5358 Howard Street, Ontario, CA 91762

Property Description

We are pleased to offer for sale this TURN-KEY, fully rehabbed, 7 unit multi-family residential property in the city of Ontario. The subject property consists of 7 individual cottage style units that are situated on an oversized 35,250 SqFt Lot. Over the course of the last year the current owners have extensively improved the property which includes; INTERIOR: New Electrical Throughout (New Electrical Sub-Panels, New Romex Wiring, New Recessed Lighting, New Decora Plugs and Switches), Majority of Plumbing Updated, New Tile Flooring Throughout, Fully Remodeled Kitchens, Fully Remodeled Bathrooms, New Interior Paint, Acoustic Ceiling Removal, New Dual-Pane Windows, 3 A/C Units per unit, New Ceiling Fans, New Entry and Interior Doors, EXTERIOR: New Roof and wood sheeting on (4) of the Units (remaining 3 roofs in good condition), New Exterior Paint and Stucco Repair, Xeriscape Landscaping Throughout for Minimal Water Expense, & New Exterior Lighting. The unit mix is comprised of 1(3Bed/1Bath) stand alone cottage and 5(2Bed/1Bath) stand alone cottages. The units are separately metered for electricity and gas while the owner pays for water and trash. Each unit has access to an attached 1 car garage with an additional 2 open parking spaces. Tenants enjoy interior washer/dryer hookups as well as private backyards with covered patios. The current CAP Rate based on existing rents is 5.5% with a current 13.34GRM. This property offers a new investor an opportunity to purchase a true pride of ownership asset, with excellent rental rates in place, and most importantly, stable monthly cash-flow with little to no maintenance required.