Ontario, CA 91762 622 N Vine 622-630 Avenue

$1,350,000

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Presented By: Kai Kim with eXp Realty of California Inc; 626-202-3381

MLS# OC23124376
07/14/2023

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Beds • 7
Baths • 5
SQFT • 3,792
Garage • 5

Home Details

NOI INCREASE OF 28% with room for VALUE ADD!! Exciting Investment Potential at 622-630 N Vine Ave. This exceptional property consisting of 5 units presents a lucrative opportunity for investors. Located just a few blocks from Euclid Avenue, it features a mix of three spacious 1-bed/1-bath units and two generous 2-bed/1-bath units. Each unit is accompanied by its own private garage, additional on-site parking spaces, and convenient access to a dedicated coin-operated laundry room. All units have been updated with durable tile flooring, windows, bathrooms, and with 4 out of 5 of them with newer kitchens. This multifamily property enjoys the benefit of reliable, timely-paying tenants, further enhancing its appeal. This property benefits from a prime location in Ontario, offering convenient proximity to a wide array of shops, dining establishments, and entertainment venues. As a result, it stands as a highly sought-after investment opportunity in the area.

Presented By: Kai Kim with eXp Realty of California Inc; 626-202-3381

Interior Features for 622 N Vine 622-630 Avenue

Other Interior Features

Air Conditioning Y/NYes

Basement (Y/N)No

Common WallsItem2CommonWalls

Electric On Property Y/NNo

Fireplace FeaturesNone

Fireplace Y/NNo

FlooringTile

Heating Y/NYes

Laundry FeaturesCommonArea

Street SuffixAvenue

Total Stories1

Window FeaturesInsulatedWindows

Other Rooms

Entry Level1

General for 622 N Vine 622-630 Avenue

AccessibilityParking

Additional Parcels Y/NNo

AppliancesGasOven

Attached Garage No

Building Area UnitsSquareFeet

Cap Rate5.21

Carport Y/NNo

CityOntario

Community FeaturesCurbs, Gutters, StreetLights, Sidewalks

Construction MaterialsStucco, WoodSiding

ContingencyPurchase to be made as is

CoolingWallWindowUnits

CountySan Bernardino

Current FinancingConventional

Days on Market292

DirectionsPlease check navigation

ElectricElectricityOnProperty

Entry LocationOff Vine

Garage Spaces5.0

Garage Y/NYes

Gross Income97800.0

HOA / Comm AssnNo

HeatingWallFurnace

Home Warranty Y/NNo

Insurance Expense4190.0

Interior FeaturesCeilingFans, QuartzCounters, BedroomonMainLevel

Land Lease Y/NNo

Lease Considered Y/NNo

Lease Renewal Y/NNo

LevelsOne

Listing TermsCash, Conventional, Item1031Exchange

Lot Size Square Feet5184.0

MLS Area686 - Ontario

MobileHomeRemainsYNNo

Net Operating Income70355.0

New ConstructionNo

Number of Units Leased5

Open Parking Spaces3.0

Operating Expense27445.0

Pool FeaturesNone

PossessionCloseOfEscrow

Private PoolNo

Property Attached Y/NYes

Property ConditionUpdatedRemodeled

Property Sub Type AdditionalMixedUse

Property SubTypeMixedUse

Property TypeResidentialIncome

Rent Control Y/NNo

RoofShingle

Senior Community Y/NNo

SewerPublicSewer

Spa FeaturesNone

Special Listing ConditionsStandard

Standard StatusActiveUnderContract

StatusActiveUnderContract

Stories1

Street NameVine 622-630

Tax Lot4

Tenant PaysElectricity, Gas

Total Actual Rent6830.0

Total Units5

Trash Expense5619.0

UtilitiesNaturalGasAvailable, NaturalGasConnected, WaterAvailable, WaterConnected

ViewNeighborhood

View Y/NYes

Water Sewer Expense5619.0

Waterfront Y/NNo

Year Built1953

Year Built SourceOther

Exterior for 622 N Vine 622-630 Avenue

Building Area Total3792.0

Crops Included Y/NNo

FencingBlock, GoodCondition, WroughtIron

Horse Y/NNo

Irrigation Water Rights Y/NNo

Lot FeaturesItem25UnitsAcre

Lot Size Acres0.119

Lot Size Area5184.0

Lot Size SourceAssessor

Lot Size UnitsSquareFeet

Number of Buildings2

Number of Separate Electric Meters5

Number of Separate Gas Meters5

Number of Separate Water Meters0

Open Parking Y/NNo

Parking FeaturesGarage, OnSite, OnStreet

Road Surface TypePaved

SpaNo

Total Parking8.0

Water SourcePublic

Additional Details

Price History

First Team Client Services

Price $1,350,000

MLS#OC23124376

List Date 07/14/2023

Property Type Multi-Family

Phone 714.964.3311

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