1153 E Pasadena Street, Pomona, CA 91767
Property
Sold December 2023
Listing Agent: Kristopher German (DRE #01800021) · Listing Office: RE/MAX 2000 REALTY · Contact: 909-645-0443 · Bought with: Kristopher German · RE/MAX 2000 REALTY · MLS #CV23224522 · Source: CRMLS
About this property
PRICED TO SELL!!! We are pleased to exclusively offer for sale this newly listed 5-unit multi-family residential income property in the city of Pomona. The unit mix consists of ALL 2-Bedroom/1-Bathroom units and boasts the charm of single-story, garden-style construction, ensuring a comfortable and appealing living environment for tenants. A notable aspect of this property is the dual-entry design in each unit, offering both front and rear access. This enhances tenant privacy and accessibility, adding to the property's appeal. The inclusion of garage parking and private patios further elevates the living experience for tenants. Each unit is separately metered for electricity and gas while the owner pays for water and trash. This simplifies utility management and can potentially reduce overhead costs. For investors seeking to add value, there is an intriguing possibility of converting the 5 single-car garages into ADUs, subject to confirmation with city authorities. From a financial perspective, this property is notable for its promising projections. It boasts a proforma CAP rate of 8% and offers a substantial 65% upside potential in rental income. This makes it a compelling investment for those seeking properties with high growth potential. With its combination of desirable layout, value-add potential, and strong financial outlook, this asset is poised to deliver exceptional returns to its new owner.
Listing description from the December 2023 sale, as reported to CRMLS.
Sale history