Property Search
716 W Phillips StreetOntario, CA 91762
Due to the health concerns created by Coronavirus we are offering personal 1-1 online video walkthough tours where possible.
Seller Carry Financing Available, Call Listing Agent for Details. 716 W Phillips St, is a 15-townhome condominium community located in the City of Ontario. The property exceeds standard size with over 17,000 SF and spans across nearly 48,000 SF of land. 716 W Phillips St has an exceptional location. Tenants enjoy convenient access to several big-name retailers like In-N-Out, Target, Home Depot, Sams Club, Kaiser Permanente Medical Center, Harbor Freight, 24-Hour Fitness, and much more. Some local attractions within a 10-mile radius include Victoria Gardens, Top Golf, Toyota Arena, Claremont Village, and more. The property is also located within a 25-mile radius of several notable So Cal attractions in San Gabriel Valley, Anaheim and Riverside. Tenants also enjoy a short 1.4-mile drive to either the10 or 60 Freeway, granting access to Los Angels, Orange, and Riverside Counties. 716 W Phillips St offers a stellar unit mix of 100% 2-Bedroom/2.5-Bathroom townhomes. Each unit boasts a huge town-house style floorplan with nearly 1,200 SF each and is individually parceled. A new owner will benefit from this by having the option to keep as a bulk rental forever, sell off individually at once, or piece by piece throughout ownership. Each unit comes with built-in laundry appliances, patios & balconies, and access to individual 2-car garages. The nearly 48,000 SF lot gives ample space to tenants with large yards, community/open-garden space, and uncovered on-site parking. A savvy investor may be able to create future development opportunities since the buildings only occupy only 35% of the total lot (buyer to investigate). Currently the property has the ability to generate approximately $31,926 in monthly rental income. Similar leased townhomes in the area achieved an effective rent of $2,600, allowing a new investor to capitalize on nearly 20% upside in rental income. Additional income at the property streams from a recently implemented utility reimbursement program – tenants currently split the cost of major expenses like water and trash evenly.
4 weeks ago | Price changed to $6,000,000 | |
4 weeks ago | Listing updated with changes from the MLS® | |
2 months ago | Status changed to Active | |
2 months ago | Listing first seen on site |
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. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
Did you know? You can invite friends and family to your search. They can join your search, rate and discuss listings with you.