/17/20 Sold $2,600,000 0.0% $255 / Sq Ft
11/05/2019 11/05/19 Pending -- -- --
05/31/2019 05/31/19 Off Market $2,600,000 -- --
04/02/2019 04/02/19 For Sale $2,700,000 +72.0% $264 / Sq Ft
05/28/2014 05/28/14 Sold $1,570,000 -3.1% $154 / Sq Ft
02/27/2014 02/27/14 Pending -- -- --
10/29/2013 10/29/13 For Sale $1,620,000 -- $159 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Juan Cardenas

    Seller's Agent in 2022

    Juan Cardenas

    RE/MAX

    (562) 587-5494

    1 in this area

    27 Total Sales

    Juan Cardenas
    Section Image
  • Nicholas Petrosian

    Seller Co-Listing Agent in 2022

    Nicholas Petrosian

    RE/MAX

    (949) 607-7096

    1 in this area

    48 Total Sales

    Nicholas Petrosian
    Section Image

  • K

    Buyer's Agent in 2022

    Kevin Chiang

  • Kristopher German

    Seller's Agent in 2020

    Kristopher German

    RE/MAX

    (909) 645-0443

    3 in this area

    119 Total Sales

    Kristopher German
    Section Image

  • D

    Seller's Agent in 2014

    David Lin

    MARCUS & MILLICHAP

    Section Image
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Map

Source: The MLS

MLS Number: 22-134455

The MLS
California San Bernardino County Ontario 91762 Downtown Ontario

827 N Palmetto Ave, Ontario, CA

This home is located at 827 N Palmetto Ave, Ontario, CA 91762 since 08 March 2022. This property was built in 1966. 827 N Palmetto Ave is a home located in San Bernardino County with nearby schools including Elderberry Elementary, Vernon Middle School, and Chaffey High School.

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