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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$10,500,000

Est. payment - /mo

0.65 Acres Lot

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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID CV26005212

HOA Y/N No

Year Built 2021

Lot Size 0.649 Acres

Property Sub-Type Apartment

Property Description

Vista Court Apartments is an exquisitely-designed, 23-unit, luxury apartment community located at the heart of Montclair, CA. Vista Court Apartments is located at 8951 Monte Vista Ave at the highly amentized corner of Arrow Highway and Monte Vista Ave, where highly desirable communities of Montclair, Claremont, and Upland merge. The property is located just 1-block from Montclair Metro Station to the North and Montclair Place Shopping Center to the south. Tenants benefit from having access to a variety of retailers, shops, and dining options like Target, Home Depot, Costco, LA Fitness, Golds Gym, Moreno Street Market Food Hall, Olive Garden, Applebee's Chilis and many more options. Tenants also enjoy being a short 5-to-10-minute drive to frequently-travelled places like Downtown Claremont, Claremont Colleges, Victoria Gardens, Toyota Arena, and a large selection of employers found one city over in the City of Ontario, the employment hub of the Inland Empire.
Vista Court Apartments was meticulously designed with modern-luxury features. Tenants at Vista Court enjoy a plethora of high-level features like gourmet kitchens with stainless steel appliances, undermount sinks, quarts counters in kitchen and bathrooms, wood plank flooring, modern bathrooms, in-unit washer and dryer, central AC, double-pane energy-efficient windows, recessed lighting, and large outdoor patio or balcony in every unit. Throughout the community, tenants enjoy access to covered/assigned secured parking, a +/-700 SF community room equipped with a kitchen, bathroom, and entertainment area for hosting, outdoor BBQ & picnic area, and ample open green space.
Vista Court features 23 large apartment homes with 18 unique floorplans. The property offers 28,258 SF of rentable building space and spans across a generous 28,280 SF site. The property consists of 12, 1-Bedroom/1-Bathrooms, 2, 2-Bedroom/2-Bathrooms, and 9, 2-Bedroom/2.5-Bathroom townhouse-style apartment homes. Currently the property produces nearly $682,000 in annual rental income. Additional revenue stream from on-site parking, storage, and the community room. An experienced investor will recognize the opportunity to preserve the investment's NOI through RUBS and other forms of aggressive management processes. A new investor also has the option to assume the existing loan from Umpqua Bank at a below market interest rate of 4.04% fixed for another 4 years.

Location

State CA

County San Bernardino

Area 685 - Montclair

Interior

Heating Central

Cooling Central Air

Fireplace No

Appliance Barbecue, Electric Range, Gas Oven, Microwave, Refrigerator, Dryer, Washer

Laundry Common Area, Inside, Laundry Closet

Exterior

Parking Features Assigned, Covered, Garage

Garage Spaces 31.0

Garage Description 31.0

Pool None

Community Features Biking, Curbs, Dog Park, Foothills, Golf, Gutter(s), Hiking, Horse Trails, Mountainous, Park, Street Lights, Suburban, Sidewalks, Valley

Total Parking Spaces 31

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 3

Entry Level Three Or More

Sewer Public Sewer

Water Public

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 1008011240000

Acceptable Financing Cash, Cash to Existing Loan, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to Existing Loan, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

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Listed by Justino Faaola COMPASS 626-315-7603, DRE #02038198

NEARBY SCHOOL & BUSINESS

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8951 Monte Vista Ave Montclair, CA 91763