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285 W Center St 9 Unit Apartment Building $1,799,000 ($199,889/Unit) 4.96% Cap Rate Pomona, CA 91768
INVESTMENT HIGHLIGHTS
- All One-Bedroom Units Averaging ±830 SF
- Strong Rental Demand in Central Pomona
- Low-Vacancy Asset with Operational Upside
- (6) Renovated Interiors with Updated Water Lines & Electrical
- On-Site Parking Lot with (9) Open Parking Spaces
- Attractive Value-Add Opportunity in a Growing Submarket
EXECUTIVE SUMMARY
Morgan Skenderian, Inc. is pleased to present 285 W. Center Street, a 9-unit apartment community located in the heart of Pomona. The property consists entirely of spacious one-bedroom units averaging approximately ±830 square feet each. Six of the interiors have been thoughtfully renovated, including upgraded water lines, electrical improvements, and modern finishes, providing immediate appeal to prospective tenants. Residents benefit from on-site open parking with nine dedicated spaces located at the rear of the building. With a combination of large floorplans, upgraded units, and strong local rental demand, the property offers investors a stable asset with clear value-add potential.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$151,512
|
$20.23
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,545
|
$0.61
|
| Effective Gross Income |
$146,967
|
$19.63
|
| Taxes |
$25,371
|
$3.39
|
| Operating Expenses |
$32,304
|
$4.31
|
| Total Expenses |
$57,675
|
$7.70
|
| Net Operating Income |
$89,292
|
$11.92
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $151,512 |
| Annual Per SF | $20.23 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $4,545 |
| Annual Per SF | $0.61 |
| Effective Gross Income | |
|---|---|
| Annual | $146,967 |
| Annual Per SF | $19.63 |
| Taxes | |
|---|---|
| Annual | $25,371 |
| Annual Per SF | $3.39 |
| Operating Expenses | |
|---|---|
| Annual | $32,304 |
| Annual Per SF | $4.31 |
| Total Expenses | |
|---|---|
| Annual | $57,675 |
| Annual Per SF | $7.70 |
| Net Operating Income | |
|---|---|
| Annual | $89,292 |
| Annual Per SF | $11.92 |
PROPERTY FACTS
| Price | $1,799,000 | Building Class | C |
| Price Per Unit | $199,889 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 7,488 SF |
| Cap Rate | 4.96% | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.87 | No. Stories | 3 |
| No. Units | 9 | Year Built | 1914 |
| Property Type | Multifamily | Parking Ratio | 1.33/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | POCIND* | ||
| Price | $1,799,000 |
| Price Per Unit | $199,889 |
| Sale Type | Investment |
| Cap Rate | 4.96% |
| Gross Rent Multiplier | 11.87 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,488 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1914 |
| Parking Ratio | 1.33/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | POCIND* |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 9 | $1,402 | 830 |
1 1
Walk Score®
Walker's Paradise (93)
PROPERTY TAXES
| Parcel Number | 8336-023-011 | Total Assessment | $1,552,973 |
| Land Assessment | $765,550 | Annual Taxes | $25,371 ($3.39/SF) |
| Improvements Assessment | $787,423 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
8336-023-011
Land Assessment
$765,550
Improvements Assessment
$787,423
Total Assessment
$1,552,973
Annual Taxes
$25,371 ($3.39/SF)
Tax Year
2025
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285 W Center St
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