Property Description

• Sold for $191,000 Per Unit
• (4) 2-Bed/1-Bath Cottages & (2) 1-Bed/1-Bath Spacious Units
• Individual Laundry Hook-Ups & Garage Parking
• Seller Owned the Property for Over 40 Years and Decided to Utilize a 1031-Exchange to Sell and Purchase a New Property Which Offered Both an Increase Number of Units, and an Increase in Net Income
• Kris and Deepen Represented Both the Buyer and Seller
• Successfully Negotiated Contract Extensions on Behalf of the Seller to Provide Them with Ample Time to Find Their New Investment Property

We are pleased to present 132 N Pleasant Avenue, a unique 6 unit multi-family property in the heart of the rapidly growing city of Ontario. This is the first time the property has been offered for sale in over 40 years! The subject property is comprised of four single-story detached 2 bedroom/1 bathroom units, along with two spacious 1 bedroom/1 bathroom units which are situated above six single-car garages. Tenants enjoy gated privacy as well as a sense of ownership from the privacy the single level units offer. The current owner has invested in a substantial amount of capital improvements including; new electrical system, new copper plumbing, as well as completely updated interiors. A new investor can take advantage of this “turn-key” asset while enjoying a generous 4.70% Cash-On-Cash Return upon the close of escrow. Poised for long term stable occupancy and growth, the subject property is ideal for your next 1031-Exchange or new purchase.