Mountain View Apartments | 1027 W E St
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Mountain View Apartments 1027 W E St
12 Unit Apartment Building $3,933,104 CAD ($327,759 CAD/Unit) 3.78% Cap Rate Ontario, CA 91762
Investment Highlights
- Excellent Ontario Rental Location – Between 10 & 60 Freeways off Mountain Avenue
- Two Six-Unit Buildings, Totaling ±11,044 Rentable SF, Situated on a Corner ±17,001 SF Lot
- Offer at 3.78% Cap Rate on Current Income- 7.39% Cap Rate with Rent Increases
- Partially Upgraded Units with Positive Rent Growth Potential – Upon a Complete Remodel, Rents are Looking to Grow Approximately 58% to Achieve Market
- All 2-Bedroom/1-Bathroom Units, Approximately 920 SF
- Professionally Managed Well Maintained Property – New Exterior Paint with Termite Completion, Carport Roof Redone in the Past 5 Years
Executive Summary
CBRE, Inc, as Exclusive Advisor, is proud to present the Mountain View Apartments, a 12- Unit multifamily property, located at 1027 W E Street in the City of Ontario. The Mountain View Apartments is an excellent investment opportunity situated on the corner of N Palmetto Avenue and West E Street.
Mountain View Apartments is located in Ontario, a high-demand market with a rapidly growing population. Tenant’s benefits from unparalleled convenience and accessibility to major retailers like Walmart, Costco, Raising Canes, Target, and a variety of restaurants, malls, parks, banks, and fitness centers nearby as well as essential services like Kaiser Permanente Medical Center. Within a 10-mile radius, are popular attractions like Victoria Gardens, Top Golf, Toyota Arena, and Claremont Village. The property is also located within a 25-mile radius of several notable SoCal attractions in San Gabriel Valley, Anaheim, and Riverside.
Mountain View Apartments, a 12-unit complex, offers all 2B/1B units for a total of ±11,044 square feet of living space on a ±17,001 square foot lot. Convenient parking is provided for all residents with 12 carports. Recent upgrades include a new roof, exterior renovations, and termite treatment. Over half of the units feature modern interiors with granite countertops, wood flooring in the living rooms, and tile flooring in the bathrooms and kitchens. The average unit size is 920 square feet.
Mountain View Apartments offers a stable and profitable investment opportunity with 58% rental growth potential to achieve market rents. Currently generating $15,945 in monthly income, this multifamily property is ideally situated in Ontario, a high demand thriving Inland Empire market. Whether you’re a first-time investor, seasoned professional, or seeking a 1031 exchange, Mountain View Apartments presents a lucrative investment choice and valuable long-term asset.
Mountain View Apartments is located in Ontario, a high-demand market with a rapidly growing population. Tenant’s benefits from unparalleled convenience and accessibility to major retailers like Walmart, Costco, Raising Canes, Target, and a variety of restaurants, malls, parks, banks, and fitness centers nearby as well as essential services like Kaiser Permanente Medical Center. Within a 10-mile radius, are popular attractions like Victoria Gardens, Top Golf, Toyota Arena, and Claremont Village. The property is also located within a 25-mile radius of several notable SoCal attractions in San Gabriel Valley, Anaheim, and Riverside.
Mountain View Apartments, a 12-unit complex, offers all 2B/1B units for a total of ±11,044 square feet of living space on a ±17,001 square foot lot. Convenient parking is provided for all residents with 12 carports. Recent upgrades include a new roof, exterior renovations, and termite treatment. Over half of the units feature modern interiors with granite countertops, wood flooring in the living rooms, and tile flooring in the bathrooms and kitchens. The average unit size is 920 square feet.
Mountain View Apartments offers a stable and profitable investment opportunity with 58% rental growth potential to achieve market rents. Currently generating $15,945 in monthly income, this multifamily property is ideally situated in Ontario, a high demand thriving Inland Empire market. Whether you’re a first-time investor, seasoned professional, or seeking a 1031 exchange, Mountain View Apartments presents a lucrative investment choice and valuable long-term asset.
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$268,771
|
$24.34
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$13,439
|
$1.22
|
| Effective Gross Income |
$255,333
|
$23.12
|
| Taxes |
$44,776
|
$4.05
|
| Operating Expenses |
$62,015
|
$5.62
|
| Total Expenses |
$106,791
|
$9.67
|
| Net Operating Income |
$148,542
|
$13.45
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $268,771 |
| Annual Per SF | $24.34 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $13,439 |
| Annual Per SF | $1.22 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $255,333 |
| Annual Per SF | $23.12 |
| Taxes (CAD) | |
|---|---|
| Annual | $44,776 |
| Annual Per SF | $4.05 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $62,015 |
| Annual Per SF | $5.62 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $106,791 |
| Annual Per SF | $9.67 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $148,542 |
| Annual Per SF | $13.45 |
Property Facts
| Price | $3,933,104 CAD | Apartment Style | Low Rise |
| Price Per Unit | $327,759 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.39 AC |
| Cap Rate | 3.78% | Building Size | 11,044 SF |
| Gross Rent Multiplier | 14.63 | No. Stories | 2 |
| No. Units | 12 | Year Built | 1961 |
| Property Type | Multifamily | Parking Ratio | 1.08/1,000 SF |
| Property Subtype | Apartment |
| Price | $3,933,104 CAD |
| Price Per Unit | $327,759 CAD |
| Sale Type | Investment |
| Cap Rate | 3.78% |
| Gross Rent Multiplier | 14.63 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.39 AC |
| Building Size | 11,044 SF |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.08/1,000 SF |
Unit Amenities
- Air Conditioning
- Storage Space
- Heating
- Tile Floors
- Granite Countertops
- Hardwood Floors
- Oven
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | $2,237 CAD | 920 |
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PROPERTY TAXES
| Parcel Number | 1010-463-04 | Total Assessment | $2,616,199 CAD (2024) |
| Land Assessment | $253,342 CAD (2024) | Annual Taxes | $44,776 CAD ($4.05 CAD/SF) |
| Improvements Assessment | $2,362,856 CAD (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
1010-463-04
Land Assessment
$253,342 CAD (2024)
Improvements Assessment
$2,362,856 CAD (2024)
Total Assessment
$2,616,199 CAD (2024)
Annual Taxes
$44,776 CAD ($4.05 CAD/SF)
Tax Year
2023
zoning
| Zoning Code | R3 |
| R3 |
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Mountain View Apartments | 1027 W E St
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