This Multifamily Property is Off-Market.

640 Linden Street
Pomona, CA 91766 ·

7 Units · Multifamily For Sale

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13% CASH RETURN! - 7 UNITS POMONA

Price N/A Commission Split 2.5%
No. Units 7 Cap Rate 5.86%
Building Size 3,238 SF Gross Rent Multiplier 10.64
Property Type Multifamily Year Built 1948
Property Sub-type Garden/Low-Rise Lot Size 7,793 SF
Property Use Type Investment APN / Parcel ID 8335022033
Listing ID: 18201545 Date Created: 06/03/2013 Last Updated: 10/22/2013

Description

JUST REDUCED! SELLER IS MOTIVATED! We are pleased to exclusively offer for sale this 7 unit multi-family property located at the desirable rental community of Pomona. This investment offers a substantial amount of upside in rental income equating to nearly a 13% cash-on-cash return. The subject property is situated on a large corner lot and consists of all single story construction. The rental units are spread among 6 separate detached buildings which give the tenants privacy and very few common/shared walls. The unit mix is comprised of 1(3bed+2bath)sfr, 1(2bed+1.5bath)sfr, 3(1bed+1bath)s, and 2(studios). Recent improvements include new roof, and all kitchens, bathrooms, and shower walls have been tiled. The main water line from the street to the units has been replaced. There is an onsite laundry room and garage parking for one of the sfr units. There is currently an onsite manager (2+1.5 unit) which will vacate or pay a higher rent at the close of escrow. Currently their rent is $500 after credit for management. With the increase of potential rental income from that single unit, that would add $6,000 to a new investor's annual income.

South of the 10 freeway between Garey & Towne Avenue just south of Mission Blvd.

Highlights

  • ALL SINGLE STORY CONSTRUCTION 6 SEPARTATE STRUCTURES
  • 100% OCCUPIED
  • SUBSTANTIAL UPSIDE IN RENTAL INCOME
  • NEW MAIN WATER LINE FROM STREET TO THE UNITS & NEW ROOF
  • LAUNDRY ROOM AVAILABLE
  • RECENT IMPROVEMENTS TO THE UNITS

Research

640 Linden Street, Pomona, CA 91766 (Los Angeles County)

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