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716 W Phillips St
For Sale $6,000,000
$6,000,000
- Unknown Bedrooms
- Unknown Bathrooms
- Unknown Sq Ft
- 47,916 Sq Ft
Description
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.
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $6,000,000 |
| Property Type | Condo/Co-Op |
| Usable Sqft | Unknown |
| Number of Stories | 2 stories |
| Parking Spots | 15 spots |
| Year Built | 1984 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 1049583550000 |
| MLS # | CV24215151 |
| Property ID | 320959156 |
| Lot Sqft | 47,916 |
| Zoning | Unknown |
| Total Units | 15 |
| Days on Market | 431 |
| Original List Price | $6,300,000 |
| Applicances | Dryer,Washer% |
| Date Updated | December 03, 2024 |
| Date Created | October 16, 2024 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | $383,112 | $0 |
| Net Income (Yr) | $ 288,268 |
| Cap Rate | 4.8% |
Listing Provided By
ERIC CHEN an agent of . Lic #01489184
© 2025 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of December 03, 2024 The information being 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.
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Robert Crawford
REAL ESTATE AGENT