318 E F Street 3, Ontario, California 91764, Ontario, - bed, bath
ACTIVE$899,000
318 E F Street 3, Ontario, California 91764
0Bed
0Bath
3,664Sqft
8,496Lot
Year Built
1925
Close
-
List price
$899K
Original List price
$979K
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
IV25055508
Home ConditionFair
Features
Patio
View-
About this home
Price Improvement!! Welcome to this amazing triplex located at 318 E F Street, Ontario. This property is an investor’s dream, featuring three units and a 20x40 4 car garage situated on a 8,500 square foot lot. The current tenants have maintained good standing, ensuring a seamless transition for new ownership. This triplex offers ample parking including a four car garage, providing convenience and security for tenants. The prime location is a significant advantage, with easy access to freeways, dining, city centers, and entertainment options. Seller has owned this well performing property for over 20 years. Don’t miss out on this wonderful investment opportunity.
Price History
Date
Event
Price
08/29/25
Price Change
$899,000
03/15/25
Listing
$979,000
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (9 Listings) | |
|---|---|---|---|
| Beds | 0 | 0 | |
| Baths | 0 | 0 | |
| Square foot | 3,664 | 2,152 | 70% |
| Lot Size | 8,496 | 7,020 | 80% |
| Price | $899K | $818K | 60% |
| Price per square foot | $245 | $373 | 10% |
| Built year | 1925 | 9770977 | 10% |
| HOA | |||
| Days on market | 234 | 219 | 60% |
Condition Rating
Fair
The property was built in 1925, making it nearly 100 years old. While the exterior appears maintained for its age, there are no interior images provided to assess the condition of the kitchen and bathrooms directly. Given the age and the description indicating it's a 'well performing property' with long-term tenants, it's highly probable that the interiors, especially kitchens and bathrooms, are functional but significantly outdated in style and features. It likely requires minor to moderate updates to bring it to current standards, aligning with the 'Fair' category where the home is aged but maintained, and major components are functional but show signs of being outdated.
Pros & Cons
Pros
Strong Investment Potential: This triplex is explicitly marketed as an 'investor's dream' with existing, well-standing tenants, ensuring immediate and stable rental income for new ownership.
Established Performance & Ownership: The seller's 20+ years of ownership and the property's 'well performing' history indicate a reliable and proven income-generating asset with a track record.
Exceptional Parking Facilities: Features a substantial 20x40 four-car garage and additional ample parking, a significant and highly desirable amenity for a multi-unit property.
Strategic Location: Boasts a prime location with convenient access to major freeways, diverse dining options, city centers, and entertainment, enhancing tenant appeal and property value.
Improved Value Proposition: A recent price reduction from $979,000 to $899,000 presents a more attractive entry point for investors, signaling increased value and competitiveness.
Cons
Advanced Age of Construction: Built in 1925, the property is nearly a century old, suggesting potential for outdated infrastructure (plumbing, electrical), higher maintenance costs, and a need for significant capital expenditures for modernization.
Potential for Deferred Maintenance: As an older income property, it may require substantial investment in repairs, upgrades, or renovations to meet current market expectations, maximize rental income, or address wear and tear.
Initial Pricing Strategy: The recent price reduction indicates the property may have been initially overpriced or has faced challenges in attracting buyers at its original listing price, potentially affecting market perception.