1429 N Grove Ave - Apartments FOR SALE


Ontario, CA 91764
$9,500,000 USD
310-994-9158
1429 N Grove Ave, Ontario, CA for Sale
$9,500,000 USD
Apartments - FOR SALE
1/13
null | 6.75% Cap Rate

1429 N Grove Ave
Ontario, CA 91764


HIGHLIGHTS

  • 6.75% Going-In Cap Rate | 1990 Build | 7.8% Cash-On-Cash Return With Assumable Financing
  • ALL 3+2 Units | ONLY $2,900,000 Down Required With Assumable Financing | All New Roofs With Warranties
  • 2-Car Garages + Surplus Parking | Individual Water Heaters | Central AC | 12 New HVAC Units
  • Secured Gated Entry | New Security Gates | 1.67 Acres Of Land | No Local Rent Control

OVERVIEW

Maywood Property Group is pleased to present 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 26,624 square 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 of 6.75%, 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 Ontario International Airport and provides efficient access to the I-10 freeway, connecting residents throughout the Inland Empire and greater Southern California.

FOR SALE DETAILS

PRICE

$9,500,000 USD

PRICE/SF

$357 USD /SF

# OF UNITS

26

PRICE/UNIT

$365,385

CAP RATE

6.75%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

La Aldea (Grove Luxury Apts)

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1990

PARKING SPACES

46

LAND DETAILS

LAND ACRES

1.67 AC

LAND SF

72,745 SF

ZONING

R2, Ontario

APN/PARCEL ID

1047-433-15

ASK ABOUT THIS PROPERTY

Nicholas HaynerMaywood Property GroupMore Info
310-994-9158

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Nicholas HaynerMaywood Property GroupMore Info
310-994-9158

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.