322 W Phillips, Ontario, California 91762, Ontario, 91762 - 5 bed, 2 bath
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Ontario, California 91762
This multi-unit property presents a Strong Value Opportunity, listed at $688,000—positioned well below the $753,919 Fair Market Value by 8%. This valuation gap offers $65,919 in Instant Equity. With a Fair Condition Rating, the asset features a 3-bed/1-bath and 2-bed/1-bath configuration, ideal for maximizing rental income. While the interior requires modernization, the Park/Greenbelt View and private alley-access parking enhance long-term desirability. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking house-hacking potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 322 W Phillips Subject | $688,000* List Price | 5 | 2 | 1,881 | $401 | - |
A 521 W Maple Sold | $740,000 | 5 | 3 | 1,743 | $425 | 0.6 mi |
B 1620 S Cypress Avenue Sold | $695,000 | 3 | 2 | 1,554 | $447 | 0.7 mi |
C 1330 S Fern Active | $695,888 List Price | 3 | 2 | 1,554 | $448 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1948, the property shows signs of minor cosmetic maintenance such as newer laminate flooring and the addition of mini-split HVAC units. However, the kitchen cabinetry and interior finishes like knotty pine paneling and acoustic ceiling tiles are significantly dated (30+ years). While functional and move-in ready for tenants, the core systems and wet areas require modernization to meet current market standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7755, living area = 1881.
The property is configured as a multi-unit setup with a 3-bedroom and a 2-bedroom unit, providing immediate cash flow opportunities for investors or a house-hacking option for owner-occupants.
Situated directly across from De Anza Park, the residence offers unobstructed greenbelt views and immediate access to outdoor recreational space, significantly enhancing tenant retention and desirability.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 2.
Built in 1948, the property may require significant capital expenditures for modernizing aging systems such as plumbing, electrical, or roofing to meet contemporary standards.
With only two bathrooms serving a total of five bedrooms across two units, the limited facilities may be a drawback for larger families and could impact the maximum achievable rent.
Unlock exceptional value at 322 W Phillips St, Ontario. This multi-unit setup features 1,881 sq ft interior built on a sizable 7,753 sq ft lot. The property is currently split into two highly independent units: a spacious 3-bedroom, 1-bathroom unit, and a comfortable 2-bedroom, 1-bathroom unit. Situated directly across from a De Anza Park, the property offers tenants immediate access to outdoor green spaces. The property optimizes the spacious lot by providing a dedicated, private alley-access parking area directly in the back of the house. Ideal for a savvy investor looking for immediate cash flow !
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 87% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,881 | 1,595 | 67% |
| Lot Size | 7,755 | 7,347 | 61% |
| Price | $688.0K | $721.2K | 41% |
| Price per sq ft | $366 | $456 | 28% |
| Built year | 1948 | 1961 | 12% |
| HOA | $0 | $0 | 50% |
| Days on market | 4 | 156 | 2% |
Jun 2, 2026
$688,000
Initial Listing
Mar 22, 2019
$420,000
Public Record