640 Linden Street
Pomona, CA 91766 ·
7 Units · Multifamily For Sale
13% CASH RETURN! - 7 UNITS POMONA
|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|
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.
- 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
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