Historical Multifamily Sale Listing - 13% CASH RETURN! - 7 UNITS POMONA

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13% CASH RETURN! - 7 UNITS POMONA

640 Linden Street, Pomona, CA 91766

N/A

7 Units | Multifamily

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Multifamily Property - Off Market

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

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

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.

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

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