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.
Details
| MLS # | AR26175151 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1960 |
| Days On Site | 23 |
| Listing Provided By | 1000 Realty Corporation | Benjamin Lin |
Features
| SQ Feet | 3,838 |
|---|---|
| Story(s) | 2 |
| Units | 6 |
| Building(s) | 1 |
| Acreage | 0.16 |
Exterior
| Lot Features | Six To Ten Units Acre |
|---|
Parking
| Parking Features | Covered |
|---|---|
| Garage Yes / No | No |
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Curbs |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Pomona |
| Zip Code | 91767 |
| Area | 687 Pomona |
| Listing VS Median (in 91767) | |
Price: $1,220,000 low | high Med: $686,500 sqft: 3,838 low | high Med: 1,570 $ / sqft: $318 low | high Med: $452 On site: 23 low | high Med: 60.5 | |
Market Activity 91767
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Pomona |
| Zip Code | 91767 |
| Area | 687 Pomona |
| Listing VS Median (in 91767) | |
Price: $1,220,000 low | high Med: $686,500 sqft: 3,838 low | high Med: 1,570 $ / sqft: $318 low | high Med: $452 On site: 23 low | high Med: 60.5 | |
 | $1,320,000602 Karesh AvenuePomona, CA 91767 |