Updated Oct 28, 2024
Edison Ranch LLC Acquires 18.56 Acre Development Site In Ontario, CA For $8.25M
7914 Edison Avenue, Ontario, CA, USA
$8,250,000
$10/SF
Building Size
808,474 SF
Asset Type
Development Site
Closing
May 6, 2021
About this deal
AI
An 18.56-acre agricultural land located at 7914 Edison Ave in Ontario, Inland Empire West, has been sold. The buyer, Edison Ranch LLC, purchased the property from the Donker Family Trust. The transaction was brokered by Eric S. Chavez of Chavez & Associates REBF Inc. The sale price for the development site was $8,250,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $8,250,000
The property is situated in the Ontario Ranch, a master-planned community in the southern portion of Ontario, California. The land, designated as Medium Density Residential, is part of the Ontario Plan for future development. Chavez & Associates REBF Inc.'s builder division, CAREBF Builder Services, will handle the development and construction of a 400-unit multi-family project on the site. The estimated value of the project is over $86 million. The Ontario Ranch community is conveniently located near major highways and offers a range of amenities.
Ontario Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.92%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93