475 E Foothill Blvd Pomona, CA 91767
Pomona Valley NeighborhoodEstimated payment $42,856/month
Highlights
- 1.03 Acre Lot
- No HOA
- Laundry Room
- El Roble Intermediate School Rated A-
- Community Pool
About This Home
A rare opportunity to acquire a value-add 60-unit extended stay property being operated as a multifamily community in Pomona, California. Foothill Suites is located in the northernmost section of Pomona, which anchors the eastern end of Los Angeles County. This serves as a gateway city to the powerful Los Angeles employment base and the Inland Empire, a region with a population of approximately four million people. The city is surrounded by vibrant and affluent communities like La Verne to the west and Claremont to the east, and the submarket is known as a powerhouse of higher learning institutions. It is conveniently situated just 2 miles from the prestigious Claremont Colleges, including Claremont McKenna College, Pomona
College, Scripps College, Harvey Mudd College, and Pitzer College. Additionally, Foothill Suites is a short car ride away from other prominent educational institutions such as Cal Poly Pomona, University of La Verne, and Western University of Health Sciences.
Comprising 36 studios and 24 one-bedroom units, the property is designed to cater to the diverse housing needs of its residents. Foothill Suites offer convenience and amenities such as a swimming pool, controlled access for enhanced security, on-site laundry facility, and sixty open space parking spaces, ensuring practicality for residents. The building features a manager's office and is master metered for all utilities. The City of Pomona has rent control, buyer to verify.
Presently, the property’s vacancy rate is 15%, and the current Pomona sub-market vacancy rate is 3.45%. This delta of 11.55% vacancy upside through active management gives the new investor a substantial upside in rental income. In addition, Foothill Suites would greatly benefit from implementing the Ratio Utility Billing System (RUBS), this would add a sizable increase directly to the net operating income of the building.
Given the property’s upside potential, desirable location, and connectivity between major employment centers in Los Angeles and the Inland Empire, Foothill Suites is poised to deliver meaningful returns and appreciation to investors over the next hold period.
Listing Agent
MARCUS & MILLICHAP Brokerage Phone: 626-695-6776 Listed on: 06/12/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $44,351
Year Built
- Built in 1969
Lot Details
- 1.03 Acre Lot
- Two or More Common Walls
Parking
- 60 Parking Spaces
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 22,686 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 2 Bedrooms
- 3 Bathrooms
Listing and Financial Details
- Tax Lot 42
- Tax Tract Number 17289
- Assessor Parcel Number 8304014014
- $8,692 per year additional tax assessments
Community Details
Overview
- No Home Owners Association
- 60 Units
Amenities
- Laundry Facilities
Recreation
- Community Pool
Building Details
- Rent Control
- 1 Separate Electric Meter
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Electric Expense $59,596
- Fuel Expense $21,838
- Gardener Expense $1,200
- Insurance Expense $35,003
- Maintenance Expense $39,500
- Pool Expense $3,744
- Professional Management Expense $53,595
- Trash Expense $9,875
- Water Sewer Expense $16,690
- New Taxes Expense $91,875
- Operating Expense $332,916
- Gross Income $786,511
- Net Operating Income $453,595
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $44,351 | $3,228,056 | $1,482,143 | $1,745,913 |
| 2024 | $44,351 | $3,164,762 | $1,453,082 | $1,711,680 |
| 2023 | $43,517 | $3,102,709 | $1,424,591 | $1,678,118 |
| 2022 | $42,812 | $3,041,872 | $1,396,658 | $1,645,214 |
| 2021 | $42,096 | $2,982,228 | $1,369,273 | $1,612,955 |
| 2019 | $40,308 | $2,893,775 | $1,328,660 | $1,565,115 |
| 2018 | $38,661 | $2,837,035 | $1,302,608 | $1,534,427 |
| 2016 | $36,015 | $2,726,872 | $1,252,027 | $1,474,845 |
| 2015 | $35,399 | $2,685,913 | $1,233,221 | $1,452,692 |
| 2014 | $35,008 | $2,971,428 | $1,383,251 | $1,588,177 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/17/2025 07/17/25 | Price Changed | $7,350,000 | -5.8% | $324 / Sq Ft |
| 06/12/2025 06/12/25 | For Sale | $7,800,000 | -- | $344 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Trustee Deed | $2,000,000 | None Available | |
| Grant Deed | $4,600,000 | Chicago Title Co | |
| Interfamily Deed Transfer | -- | Lawyers Title | |
| Grant Deed | $4,000,000 | Lawyers Title | |
| Partnership Grant Deed | -- | Lawyers Title |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $1,000,000 | Commercial | |
| Closed | $1,000,000 | Commercial | |
| Previous Owner | $2,900,000 | Commercial | |
| Previous Owner | $2,000,000 | Commercial | |
| Previous Owner | $2,000,000 | Seller Take Back |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV25132036
APN: 8304-014-014
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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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