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3121 Michelson Drive, Suite 400
Irvine, CA 92612
Irvine Office
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Assumable In-Place Financing: $31,000,000 Fannie Mae mortgage originated in 2019 at a 3.73% fixed rate with full-term interest-only payments can be assumed to enhance returns for a new investor. The 10-year term mortgage matures on May 1, 2029. See Berkadia Document Center for loan documents.
Rare & Desirable Townhomes: Built in 2009, Ontario Town Square is the only institutionally sized (100+ units) rental townhome community built in Ontario in the last 40 years. Further distinguished by an ultra-low density campus (26 DU/AC), two-car direct-access garages, and the largest average unit size (1,494 sq. ft.) in the city, the community meets a resident demand not otherwise available in the city.
Value-Add Opportunity: A renovation strategy focused on modernizing the still original condition interiors of Ontario Town Square will further differentiate the community in order to meet the preferences of an under-supplied demand segment in the dynamic and rapidly growing submarket.
Fastest-Growing Job Market: With a booming healthcare sector and one of the strongest industrial hubs in the country, the Inland Empire job market has been expanding at a rate unmatched in California. From 2014 to 2024, employment surged by 29.4% – outpacing every major metro in the state. Furthermore, Ontario International Airport (3.5 miles away) continues to act as a major economic engine of the Inland Empire. It is recognized as one of the fastest-growing airports in the nation and the 10th-largest cargo airport in North America.
Rapidly Growing Population: Since 2000, the Inland Empire’s population has grown 34x faster than the construction of institutional-quality apartment homes. The region’s population is forecasted to grow by another 299,915 (6.3%) over the next five years, outpacing every other metro in California and the construction of new housing.
Prime Downtown Ontario Location: Downtown Ontario is a vibrant and walkable neighborhood with a complete offering of services and lifestyle amenities appealing to young adults and families alike. With homes in the immediate vicinity selling for an average of $764,000, and many exceeding $1 million and few to none less than $600,000, Ontario Town Square is a compelling housing choice to live in the neighborhood in a large rental townhome for roughly a 70% discount to the cost of home ownership.
Investment Highlights
A 2009-Built, 140-Unit Townhome Style Value-Add Investment Opportunity With Accretive Assumable Financing at 3.73% Fixed
Berkadia, as exclusive advisor, is pleased to present for sale Ontario Town Square Townhomes (the “Property” or “Ontario Town Square”), a 140-unit value-add investment opportunity located in Ontario, California. The investment opportunity is further enhanced by the ability to assume the accretive in-place financing, which features a 3.73% fixed interest rate and full-term interest-only payments, maturing on May 1, 2029.
ONTARIO TOWN SQUARE TOWNHOMES
THE OPPORTUNITY
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330-380 East Bluebird PrivadoOntario, CA 91764
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RYAN FITZPATRICK Senior Managing Director
DRE# 01314070
714.614.7002
ryan.fitzpatrick@berkadia.com
CHELSEA JERVIS Managing Director
DRE# 01964154
949.244.9810
chelsea.jervis@berkadia.com
CJ ANGLE Managing Director
DRE# 02074015
949.573.0931
cj.angle@berkadia.com
CHARLIE HAGGARD Senior Managing Director949.572.9442
charlie.haggard@berkadia.com
KEVIN MIGNOGNA Senior Managing Director619.622.9238
kevin.mignogna@berkadia.com
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MARY ANN KINGCo-head of Berkadia Institutional Solutions
CA DRE #01323188
949.242.4070
maryann.king@berkadia.com
BRETT BETZLERSenior Managing Director
CA DRE #01330214
949.981.1196
brett.betzler@berkadia.com
Lee ScottSenior Director858.257.4705lee.scott@berkadia.com