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$2,650,000
Est. payment /mo
8,104 SqFt
UPDATED:
09/26/2024 12:26 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,104 sqft
Price per Sqft $326
MLS Listing ID CL24441717
HOA Y/N No
Year Built 1955
Lot Size 0.401 Acres
Acres 0.4
Property Sub-Type Other
Property Description
We are pleased to exclusively present the Wilson Street Apartments, a well-maintained 10-unit multifamily property located at 1072 West Wilson Street in Pomona, California. This value-add investment opportunity offers a blend of stable, long-term tenancy and significant upside potential in a prime Southern California rental market. Built in 1955, the two-story building consists of ten spacious units, including four one-bedroom/one-bath units and six two-bedroom/one-bath units. The property sits on a large 17,442 square foot corner lot, offering 8,104 rentable square feet. Located in a quiet residential neighborhood, the complex provides tenants with ten enclosed garages and ample street parking. Additional amenities include an on-site laundry facility, a secure gated entrance, and a spacious enclosed courtyard ideal for a children's play area. Each unit is individually metered for gas and electricity and is equipped with a wall-mounted air conditioning unit and a gas wall heater. The property features a stable tenant base, with current rents over 25% below market, offering investors a substantial rental upside and the potential to achieve a Pro Forma CAP rate of 5.74%. Five of the units have been extensively renovated, featuring upgraded flooring, kitchens, and bathrooms. Pomona
Location
State CA
County Los Angeles
Area Listing
Zoning POR3
Interior
Heating Forced Air
Fireplace No
Laundry Community Facility
Building
New Construction No
Others
Tax ID 8357006035
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Listed by Edward Pan • Colliers International Greater Los Angel