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1371 S Reservoir Street

Pomona, CA 91766
  • $1,550,000
  • STATUS: Active
  • ON SITE: 8 Days
  • ID#: SR22171040
UPDATED: 239 min ago
$1,550,000
  • 0
    BEDS
  • 0.4
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1961
County:
Area:

School Ratings & Info

Listing Agent(s): Kunal S. Sethi of Keystone Firm (714-875-8141)


Description

Six unit bread and butter building located in the up and coming city of Pomona in Los Angeles County. The building consists of six 2 bed and 1 baht units. All units are approximately 750 sqft. This single story building is located on a large 17,375 square foot R-4 zoned (*Buyer to investigate) lot which provides the Buyer with an opportunity to develop additional units or redevelop the property in the future. Current rents are approximately $1,404 and the market rents for similar units are around $1,800 which provides a perspective Buyer the opportunity to raise rents to achieve great cash flow and achieve an attractive cap rate. This part of the City of Pomona is currently not under County of Los Angeles rent control (* Buyer to investigate) which allows the perspective Buyer to increase cash flow much faster than similar properties in rent controlled areas. All units are separately metered for gas and electric and the water is billed back to the tenants bi-monthly. All tenants are long term and pay on time. Drive by only! Interior inspection is subject to an accepted offer.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-12T00:29:53.897. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Rogers Realty Group/Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
www.searchsocalrealestate.com/homes/131567545
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1371 S Reservoir Street Pomona, CA 91766

  • Price: $1,550,000
  • Status: Active
  • On Site: 8 Days
  • Updated: 239 min ago
  • ID#: SR22171040
0
Beds
0
Baths
0
½ Baths
0.4
Acres
1961
Built
Neighborhood:
687 - Pomona
County:
Los Angeles
Area:
687 - Pomona
Property Description
Six unit bread and butter building located in the up and coming city of Pomona in Los Angeles County. The building consists of six 2 bed and 1 baht units. All units are approximately 750 sqft. This single story building is located on a large 17,375 square foot R-4 zoned (*Buyer to investigate) lot which provides the Buyer with an opportunity to develop additional units or redevelop the property in the future. Current rents are approximately $1,404 and the market rents for similar units are around $1,800 which provides a perspective Buyer the opportunity to raise rents to achieve great cash flow and achieve an attractive cap rate. This part of the City of Pomona is currently not under County of Los Angeles rent control (* Buyer to investigate) which allows the perspective Buyer to increase cash flow much faster than similar properties in rent controlled areas. All units are separately metered for gas and electric and the water is billed back to the tenants bi-monthly. All tenants are long term and pay on time. Drive by only! Interior inspection is subject to an accepted offer.
Exterior Features

Carport Spaces 3 Carport YN Yes Number Of Separate Electric Meters 6 Open Parking Spaces 6 Parking Total 9 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 1 Common Wall

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Common Interest Community Apartment Community Features SuburbanSidewalks Electric Expense 240 Fuel Expense 0 Garage YN No Gross Income 101088 Gross Scheduled Income 101088 Insurance Expense 1800 Land Lease YN No Laundry Features None Levels One Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash To New Loan1031 Exchange Net Operating Income 72775 New Construction YN No New Taxes Expense 18600 Number Of Separate Gas Meters 6 Number Of Separate Water Meters 1 Number Of Units Leased 6 Operating Expense 25280 Other Expense 2000 Property Sub Type Apartment Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGasWater Total Actual Rent 8404 Trash Expense 1860 Vacancy Allowance Rate 3 Water Sewer Expense 0 Water Source Public Zoning Por4*



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-12T00:29:53.897. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Rogers Realty Group/Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
 
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Rogers Realty Group/Berkshire Hathaway HomeServices California Properties
1063 W Sixth Street
Ontario CA, 91762
Listing Agent(s): Kunal S. Sethi of Keystone Firm (714-875-8141)