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29150795
29150784

8951 Monte Vista Ave, Montclair, CA 91763

JF
CA 02038198
Compass Los Angeles
Listed by Compass Los Angeles
$10,500,000
153 days on market
Updated 7 days ago

8951 Monte Vista Ave

Details
APN 1008011240000
Property Type Multifamily
Sub Type Apartment Building
Square Footage 28,258
Net Rentable (SqFt) 28,258
Units 23
Cap Rate 4.22%
NOI $443,075
Occupancy 100%
Pro-Forma Cap Rate 4.88%
Pro-Forma NOI $512,444
Price per SqFt $372
Broker Co-Op Yes
Year Built 17200
Buildings 1
Stories 3
Acreage 0.649
Zoning Public Rec
Ground Lease No

2021 Construction | Townhouse-Style 2-Bedroom Units | North Montclair

Marketing 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, Applebees 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, outdoo

Investment highlights

  • Incredible Loan Assumption Creates Higher Returns with Better Leverage | A New Investor has the Opportunity to Assume the Existing Debt of +/- $5,870,000, at a Below Market Interest Rate of 4.04% Fixed until November 2029

  • Prime West Inland Empire Location | Vista Court is Located where the Cities of Montclair, Upland, and Claremont meet, allowing both Tenants and a New Owner to Benefit from all 3 Extremely Desirable and Highly Amenitized Communities

  • Strategically Amenitized Location | Vista Court is Located Just 1-Block from Montclair Metro Station and Just Minutes from a Plethora of Diverse Retail Amenities including Montclair Place Shopping Mall, Downtown Claremont, Victoria Gardens, Target, LA Fitness, Moreno Street Market, Ontario Airport, Several Business Parks within the Employment Hub of the Inland Empire, and Much More

  • Several Upcoming New Developments Nearby | Vista Court will Soon be just Minutes from Several New Community Landmarks Including Ontario’s Upcoming Billion Dollar Redevelopment of the Arena District (Toyota Arena) which will Feature Over 70,000 SF of Commercial Retail Space for Entertainment, 80,000 SF of Public Open Space for Special Events, 700 New Luxury Apartments, Luxury Hotel, and More to be Announced in Future Phases

  • Meticulously Designed Modern-Luxury Apartment Community | Vista Court Exemplifies Pride of Ownership with Apartment Homes boasting Spacious Floorplans, Gourmet Kitchens with Stainless Steel Appliances, European-Style Cabinetry, Quartz Counters, Undermount Stainless Steel Sinks, Waterproof Wood Plank-Style Flooring, In-Unit Washer and Dryers, Central AC, Double Pane Energy-Saving Windows, LED Recessed Lighting, an oversized Balcony/Patio for Every Unit, and More

  • Community Built to Serve Tenant Needs | Vista Court features Over 30 Covered Parking Spaces, a +/-700 SF Community Room Equipped with a Kitchen, Bathroom and Entertainment Area for hosting, Full Perimeter Camera Security System, Outdoor BBQ & Picnic Area, Separate & Hidden Trash Area, Matured Well-Kept Landscaping Throughout, and Ample Open Space

  • Vista Court Apartments features 12, 1-Bed/1-Bath, 2, 2-Bed/2-Bath, and 9, 2-Bed/2.5-Bath Townhouse-Style Apartment Homes, averaging 725, 1,070, and 1,092 SF, respectively

  • 2021 Construction grants Landlord the Capability for Higher Annual Rent Increases since Not Subject to any Local or State Mandated Rent Control

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Listing Contacts

JF
CA 02038198
Compass Los Angeles
Listed by Compass Los Angeles

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$443,075.00
$36,922.92/mo

Valuation Metrics

0
DSCR
4.22%
Cap Rate
4.22%
ROI

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Additional Information

Name
Justino Fa'aola
License
02038198
Brokerage
Compass Commercial
Brokerage Phone
6263157603
Title
Senior Vice President
Brokerage Address
755 East Route 66
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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