Seller's Agent in 2023
Kristopher German
RE/MAX
(909) 645-0443
2 in this area
121 Total Sales
1153 E Pasadena St Pomona, CA 91767
Pomona East Neighborhood
10
Beds
5
Baths
3,815
Sq Ft
0.25
Acres
About This Home
As of December 2023PRICED 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.
Last Agent to Sell the Property
RE/MAX 2000 REALTY License #01800021 Listed on: 12/12/2023
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1954
Lot Details
- 0.25 Acre Lot
- Two or More Common Walls
- Density is 2-5 Units/Acre
Parking
- 5 Car Garage
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 3,815 Sq Ft Home
- 1-Story Property
Bedrooms and Bathrooms
- 10 Bedrooms
- 5 Bathrooms
Outdoor Features
- Rain Gutters
Listing and Financial Details
- Tenant pays for electricity, gas
- Tax Lot 8
- Tax Tract Number 17174
- Assessor Parcel Number 8323015006
- $1,494 per year additional tax assessments
Community Details
Overview
- 5 Units
Building Details
- Rent Control
- 5 Separate Electric Meters
- 5 Separate Gas Meters
- 1 Separate Water Meter
- Insurance Expense $3,500
- Maintenance Expense $3,750
- Other Expense $750
- Trash Expense $4,836
- Water Sewer Expense $2,844
- New Taxes Expense $12,454
- Operating Expense $28,134
- Gross Income $70,296
- Net Operating Income $40,053
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/29/2023 12/29/23 | Sold | $1,050,000 | 0.0% | $275 / Sq Ft |
| 12/12/2023 12/12/23 | For Sale | $1,050,000 | -- | $275 / Sq Ft |
| 12/11/2023 12/11/23 | Pending | -- | -- | -- |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Kristopher German
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV23224522
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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