$675,000
The subject property is a ±3.18 acre parcel of land (APN #0238-152-02) located just southeast of the intersection of E. Francis Street and Milliken Avenue in the city of Ontario. This entire property is subject to an easement with Southern California Edison that is due to overhead high voltage transmission lines.
There is a Verizon Wireless cell site on the subject property, Verizon has been a tenant since 2004. The newest Verizon lease started on April 1, 2024 and runs for 5 years. Verizon also has three 5-year extensions. The current income from this lease is $2,652 per month ($31,827 annually) with rent increases of 3% yearly. Verizon Wireless is responsible for insurance and they are also responsible for complying with the Brush Code requirements and clearing any overgrown brush at the property twice a year at their sole cost and expense. Owner is responsible for property taxes.
Zoning on this property is UC (Utilities Corridor). The UC zoning district is consistent with, and implements, the Open Space-Nonrecreational land use designation of the Policy Plan component of The Ontario Plan. The allowable and permitted uses for the subject include Outdoor Vehicle Storage, Plug-In Electric Charging Facilities, Agriculture and Garden/Nursery uses. The Edison easement does not allow the parking of autos/trucks on the subject property.
PW26236391
MLS
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Active
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E Francis St, Ontario
