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622 N Vine Ave, Ontario, CA 91762
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622 N Vine Ave Ontario, CA 91762

$1,350,000
  • 7 Beds
  • 5 Baths
  • 3,792 Sq.Ft.
Back Up Offer
$1,350,000 Get Pre-Qualified
Map preview of 622 N Vine Ave, Ontario, CA 91762

Property Overview: 622 N Vine Ave Ontario, CA has 7 bedrooms, 5 bathrooms, 3,792 living square feet and 5,184 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: NOI INCREASE OF 28% with room for VALUE ADD!! Exciting Investment Potential at 622-630 N Vine Ave. This exceptional property consisting of 5 units presents a lucrative opportunity for investors. Located just a few blocks from Euclid Avenue, it features a mix of three spacious 1-bed/1-bath units and two generous 2-bed/1-bath units. Each unit is accompanied by its own private garage, additional on-site parking spaces, and convenient access to a dedicated coin-operated laundry room. All units have been updated with durable tile flooring, windows, bathrooms, and with 4 out of 5 of them with newer kitchens. This multifamily property enjoys the benefit of reliable, timely-paying tenants, further enhancing its appeal. This property benefits from a prime location in Ontario, offering convenient proximity to a wide array of shops, dining establishments, and entertainment venues. As a result, it stands as a highly sought-after investment opportunity in the area.

Listed by Kai Kim | BRE #02040060 | eXp Realty of California Inc
Co-listed by LEONIE TRAN | BRE #02074147 | EXP REALTY
Last checked: 3 minutes ago | Last updated: May 1st, 2024 | Source CRMLS | DOM: 292
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Home details

Lot Sq. Ft
5,184
HOA Dues
$0/mo
Year built
1953
Garage
5 Car
Property Type:
Mixed Use
Status
Back Up Offer
MLS#
OC23124376
City
Ontario
County
San Bernardino
Time on Site
292 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 2
  • # of Leased Units: 5
  • # of Electric Meters: 5
  • # of Gas Meters: 5
  • # of Water Meters: 0
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,950
  • Total Rent: $1,950
  • Pro Forma/Market Rent: $2,100
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,950
  • Total Rent: $1,950
  • Pro Forma/Market Rent: $2,100
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,600
  • Total Rent: $1,600
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,300
  • Total Rent: $1,300
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,350
  • Total Rent: $1,350
  • Pro Forma/Market Rent: $1,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.21%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $97,800
  • Net Operating Income: $70,355
  • Gross Operating Income: --
  • Vacancy Allowance: $3,078
Annual Expense Breakdown
  • Total Operating Expense: $27,445
  • Trash: $5,619
  • Insurance: $4,190
  • Professional Management: $4,190
  • Water/Sewer: $5,619

Open Houses for 622 N Vine Ave

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Property Details for 622 N Vine Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Community
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Tile
  • Kitchen, Living Room, Main Floor Bedroom
Kitchen Information
  • Has Appliances
  • Gas Oven
Interior Features
  • Ceiling Fan(s), Quartz Counters
  • Levels: One
  • Window Features: Insulated Windows
Exterior Features
Exterior Information
  • Roof: Shingle
  • Has Fence
  • Block, Good Condition, Wrought Iron
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 5
  • # of Parking Spaces: 8
  • Parking Features: Garage, On Site, Street
Lot Information
  • Lot Features: 2-5 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Has View
  • View: Neighborhood
  • Common Walls: 2+ Common Walls
  • Total # of Units: 5
  • Parcel Number: 1048341060000
  • Year Built Source: Other
  • Entry Level: 1
  • Property is Attached
  • Accessibility Features: Parking
  • Property Condition: Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Natural Gas Available, Natural Gas Connected, Water Available, Water Connected
Assessment Information
  • Has Assessments
  • Assessments: Unknown
Location / Neighborhood
Location Information
  • Directions: Please check navigation
  • Road Surface Type: Paved
Neighborhood Information
  • Community Features: Curbs, Gutters, Sidewalks, Street Lights
View more facts & features

Local Ontario Agent

Sale History for 622 N Vine Ave

Last sold for $840,000 on February 21st, 2018

  • May, 2024

  • May 1, 2024

    Date

    Back Up Offer

    CRMLS: OC23124376

    $1,350,000

    Price

  • Jul 14, 2023

    Date

    Active

    CRMLS: OC23124376

    $1,500,000

    Price

  • February, 2018

  • Feb 22, 2018

    Date

    Sold

    CRMLS: OC17226203

    $840,000

    Price

  • Feb 15, 2018

    Date

    Pending

    CRMLS: OC17226203

    $849,999

    Price

  • Dec 1, 2017

    Date

    Price Change

    CRMLS: OC17226203

    $849,999

    Price

  • Nov 1, 2017

    Date

    Price Change

    CRMLS: OC17226203

    $250,000

    Price

  • Oct 2, 2017

    Date

    Active

    CRMLS: OC17226203

    $850,000

    Price

  • Listing provided courtesy of CRMLS

    622-630 N Vine Ave is an excellent investment with lots of upside opportunity. This 3,762 sq ft 5plex is just a few blocks walking distance to shops, dining, groceries, and entertainment on busy Euclid Avenue. The property is neighbor to a corner located 7-Eleven convenient store and sits on a 5,184 sq ft lot. Live in one unit and rent the other's out. The unit mix consist of Three 1 bedroom / 1 bath; and Two 2 bedroom / 1 bath units. In addition, each unit has a private garage with additional onsite parking. Separate coin operated laundry room with one washer and dryer…room to add. Easy tenant transition...four of the five units are on month to month leases. The fifth lease expires in June 2018. This is a high demand area...very low to no vacancies. Current rents are below market. With min renovations, this property can command top rents for Ontario. Drive by only. Please do not disturb the tenants. Offer contingent upon offer. Owner financing may be considered. Defer Capital Gains when you sell your capital asset. More flexible than a 1031 Exchange. Visit DeferCapitalGainsTaxes.com

  • February, 2018

  • Feb 21, 2018

    Date

    Sold (Public Records)

    Public Records

    $840,000

    Price

  • January, 1995

  • Jan 4, 1995

    Date

    Sold (Public Records)

    Public Records

    $92,500

    Price

Show More

Tax History for 622 N Vine Ave

Assessed Value (2020): $717,876
Year Land Value Improved Value Assessed Value
2020 $156,060 $561,816 $717,876

Home Value Compared to the Market

This property vs the competition

622 N Vine Ave is listed 107.72% higher than the median list price for the city of Ontario which has a median list price of $649,900. The median price per/sqft for Ontario is $417 and this home is listed at $356.01 per/sqft which puts the price per square foot 14.63% lower than the median price per square foot for the city of Ontario.

About 622 N Vine Ave

Detailed summary of property

622 N Vine Ave is a mixed use located in Ontario, CA 91762 and is currently in escrow to be sold. This mixed use property offers 7 bedrooms, 5 bathrooms, roughly 3,792 living square feet, and sits on an approximately 5,184 square foot lot. 622 N Vine Ave was first listed on ArdentRealEstateGroup.com on July 14, 2023. The homeowner is currently asking $1,350,000 and was originally asking $1,500,000. The median priced home in Ontario is $649,900 with a median price per square foot of $417. Based on Ardent Real Estate Group's Ontario Market Data, this home is listed 107.72% higher than the median priced home. Local competing homes currently for sale include 2630 E 1St St, 2007 Pennsylvania Ave and 2015 Pennsylvania Ave. While the average home in Ontario, CA is selling in 50 days, 622 N Vine Ave has a days on market of 292 days. There are currently 299 homes for sale in the Ontario real estate market and 156 of them are single family homes while 123 of them are condos and 20 are townhomes. For more information on this home for sale at 622 N Vine Ave Ontario, CA 91762 contact Ardent Real Estate Group and we will put you in touch with one of our Ontario agents.

Public Facts for 622 N Vine Ave

Public county record property details
Beds
--
Baths
--
Year built
1953
Sq. Ft.
3,762
Lot Size
5,184
Stories
--
Type
Apartments (Generic)
Pool
No
Spa
No
County
San Bernardino
Lot#
4
APN
1048-341-06-0000

The source for these homes facts are from public records.

91762 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$688,990
Median List Price/Sq.Ft.
$417
Median Sold Price
$740,000
Median Sold Price/Sq.Ft.
$416
Total Inventory
93
Median Sale to List Price %
102.07%
Avg Days on Market
20
Loan Type
Conventional (63.89%), FHA (5.56%), VA (0%), Cash (22.22%), Other (8.33%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

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