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$1,220,000
Est. payment /mo
7,074 Sqft Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR26175151
HOA Y/N No
Year Built 1960
Lot Size 7,074 Sqft
Property Sub-Type Apartment
Property Description
Fully occupied six-unit multifamily property featuring six 1-bedroom/1-bath units, located on a quiet, tree-lined residential street in a high-demand rental area. Gate property and new roof.
One of the property's strongest advantages is its exceptional entry price. A comparable 6-unit property on Karesh Avenue, 602 Karesh Ave., is currently offered at $1,320,000. This property is offered at just $1,220,000 — approximately $100,000 less, creating an attractive opportunity for investors seeking value and rental upside.
The property features six spacious 1-bedroom/1-bath units, a desirable unit configuration that is easy to rent and straightforward to manage. The property is 100% occupied with long-term tenants, providing immediate in-place income and stability.
Additional highlights include a quiet tree-lined street, attractive courtyard, abundant parking, and individual electric metering throughout the complex, helping keep operating expenses manageable. The property is in good condition and offers an investor the opportunity to acquire a well-established multifamily asset without the operational complexity often associated with larger apartment buildings.
The units feature large, spacious living areas and bedrooms, along with walk-in closets, providing desirable living space for tenants.
Current rents are below market, creating meaningful potential for future rental growth and increased cash flow, subject to applicable laws and market conditions.
The location provides convenient access to shopping, restaurants, grocery stores, employment centers, schools and major transportation routes. The Valley Shopping Center, for example, is located in the 91767 area near Arrow Highway and Towne Avenue, while Pomona offers a broad range of shopping, dining and everyday services.
One of the property's strongest advantages is its exceptional entry price. A comparable 6-unit property on Karesh Avenue, 602 Karesh Ave., is currently offered at $1,320,000. This property is offered at just $1,220,000 — approximately $100,000 less, creating an attractive opportunity for investors seeking value and rental upside.
The property features six spacious 1-bedroom/1-bath units, a desirable unit configuration that is easy to rent and straightforward to manage. The property is 100% occupied with long-term tenants, providing immediate in-place income and stability.
Additional highlights include a quiet tree-lined street, attractive courtyard, abundant parking, and individual electric metering throughout the complex, helping keep operating expenses manageable. The property is in good condition and offers an investor the opportunity to acquire a well-established multifamily asset without the operational complexity often associated with larger apartment buildings.
The units feature large, spacious living areas and bedrooms, along with walk-in closets, providing desirable living space for tenants.
Current rents are below market, creating meaningful potential for future rental growth and increased cash flow, subject to applicable laws and market conditions.
The location provides convenient access to shopping, restaurants, grocery stores, employment centers, schools and major transportation routes. The Valley Shopping Center, for example, is located in the 91767 area near Arrow Highway and Towne Avenue, while Pomona offers a broad range of shopping, dining and everyday services.
Location
State CA
County Los Angeles
Area 687 - Pomona
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features Covered
Pool None
Community Features Curbs
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 8323029011
Energy Description 2160.0
Acceptable Financing Cash, Cash to Existing Loan
Listing Terms Cash, Cash to Existing Loan
Special Listing Condition Standard
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Listed by Benjamin Lin 1000 Realty Corporation 626-233-3678, DRE #01383988
Nearby School & Business
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