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A high-cashflow and high-return 9-unit Value-Add Opportunity in the East San Gabriel Valley area. Offered at extremely high ±7.62% Current CAP (buyer to verify) and low 8.46x GRM, this offering provides a whopping ±9.95% Cash-on-cash return (on a 65% LTV and ±6.5% interest rates – buyer to verify) w...hich arguably is one of the best cashflow deal in a primary submarket in LA County. The property is strategically located on Hamilton Blvd crossing Holt Ave which is a major commercial street in the area. This provides consistent and high demand for rental units due to its friendly transit location. The property is only minutes away from Cal Poly Pomona, Pomona Fairplex, Claremont, San Dimas, La Verne and other well-known cities in East San Gabriel Valley.
The property was built in 1947 and is a combination of 3 buildings; the front building is a 2-story building and has 5 units, and the back 2 buildings are single-story building with 2 units/building. It has a total of 2,632 SF living area and is sitting on a large ±9,195 SF C4 zone. It offers a good unit mix of one 2bed+1bath, seven large studios, and one small studio. All units have been upgraded with new flooring, a new kitchen, and a new bathroom (buyer to verify). All units are market rate units; however, most of them are rented out to subsidized tenants providing security, stability and recession proof for the owner. The sale comes with an approved plan to convert the attic space in the front building into a 3-bedroom+2-bathroom unit which should bring additional cashflow on top of the already high cashflow.
Parking is provided by seven/eight open space parking in the front and the middle area of the lot. The property is master metered for electricity and gas, but the owner has RUBS system in place. There was a laundry area with laundry hookups that new owner can reutilize and bring additional laundry income.
Centrally located in Pomona, CA and just within minutes to Cal Poly Pomona, Fairplex Pomona, Claremont, La Verne, San Dimas, Phillips Ranch, and other well-known cities in the area. It is minutes away from Lake Bonelli area, Raging Waters, dining and transportation on Holt Ave. It offers superb access to multiple freeways (FWY 10, FWY 71, and FWY 57).
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MLS#
AR25055825
Property Type
Apartment
Year Built
1947
Lot Size
0.21
Stories
2.0
Sewer
Sewer Connected, Public Sewer
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