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221 N Mountain Avenue

Ontario, CA 91762
  • $17,995,000
  • STATUS: Active Under Contract
  • ON SITE: 69 Days
  • MLS #: CV24230827
Under Contract
$17,995,000
  • 0
    BEDS
  • 1.27
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
2024
County:

School Ratings & Info

Listing Agent(s): Eric Chen of CB RICHARD ELLIS (909-418-2000)


Description

We are proud to present for sale, The Willow Luxury Townhomes (The Willow), a brand-new construction trophy asset located at 221 North Mountain Avenue in the desirable west region of the Inland Empire.The Willow is situated on the west side of North Mountain Avenue between West D Street and West Stoneridge Court in the city of Ontario, California. Ontario is a high-demand rental market, one of the fastest growing cities within the Inland Empire, and the economic heart of the region. Tenants at The Willow will benefit from unparalleled convenience and accessibility to major retailers like Walmart, Costco, Target, Stater Brothers, Cardenas and a variety of restaurants, malls, parks, banks, and fitness centers nearby. Additionally, within close-proximity are essential services like Ontario International Airport, Kaiser Permanente Medical Center and Pomona Valley Hospital Medical Center. Also, within a 10-mile radius, are popular attractions like Ontario Mills, Montclair Plaza, Victoria Gardens, Top Golf, Toyota Arena, and Claremont Village. Lastly, the property is centrally located with convenient access to the 10, 60, 57, 71, 210 and 15 freeways connecting to all the Inland Empire, Los Angeles County, Orange County, and beyond.The Willow Luxury Townhomes consists of 39 tri-level townhouse style residential units. The property is a green building and finished construction in June 2024. It features eighteen, one-bedroom/one-bathroom + loft townhomes and 21, two-bedroom/two-and-one-half-bathroom townhomes with an average unit size of 998 square feet. Unit amenities feature private attached garages with Bluetooth access, EV Charging accessible, modern waterproof plank flooring, in-unit washer & dryer, stainless steel appliance package, hardwood cabinetry, quartz countertops, recessed lighting, central air-conditioning & heating, and private balconies. The well-maintained property also features controlled gated access at alleyway, professional management, a shared picnic area with BBQ grilling stations, built-in yard games, paid-for solar panels, and is a cozy community atmosphere.The property is a great long-term investment opportunity boasting non-rent-controlled units, minimal maintenance, and tenant paid utilities (each unit is individually metered for electric and gas and has a sub-meter for water and sewer. Tenants also pay for their own trash bins).

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Based on information from California Regional Multiple Listing Service, Inc. as of 2025-01-17T00:30:05.24. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.
www.theziagroup.com/homes/157699354
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221 N Mountain Avenue Ontario, CA 91762

  • Price: $17,995,000
  • Status: Active Under Contract
  • On Site: 69 Days
  • MLS #: CV24230827
0
Beds
0
Baths
0
½ Baths
1.27
Acres
2024
Built
Neighborhood:
686 - Ontario
County:
San Bernardino
Area:
686 - Ontario
Property Description
We are proud to present for sale, The Willow Luxury Townhomes (The Willow), a brand-new construction trophy asset located at 221 North Mountain Avenue in the desirable west region of the Inland Empire.The Willow is situated on the west side of North Mountain Avenue between West D Street and West Stoneridge Court in the city of Ontario, California. Ontario is a high-demand rental market, one of the fastest growing cities within the Inland Empire, and the economic heart of the region. Tenants at The Willow will benefit from unparalleled convenience and accessibility to major retailers like Walmart, Costco, Target, Stater Brothers, Cardenas and a variety of restaurants, malls, parks, banks, and fitness centers nearby. Additionally, within close-proximity are essential services like Ontario International Airport, Kaiser Permanente Medical Center and Pomona Valley Hospital Medical Center. Also, within a 10-mile radius, are popular attractions like Ontario Mills, Montclair Plaza, Victoria Gardens, Top Golf, Toyota Arena, and Claremont Village. Lastly, the property is centrally located with convenient access to the 10, 60, 57, 71, 210 and 15 freeways connecting to all the Inland Empire, Los Angeles County, Orange County, and beyond.The Willow Luxury Townhomes consists of 39 tri-level townhouse style residential units. The property is a green building and finished construction in June 2024. It features eighteen, one-bedroom/one-bathroom + loft townhomes and 21, two-bedroom/two-and-one-half-bathroom townhomes with an average unit size of 998 square feet. Unit amenities feature private attached garages with Bluetooth access, EV Charging accessible, modern waterproof plank flooring, in-unit washer & dryer, stainless steel appliance package, hardwood cabinetry, quartz countertops, recessed lighting, central air-conditioning & heating, and private balconies. The well-maintained property also features controlled gated access at alleyway, professional management, a shared picnic area with BBQ grilling stations, built-in yard games, paid-for solar panels, and is a cozy community atmosphere.The property is a great long-term investment opportunity boasting non-rent-controlled units, minimal maintenance, and tenant paid utilities (each unit is individually metered for electric and gas and has a sub-meter for water and sewer. Tenants also pay for their own trash bins).
Exterior Features

Entry Level 1 Entry Location 1 Lot Features 36-40 Units/Acre Number Of Separate Electric Meters 39 Open Parking Spaces 13 Parking Total 73 Pool Features None Pool Private YN No Property Attached YN Yes Spa Features None Spa YN No

Interior Features

Appliances DryerWasher Common Walls 2+ Common Walls Cooling Central Air Cooling YN Yes Heating Central Heating YN Yes

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 4.94 Common Interest Community Apartment Community Features CurbsSidewalks Electric Expense 845 Garage YN Yes Gross Income 1336707 Gross Scheduled Income 1336707 Insurance Expense 26337 Land Lease YN No Laundry Features Inside Levels Three Or More Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan Maintenance Expense 19500 Net Operating Income 888740 New Construction YN Yes New Taxes Expense 195332 Number Of Separate Gas Meters 39 Number Of Separate Water Meters 39 Number Of Units Leased 37 Operating Expense 407866 Other Expense 7800 Pest Control Expense 1480 Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Supplies Expense 15508 Total Actual Rent 1281240 Trash Expense 20309 Vacancy Allowance 40101 Water Sewer Expense 26993 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2025-01-17T00:30:05.24. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.
 
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The Zia Group | eXp Realty
10 E Yanonali St #11
Santa Barbara CA, 93101
Listing Agent(s): Eric Chen of CB RICHARD ELLIS (909-418-2000)