The Willow | 221 N Mountain Ave
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The Willow 221 N Mountain Ave
39 Unit Apartment Building $17,995,000 ($461,410/Unit) 4.94% Cap Rate Ontario, CA 91762
Investment Highlights
- Rare Trophy Asset: Brand New Construction, Fully Occupied Townhouse Development in Desirable West Inland Empire
- Desirable Unit Mix: Tri-Level Spacious 1-Bedroom + Den & 2-Bedroom Townhouse Units | Average Unit Size of 998 SF
- Luxurious Unit Amenities: Residences Feature Private Attached Garages with Bluetooth Access, EV Charging Accessible, Modern Waterproof Plank Flooring
- Prime Income-Producing Property: Great Long-Term Investment with Non-Rent-Controlled Units, Minimal Maintenance, Tenant Paid Utilities
- Centrally Located: Convenient Access to 10, 60, 57, 210 and 15 Freeways Connecting to all the Inland Empire, Los Angeles County, Orange County
- Building Features Include: Controlled Gated Access at Alleyway, Professional Management, Shared Picnic Area with BBQ Grilling Stations
Executive Summary
CBRE, Inc, as Exclusive Advisor, is proud to present for sale, The Willow Luxury Townhomes (The Willow), a brand-new construction trophy asset located at 221 North Mountain Avenue in the desirable west region of the Inland Empire.
The Willow is situated on the west side of North Mountain Avenue between West D Street and West Stoneridge Court in the city of Ontario, California. Ontario is a high-demand rental market, one of the fastest growing cities within the Inland Empire, and the economic heart of the region. Tenants at The Willow will benefit from unparalleled convenience and accessibility to major retailers like Walmart, Costco, Target, Stater Brothers, Cardenas and a variety of restaurants, malls, parks, banks, and fitness centers nearby. Additionally, within close-proximity are essential services like Ontario International Airport, Kaiser Permanente Medical Center and Pomona Valley Hospital Medical Center. Also, within a 10-mile radius, are popular attractions like Ontario Mills, Montclair Plaza, Victoria Gardens, Top Golf, Toyota Arena, and Claremont Village. Lastly, the property is centrally located with convenient access to the 10, 60, 57, 71, 210 and 15 freeways connecting to all the Inland Empire, Los Angeles County, Orange County, and beyond.
The Willow Luxury Townhomes consists of 39 tri-level townhouse style residential units. The property is a green building and finished construction in June 2024. It features eighteen, one-bedroom/one-bathroom + loft townhomes and 21, two-bedroom/two-and-one-half-bathroom townhomes with an average unit size of 998 square feet. Unit amenities feature private attached garages with Bluetooth access, EV Charging accessible, modern waterproof plank flooring, in-unit washer & dryer, stainless steel appliance package, hardwood cabinetry, quartz countertops, recessed lighting, central air-conditioning & heating, and private balconies. The well-maintained property also features controlled gated access at alleyway, professional management, a shared picnic area with BBQ grilling stations, built-in yard games, paid-for solar panels, and is a cozy community atmosphere.
The Willow was leased nearly to 100% occupancy within the first three months of completion and currently has a monthly gross potential rent of $106,770. The property is a great long-term investment opportunity boasting non-rent-controlled units, minimal maintenance, and tenant paid utilities (each unit is individually metered for electric and gas and has a sub-meter for water and sewer. Tenants also pay for their own trash bins). The Willow offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.
The Willow is situated on the west side of North Mountain Avenue between West D Street and West Stoneridge Court in the city of Ontario, California. Ontario is a high-demand rental market, one of the fastest growing cities within the Inland Empire, and the economic heart of the region. Tenants at The Willow will benefit from unparalleled convenience and accessibility to major retailers like Walmart, Costco, Target, Stater Brothers, Cardenas and a variety of restaurants, malls, parks, banks, and fitness centers nearby. Additionally, within close-proximity are essential services like Ontario International Airport, Kaiser Permanente Medical Center and Pomona Valley Hospital Medical Center. Also, within a 10-mile radius, are popular attractions like Ontario Mills, Montclair Plaza, Victoria Gardens, Top Golf, Toyota Arena, and Claremont Village. Lastly, the property is centrally located with convenient access to the 10, 60, 57, 71, 210 and 15 freeways connecting to all the Inland Empire, Los Angeles County, Orange County, and beyond.
The Willow Luxury Townhomes consists of 39 tri-level townhouse style residential units. The property is a green building and finished construction in June 2024. It features eighteen, one-bedroom/one-bathroom + loft townhomes and 21, two-bedroom/two-and-one-half-bathroom townhomes with an average unit size of 998 square feet. Unit amenities feature private attached garages with Bluetooth access, EV Charging accessible, modern waterproof plank flooring, in-unit washer & dryer, stainless steel appliance package, hardwood cabinetry, quartz countertops, recessed lighting, central air-conditioning & heating, and private balconies. The well-maintained property also features controlled gated access at alleyway, professional management, a shared picnic area with BBQ grilling stations, built-in yard games, paid-for solar panels, and is a cozy community atmosphere.
The Willow was leased nearly to 100% occupancy within the first three months of completion and currently has a monthly gross potential rent of $106,770. The property is a great long-term investment opportunity boasting non-rent-controlled units, minimal maintenance, and tenant paid utilities (each unit is individually metered for electric and gas and has a sub-meter for water and sewer. Tenants also pay for their own trash bins). The Willow offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$1,281,240
|
$32.85
|
| Other Income |
$55,467
|
$1.42
|
| Vacancy Loss |
$40,101
|
$1.03
|
| Effective Gross Income |
$1,296,606
|
$33.25
|
| Taxes |
$195,332
|
$5.01
|
| Operating Expenses |
$212,534
|
$5.45
|
| Total Expenses |
$407,866
|
$10.46
|
| Net Operating Income |
$888,740
|
$22.79
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $1,281,240 |
| Annual Per SF | $32.85 |
| Other Income | |
|---|---|
| Annual | $55,467 |
| Annual Per SF | $1.42 |
| Vacancy Loss | |
|---|---|
| Annual | $40,101 |
| Annual Per SF | $1.03 |
| Effective Gross Income | |
|---|---|
| Annual | $1,296,606 |
| Annual Per SF | $33.25 |
| Taxes | |
|---|---|
| Annual | $195,332 |
| Annual Per SF | $5.01 |
| Operating Expenses | |
|---|---|
| Annual | $212,534 |
| Annual Per SF | $5.45 |
| Total Expenses | |
|---|---|
| Annual | $407,866 |
| Annual Per SF | $10.46 |
| Net Operating Income | |
|---|---|
| Annual | $888,740 |
| Annual Per SF | $22.79 |
Property Facts
| Price | $17,995,000 | Apartment Style | Townhome |
| Price Per Unit | $461,410 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.27 AC |
| Cap Rate | 4.94% | Building Size | 39,000 SF |
| Gross Rent Multiplier | 13.46 | No. Stories | 3 |
| No. Units | 39 | Year Built | 2024 |
| Property Type | Multifamily | Parking Ratio | 1.87/1,000 SF |
| Property Subtype | Apartment |
| Price | $17,995,000 |
| Price Per Unit | $461,410 |
| Sale Type | Investment |
| Cap Rate | 4.94% |
| Gross Rent Multiplier | 13.46 |
| No. Units | 39 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 1.27 AC |
| Building Size | 39,000 SF |
| No. Stories | 3 |
| Year Built | 2024 |
| Parking Ratio | 1.87/1,000 SF |
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Picnic Area
- Grill
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 18 | $2,420 | 816 - 819 |
| 2+2.5 | 21 | $3,020 | 1,139 - 1,194 |
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Power Broker Eric Chen -
Blake Torgerson -
Kevin Sin -
CBRE, Inc.
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The Willow | 221 N Mountain Ave
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