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Armand Martin

armand.martin@exprealty.com +1(661) 221-5011

$ 9,500,000

Est. payment | -/mo

26,624 SqFt

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$ 9,500,000

Est. payment | -/mo

Save

26,624 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 26,624 sqft

Price per Sqft $356

MLS Listing ID 26857999

Year Built 1990

Lot Size 1.670 Acres

Acres 1.67

Property Sub-Type Multi-Family

Property Description

1429 N. Grove Avenue, a well-maintained 26-unit apartment community in the strong and supply-constrained Ontario rental market. Built in 1990, the property offers a highly desirable, family-oriented unit mix consisting exclusively of three-bedroom, two-bathroom residences, averaging more than 1,000 square feet each, a rare configuration that caters to long-term tenants seeking the functionality and privacy of a single-family home with the convenience of apartment living.Situated on an expansive 72,745 square-foot (1.67-acre) site, the property contains approximately 26,624square feet of improvements and provides residents with an exceptional parking profile: two-car garages for each unit, plus surplus on-site parking. Recent capital improvements materially reduce near-term ownership risk and include new roofs with transferable warranties, individual water heaters, 12 newly installed HVAC units, and new automatic security gates.The asset is positioned for both durable in-place cash flow and continued operational upside. With no local rent control, ownership benefits from greater flexibility to align rents with market conditions while maintaining a tenant base drawn to the property's oversized floor plans, garage parking, central air conditioning, and secure community setting. The offering is being presented at an attractive going-in cap rate in excess of 6.7%, providing investors immediate yield in a Southern California market where comparable newer-vintage, low-density multifamily assets remain difficult to replicate.Ideally located near Ontario Mills, the property offers convenient access to major retail, dining, entertainment, and employment centers. It is also located approximately three miles from OntarioInternational Airport and provides efficient access to the I-10 freeway, connecting residents throughout the Inland Empire and greater Southern California.

Location

State CA

County San Bernardino

Area Ontario

Rooms

Other Rooms Shed(s)

Interior

Heating Central

Cooling Central

Equipment Washer, Dishwasher, Dryer

Exterior

Parking Features Garage - 2 Car

Garage Spaces 52.0

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Maywood Property Group

Nearby Locations

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Armand Martin

+1(661) 221-5011

armand.martin@exprealty.com

1429 N Grove Ave Ontario, CA 91764

Armand Martin

Key Details

Location

Rooms

Interior

Exterior

Building

Others

Nearby Locations

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1429 N Grove Ave