Description

We are pleased to present the opportunity to acquire a 3-unit multifamily investment property located at 593 N San Antonio Avenue in Pomona, California. The property is offered at $724,000, representing $194 per square foot and a pro forma cap rate of approximately 7.38%. The property sits on an approximately 8,300 square foot lot and consists of approximately 3,714 square feet of building area. The unit mix includes two (2) three-bedroom / one-bathroom units located in the main house and one (1) separate one-bedroom / one- bathroom unit. Each unit is individually metered for gas and electricity and features its own water heater, while the landlord currently pays for water, sewer, and trash utilities. Heating and cooling for the units are provided through wall-mounted HVAC units. Tenants currently park on-site as well as on the street, providing convenient parking access for residents. A one-car garage is located on the property and is currently being used for storage. A small laundry room with washer and dryer hook-ups is located within the downstairs unit of the main building. This offering presents a repositioning opportunity for investors seeking an income-producing asset with measurable rental upside. The property offers the potential to renovate and reposition the units to achieve market rents, or for an owner-user to occupy one unit while renting out the remaining units. Alternatively, a buyer may explore the possibility of reconverting the main building back into a single-family residence, subject to verification with the City of Pomona. Located within the Pomona submarket of Los Angeles County, the property benefits from proximity to several major employment and institutional anchors including Cal Poly Pomona, Pomona Valley Hospital Medical Center, and the Pomona Unified School District. Residents also enjoy convenient access to the Downtown Pomona Arts District, which offers a variety of restaurants, retail, and entertainment venues. The location provides excellent regional connectivity via Interstate 10 and State Routes 60, 71, and 57, allowing convenient access to surrounding employment hubs throughout the Inland Empire and San Gabriel Valley. Please do not disturb tenants. Interior inspections will be provided upon acceptance of an offer.