1429 N Grove Ave , Ontario, CA 91764
$9,500,000
Est. Payment: $47,802.50/mo
3 Bed
2 Bath
26624 Sqft
Status: active | Days on site: 8
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House 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.

Highlights

Listed by Nicholas Hayner , 310-994-9158 Maywood Property Group , 310-650-9696. CRMLS/Multi-Regional MLS mls logo

Property Type

Multi-Family

Lot/Acreage
1.67

Year Built

1990

County

San Bernardino

Area

686 - Ontario

Listing ID

26857999

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:3
  • Bathrooms:2
  • Full Bathrooms:0
Appliances:Dishwasher, Dryer, Washer
Air Cond:Central Air
Fireplaces:

Exterior Features

Lot:No Land Lease
Garage Capacity:52
Others:2+ Total Units
Parking Features:Door-Multi,Garage
Principal Interest
$47,802
Taxes
$6,056

Home Price

$9,500,000

Loan Details

30 yrs
6.453%

Down Payment

20%
$1,900,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$47,802.50

Principal

Taxes

Principal Taxes HOA Total
Monthly $47,802.50 $6,056.25 $0.00 $53,858.75
Yearly $573,629.98 $72,675.00 $0.00 $646,304.98
Total $17,208,899.32 $2,180,250.00 $0.00 $19,389,149.32

Today's Rates

30 Year

6.45%

20 Year

6.33%

15 Year

5.88%

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Average Days on Market

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Market insight data is pulled from the same city as the listing being viewed (Ontario, CA).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information from California Regional Multiple Listing Service, Inc. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. All properties are subject to prior sale, change or withdrawal.

IDX service by Blueroof 360

Data last updated: 2026-08-08T08:36:43.000Z

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