221 North Mountain Avenue

Ontario, CA 91762

$17,995,000
Price
9
Beds
81
Baths
38,925 Sq. Ft.
$462 / Sq. Ft.
38,925
Sq. Ft.
$462
per Sq. Ft.
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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...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).
  1. Listed by ERIC CHEN • DRE #01489184 • Brokerage DRE #00409987 • CB RICHARD ELLIS • 626-757-5717

Property Details for 221 North Mountain Avenue

Parking Spaces Total
73
Private Pool
No
Cooling Type
Central Forced Air
Total Units
39.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
38925
Assessor Parcel Number
1010-521-42-0000
LISTING UPDATED: 11/11/2024 02:49 AM

Property Details for 221 North Mountain Avenue

StatusActive
MLS #CV24230827
Days on Market25
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2024
CountySan Bernardino County

Building Information for 221 North Mountain Avenue

Building/Complex221 N Mountain AveFloor-Stories3Residences-Pet Policy-Year Built2024Building Size-

Property Information for 221 North Mountain Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $1,336,707
  • Gross Scheduled Income: $1,336,707
  • Vacancy Allowance: 40101
  • Gross Operating Income: $1,296,606
  • Net Operating Income: $888,740
  • Gross Multiplier: 13.46
  • Cap Rate: 4.94
Expense Details
  • Operating Expense: $407,866
  • New Taxes Expense: $195,332
  • Gardener Expense: $8,400
  • Pest Control Expense: $1,480
  • Electric Expense: $845
  • Insurance Expense: $26,337
  • Maintenance Expense: $19,500
  • Professional Management Expense: $85,254
  • Other Expense: $7,800
  • Other Expense Description: Reserves
  • Trash Expense: $20,309
  • Water Sewer Expense: $26,993
  • Supplies Expense: $15,508
  • Total Expenses: $407,866
Tax / Assessment Info
  • Tax Tract Number: 20379
  • Tax Census Tract: 001600
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 1
Community / Development
Community / Development
  • Community Features: Curbs, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Dryer Included, Inside, Washer Included
  • Cooling: Central Air
  • Heating Type: Central
  • Heating: Central
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: 36-40 Units/Acre
  • Number Of Units: 39
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Three Or More
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 60
  • Uncovered Spaces: 13
  • Open Other Spaces Total: 13
  • Parking Garage Spaces: 60
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 6
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,437
  • Unit Type Total Rent: $87,720
  • Unit Type Pro Forma: 2680
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 12
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 24
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,401
  • Unit Type Total Rent: $345,720
  • Unit Type Pro Forma: 2641
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 6
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,428
  • Unit Type Total Rent: $87,420
  • Unit Type Pro Forma: 2671
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 8
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 16
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $3,023
  • Unit Type Total Rent: $290,220
  • Unit Type Pro Forma: 3325
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 9
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 18
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $3,007
  • Unit Type Total Rent: $324,780
  • Unit Type Pro Forma: 3308
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 3
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 8
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $3,029
  • Unit Type Total Rent: $145,380
  • Unit Type Pro Forma: 3332
  • Unit Type Type: 6
Unit Information
  • Number Of Units Leased: 37
  • Rent Controlled: Yes
  • Number Of Buildings: 9
  • Number Of Separate Electric Meters: 39
  • Number Of Separate Gas Meters: 39
  • Number Of Separate Water Meters: 39

Property History for 221 North Mountain Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 221 North Mountain Avenue

Taxable ValueLand$849,660Additions-Total$849,660
Tax Record2024$9,289 ($774 / month)
Home Facts
Beds0Total Finished SqFt13,284 SqFtAbove Grade Finished SqFt13,284 SqFtLot Size54,051 SqFtStyleMiscellaneous Vacant LandYear Built1966CountySAN BERNARDINOAPN1010-521-42-0000

Schools near 221 North Mountain Avenue

This home is within Chaffey Joint Union High School District.
Rating
School
Type
Grades
Distance
Kingsley Elementary School
Public - K to 6
Vernon Middle School
Public - 7 to 8
Montclair High School
Public - 9 to 12
Buena Vista Arts-Integrated School
Public - K to 6
Rating
School
Distance
Kingsley Elementary School
PublicK to 6

Vernon Middle School
Public7 to 8

Montclair High School
Public9 to 12

Buena Vista Arts-Integrated School
PublicK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 221 North Mountain Avenue, Ontario, CA 91762

221 North Mountain Avenue is a multi-family home for sale in Ontario, CA 91762. This property was listed for sale on November 8, 2024 by CB RICHARD ELLIS, it's currently listed at $17,995,000. It has been on the market for a total of 25 days and was last sold on August 8, 2022. This listing's school districts are Chaffey Joint Union High School District, Ontario-Montclair School District. Nearby schools include Kingsley Elementary School, Vernon Middle School and Montclair High School. 221 North Mountain Avenue is a 9-bed, 81-bath, 38,925 sqft multi-family home built in 2024.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of CB RICHARD ELLIS, ERIC CHEN, DRE #01489184

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.