718 S Vine Avenue A, Ontario, California 91762, Ontario, 91762 - bed, bath
ACTIVE$825,000
718 S Vine Avenue A, Ontario, California 91762
0Bed
0Bath
1,720Sqft
7,500Lot
Price Vs. Estimate
The estimated value ($746,717.29) is $78,282.71 (9%) lower than the list price ($825,000). 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 = 7500, living area = 1720.
Top Cons:
Age of Primary Residence: The main house, built in 1919, may present challenges related to older infrastructure, potential for unforeseen repairs, and less modern layouts compared to newer homes.
Compared to the nearby listings
Price:$825.0K vs avg $756.0K (+$69,000)68%
Size:1,720 sqft vs avg 1,830.5 sqft46%
Price/sqft:$480 vs avg $41267%
More Insights
Built in 1919 (106 years old).
Condition: The property features a newly built (12/2024) 2-bedroom, 2-bathroom ADU with modern finishes, including a new kitchen with grey shaker cabinets, white countertops, and stainless steel appliances, and a modern bathroom. While the main house (built 1919) has a dated kitchen with white tile and older appliances, the property benefits from recent major system upgrades such as a new sewer line and electrical breaker box. The overall condition is elevated to 'Good' due to the substantial new construction and critical infrastructure updates, making a significant portion of the property move-in ready, despite the older main house requiring some cosmetic updates.
Year Built
1919
Close
-
List price
$825K
Original List price
$825K
Price/Sqft
$480
HOA
-
Days on market
-
Sold On
-
MLS number
DW25196605
Home ConditionGood
Features
Patio
View-
About this home
2 BEDROOMS 1 BATH HOME plus NEW DETACHED ADU 2 BED 2 BATHS BUILT on YEAR 12/2024,EXISTING DETACHED 2 CAR GARAGE (720 SQ.FT.) TO ACCESSORY DWELLING UNIT. NEW PATIO COVER 16' X14' (224 SQ.FT.) ATTACHED TO ADU' with fence around, 4 parking spaces in the rear yard and alley access, new sewer line and electric breakers box, close to the area of Euclid and Mission Blvd, street improvements on Mission Blvd. Several fruit trees around the property including mango, avocado, guayabo trees. Front home with laundry room can be used as a bonus room. concrete Driveway with alley access. additional 2 storage tiny homes for tools and staff. Extra unit 1 Studio 1 bathroom to help with monthly payment.
Condition Rating
Good
The property features a newly built (12/2024) 2-bedroom, 2-bathroom ADU with modern finishes, including a new kitchen with grey shaker cabinets, white countertops, and stainless steel appliances, and a modern bathroom. While the main house (built 1919) has a dated kitchen with white tile and older appliances, the property benefits from recent major system upgrades such as a new sewer line and electrical breaker box. The overall condition is elevated to 'Good' due to the substantial new construction and critical infrastructure updates, making a significant portion of the property move-in ready, despite the older main house requiring some cosmetic updates.
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 = 7500, living area = 1720.
Multi-Unit Income Potential: The property features a main home, a newly built 2-bed/2-bath detached ADU (12/2024), and an additional studio unit, offering substantial rental income or multi-generational living opportunities.
Extensive Recent Upgrades: Benefits from a brand-new ADU, new patio cover, updated sewer line, and a new electrical panel, significantly reducing immediate capital expenditures for a buyer.
Ample Parking & Accessibility: Provides four dedicated parking spaces in the rear yard with convenient alley access, a crucial asset for a multi-unit property and tenant convenience.
Desirable Outdoor Features: A spacious 7500 sq. ft. lot includes mature fruit trees (mango, avocado, guayabo) and a new patio cover, enhancing curb appeal and offering attractive outdoor living space.
Strategic Location & Infrastructure: Positioned near key thoroughfares (Euclid & Mission Blvd) with recent street improvements, indicating an accessible and potentially appreciating area.
Cons
Age of Primary Residence: The main house, built in 1919, may present challenges related to older infrastructure, potential for unforeseen repairs, and less modern layouts compared to newer homes.
Overpriced Relative to Market Estimate: The list price of $825,000 is approximately 8.5% above the estimated market value of $760,141.78, potentially limiting buyer interest or requiring price adjustments.
Management Complexity of Multiple Units: Operating a property with three distinct living units (main house, 2B/2B ADU, studio ADU) can entail increased management responsibilities and potential tenant-related complexities.