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1516 W Stoneridge Court, Ontario, California 91762, Ontario, 91762 - 2 bed, 1 bath

1516 W Stoneridge Court, Ontario, California 91762 home-pic-0
ACTIVE$599,000
1516 W Stoneridge Court, Ontario, California 91762
2Beds
1Bath
703Sqft
13,320Lot

Price Vs. Estimate

The estimated value ($540,663.85) is $58,336.15 (9%) lower than the list price ($599,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 13320, living area = 703.
Top Cons:
Limited Interior Living Space: With only 703 sqft, 2 bedrooms, and 1 bathroom, the current home offers a relatively small living area, which may not meet the needs of all buyers seeking a larger residence.

Compared to the nearby listings

Price:$599.0K vs avg $751.0K ($-152,000)9%
Size:703 sqft vs avg 1,830.5 sqft1%
Price/sqft:$852 vs avg $41299%

More Insights

Built in 1952 (73 years old).
Condition: The property, built in 1952, has been 'recently remodeled' and is move-in ready, as stated in the description. Images confirm significant cosmetic updates including new LVP flooring throughout, fresh paint, modern stainless steel kitchen appliances, and an updated bathroom with a contemporary vanity and glass shower. However, the kitchen cabinets and countertops, while clean and functional, are not of the most current style. A key factor preventing an 'Excellent' score is the heating and cooling system, which relies on wall-mounted gas heaters and window AC units, indicating a lack of central HVAC. While the property is well-maintained and has undergone substantial updates, it has not received a full, top-tier renovation across all major systems and finishes to be considered 'Excellent'.
Year Built
1952
Close
-
List price
$599K
Original List price
$629K
Price/Sqft
$852
HOA
$142
Days on market
-
Sold On
-
MLS number
IV25221572
Home ConditionGood
Features
View-

About this home

Unique Investment Opportunity in Prime Central Location Don’t miss this rare chance to own a unique property with a massive lot in a highly desirable location. Just minutes from restaurants, grocery stores, shopping malls, public transportation, and top colleges and universities, this property offers both comfort and incredible future potential. The true value is in the land—just a few lots over, new 6-unit developments are underway, highlighting the strong investment opportunity this property presents. Inside, you’ll find a recently remodeled home that’s move-in ready. Everything you need is included—furniture, appliances, games, and kitchenware—making it perfect as a rental, short-term stay, or personal residence. The home is also equipped with a water filtration system, providing healthier water for cooking, showering, and daily use. With its central location, large lot size, and investment potential, this property is perfect for buyers looking to live comfortably now while planning for the future. Highlights: • Huge lot with development potential • Central location near shopping, dining, transit & schools • Recently remodeled and fully furnished • Includes all appliances, furniture, and household essentials • Healthy water filtration system installed ?? Investor’s dream, move-in ready today—schedule a showing before it’s gone!

Condition Rating
Good
The property, built in 1952, has been 'recently remodeled' and is move-in ready, as stated in the description. Images confirm significant cosmetic updates including new LVP flooring throughout, fresh paint, modern stainless steel kitchen appliances, and an updated bathroom with a contemporary vanity and glass shower. However, the kitchen cabinets and countertops, while clean and functional, are not of the most current style. A key factor preventing an 'Excellent' score is the heating and cooling system, which relies on wall-mounted gas heaters and window AC units, indicating a lack of central HVAC. While the property is well-maintained and has undergone substantial updates, it has not received a full, top-tier renovation across all major systems and finishes to be considered 'Excellent'.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 13320, living area = 703.
Significant Development Potential: The massive lot size, coupled with ongoing 6-unit developments in the vicinity, presents a strong opportunity for future expansion or multi-unit construction.
Prime Central Location: The property boasts a highly desirable location, offering excellent proximity to essential amenities including dining, shopping centers, public transportation, and educational institutions.
Move-in Ready & Recently Remodeled: The home has undergone recent remodeling, making it immediately habitable and reducing the need for immediate renovation costs for a new owner.
Turnkey Furnished Property: The inclusion of all furniture, appliances, and household essentials makes this property ideal for immediate rental income (short-term or long-term) or personal use without additional setup.
Strong Investment Opportunity: Explicitly highlighted as an 'investor's dream,' the property offers substantial investment potential driven by its land value, development prospects, and readiness for rental income.

Cons

Limited Interior Living Space: With only 703 sqft, 2 bedrooms, and 1 bathroom, the current home offers a relatively small living area, which may not meet the needs of all buyers seeking a larger residence.
Age of Original Structure: Built in 1952, the property's underlying structure is over 70 years old. While remodeled, older homes can present unforeseen maintenance challenges or require significant upgrades beyond cosmetic improvements over time.
Recent Price Reductions: The property has experienced multiple price reductions since its initial listing, which could suggest an overestimation of its market value or slower-than-expected buyer interest at previous price points.

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