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$1,195,000
Est. payment /mo
7 Beds
4 Baths
2,340 SqFt
UPDATED:
12/05/2024 02:03 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,340 sqft
Price per Sqft $510
MLS Listing ID 24462645
Bedrooms 7
HOA Y/N No
Year Built 1938
Lot Size 6,499 Sqft
Property Description
We are pleased to present 12785 Monte Vista Avenue, a rare 4-unit multifamily property located in the desirable city of Chino, California. The property features an ideal unit mix of three 2-bedroom/1-bath units and one 1-bedroom/1-bath unit, totaling 2,340 square feet of living space. All units are single-story and situated in a quiet residential neighborhood, offering a peaceful living environment for tenants. The property sits on a 6,500-square-foot corner lot, consisting of two duplexes, each with garage parking and additional open parking spaces. All units are separately metered for gas and electricity, helping reduce operating expenses for the owner. Currently operating at a 5.04% cap rate, the property has 27.4% upside in rents, with market rents supporting a 7.01% pro forma cap rate. This investment is positioned in a highly supply-constrained market, with only two comparable 2-4 unit properties sold this year and fewer than 50 fourplexes in the entire city. Opportunities to acquire multifamily assets in Chino are limited, which ensures strong long-term value retention for investors. The property offers excellent access to major transportation routes, including the 60 and 71 Freeways, providing direct connections to Ontario International Airport, Chino Hills Shopping Center, and key employment centers across the Inland Empire. Residents also benefit from nearby local shops, restaurants, and entertainment options, making this an attractive location for long-term tenants seeking both convenience and comfort.
Location
State CA
County San Bernardino
Area 681 - Chino
Interior
Fireplace No
Exterior
Total Parking Spaces 4
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 1015641020000
Special Listing Condition Standard
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Listed by Oscar Diaz • Marcus & Millichap