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Sold for $1,372,000
  • Listed by: MARCUS & MILLICHAP • Douglas McCauley • Contact: 909-456-3493
    Bought with: PAEZ REALTY COMPANY
    $1,372,000

    721 Corvette Dr, Ontario, CA 91764

    10beds
    7baths
    4,165sqft
    Multi Family
    Built in 1987
    -- sqft lot
    $1,368,900 Zestimate®
    $329/sqft
    $1,991 Estimated rent

    Home value

    $1,368,900

    $1.25M - $1.51M

    $1,991/mo

    Zestimate® history
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    What's special

    Private patios or balconiesPitched tile roofCopper plumbingIndividual hot water heaters
    ****1 of 3 Property Portfolio: 3241 Inland Empire Blvd, 3132 Triumph Lane**** pleased to exclusively present the opportunity to acquire a well-maintained, townhome-style multifamily investment property located at 721 North Corvette Drive in Ontario, CA, one of the Inland Empire’s most dynamic and rapidly growing rental markets. Constructed in 1987, this two-story, single-building asset comprises four units situated on a 0.24-acre parcel and has 4,165 square feet of rentable living area. The property features an attractive unit mix that includes 1- two-bedroom/one-bathroom townhome; 1- two-bedroom/one-and-one-half-bathroom townhome and 2- three-bedroom/one-and-one-half-bathroom townhomes. Each unit is equipped with central air conditioning and heating, in-unit washer and dryer hook-ups, dishwashers, individual hot water heaters, and separate gas and electric metering. The property benefits from copper plumbing, pitched tile roof, and select units offer a fireplace, and private patios or balconies. Parking is ample and secure with attached garages consisting of two double-car garages, two single-car garages, and four additional open spaces. The asset is also eligible for attractive 30-year fixed-rate financing and there is no HOA. Ontario is widely regarded as one of the most compelling multifamily investment markets in the Inland Empire, driven by sustained population growth, robust job creation, and relative affordability compared to coastal Southern California markets. The city offers exceptional regional connectivity via Interstates 10, 15, and 60, as well as close proximity to Ontario International Airport, a major logistics and transportation hub. Ontario’s diverse employment base is anchored by logistics and distribution, healthcare, education, manufacturing, and public-sector employment, providing a stable and expanding tenant base. In addition, Ontario’s quality-of-life amenities continue to strengthen its live-work-play appeal. Major attractions such as Ontario Mills, along with ongoing sports, entertainment, and mixed-use development throughout the city, further enhance rental demand and long-term market fundamentals. This offering represents an excellent opportunity to acquire a well-located, townhome-style apartment property with desirable unit features, strong tenant appeal, and long-term upside in one of the Inland Empire’s most resilient and affordable rental markets.

    Zillow last checked:

    Listing updated:

    Listed by:

    Douglas McCauley 626-695-6776,

    MARCUS & MILLICHAP,

    David Covarrubias DRE #01941403,

    MARCUS & MILLICHAP

    Bought with:

    William Melton, DRE #01342816

    PAEZ REALTY COMPANY

    Source: CRMLS,MLS#: CV26015948MLS LogoOriginating MLS: California Regional MLS

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 10
    • Bathrooms: 7
    Appliances
    • Laundry: Common Area, Washer Hookup, Electric Dryer Hookup
    Features
    • Common walls with other units/homes: 2+ Common Walls
    Interior area
    • Total structure area: 4,165
    • Total interior livable area: 4,165 sqft

    Property

    Parking
    • Total spaces: 12
    • Parking features: Garage, On Site
    • Garage spaces: 8
    • Uncovered spaces: 4
    Features
    • Entry location: Front
    • Pool features: None
    Lot
    • Size: 10,374 Square Feet
    • Features: Street Level
    Details
    • Parcel number: 0210411280000
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Multi Family
    • Attached to another structure: Yes
    Condition
    • New construction: No
    • Year built: 1987

    Utilities & green energy

    • Sewer: Public Sewer
    • Water: Public

    Community & HOA

    Community
    • Features: Curbs, Street Lights, Sidewalks
    Location
    • Region: Ontario

    Financial & listing details

    • Price per square foot: $329/sqft
    • Tax assessed value: $806,546
    • Annual tax amount: $9,144
    • Date on market: 1/22/2026
    • Cumulative days on market: 6 days
    • Listing terms: Cash,Cash to New Loan
    • Tenant pays: Electricity, Gas

    Price history

    DateEventPrice
    4/13/2026Sold$1,372,000-7%$329/sqft
    Source: CRMLS #CV26015948 Report a problem
    3/10/2026Pending sale$1,475,000$354/sqft
    Source: CRMLS #CV26015948 Report a problem
    1/30/2026Contingent$1,475,000$354/sqft
    Source: CRMLS #CV26015948 Report a problem
    1/22/2026Listed for sale$1,475,000+1893.2%$354/sqft
    Source: CRMLS #CV26015948 Report a problem
    5/11/2007Sold$74,000-84.4%$18/sqft
    Source: Public Record Report a problem
    7/29/2003Sold$474,000$114/sqft
    Source: Public Record Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2025$9,144 +9.4%$806,546 +2%
    2024$8,361 +2.4%$790,731 +2%
    2023$8,168 +1.9%$775,227 +2%
    2022$8,018 +0.9%$760,026 +2%
    2021$7,948 +1.8%$745,124 +1%
    2020$7,803 +0.4%$737,483 +2%
    2019$7,773 +2.6%$723,023 +2%
    2018$7,577 +3.8%$708,846 +2%
    2017$7,298 $694,947 +2%
    2016$7,298 +1.3%$681,320 +1.5%
    2015$7,202 +0.7%$671,086 +2%
    2014$7,152 $657,940 +13%
    2013-- $582,400 +10.9%
    2012-- $525,000
    2011-- $525,000 -16%
    2010-- $624,828 -0.2%
    2009-- $626,313 +2%
    2008-- $614,033 -2%
    2007-- $626,859 +27.1%
    2006-- $493,150 +2%
    2005-- $483,480 +2%
    2004-- $474,000 +15.7%
    2003-- $409,682 +38.9%
    2002-- $295,000 +8.9%
    2001-- $271,000 +9%
    2000-- $248,591
    Find assessor info on the county website

    Neighborhood: Ontario Center

    Nearby schools

    GreatSchools rating
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    Estimated market value
    $1,368,900
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    Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
    Estimated market value
    $1,368,900