Investor · Southern California · Member since 2011 · 155 posts · 13 votes
With the transfer of the ownership of the Ontario International Airport to the local municipal, and with the potential expansion of the airport to serve more international flights, I see a potential for house price growth in neighbour areas. Just want to see if anyone has invested in that area, and what returns have you had? What are the areas with the potential and what are the areas to be avoided?
Professional · Palmdale, CA · Member since 2017 · 49 posts · 40 votes
9y
Aaron, I work with a lot of folks investing in the Ontario area. Currently pushing a 4-unit (new construction) building through at the city of Ontario for one of them. Prices are rising steadily. Rental pricing too ($1,800 for a 3-2 unit or home). Still lots of low-end housing available though. Historic homes/properties in the historic area can be a head-ache to purchase or develop, but the equity yield after an addition or major remodel is significant. I drive past distressed homes there every week. I'd look at the areas around Euclid and Holt, and then East from there towards the freeway and airport. I use Redfin to find houses for sale and then to find comps.
Professional · Palmdale, CA · Member since 2017 · 49 posts · 40 votes
9y
Aaron, I work with a lot of folks investing in the Ontario area. Currently pushing a 4-unit (new construction) building through at the city of Ontario for one of them. Prices are rising steadily. Rental pricing too ($1,800 for a 3-2 unit or home). Still lots of low-end housing available though. Historic homes/properties in the historic area can be a head-ache to purchase or develop, but the equity yield after an addition or major remodel is significant. I drive past distressed homes there every week. I'd look at the areas around Euclid and Holt, and then East from there towards the freeway and airport. I use Redfin to find houses for sale and then to find comps.
Contractor · Los Angeles, CA · Member since 2015 · 4k+ posts · 1k+ votes
9y
Upland to Ontario and everything in between is a good place. I had a contract with the city, they are rich as hell, spent 600k to replace their city hall carpet that was installed 5 years ago. Most cities wait 15 years.
New to Real Estate · Chino Hills, CA · Member since 2017 · 23 posts · 8 votes
9y
Most Asian lives in the EAST/SOUTH area of LA like Irvine, Pomona, Rowland Heights, Diamond Bar , Chino Hills etc. Having ONT flying directly TO/FROM China to me means those areas or surrounding areas might get a boost in price.
Contractor · Los Angeles, CA · Member since 2015 · 4k+ posts · 1k+ votes
9y
Not so much so, they are looking to be close to similar communities, the drive to direct flight is not that important, going to ontario is not like going to LAX, asians like less traffic, good community. Good school district is a
must.