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1371 S Reservoir Street

Pomona, CA 91766
  • $1,550,000
  • STATUS: Active
  • ON SITE: 9 Days
  • ID#: SR22171040
UPDATED: 16 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

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 CRISNet MLS as of 2022-08-13T08:56:54.143. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Based on information from the i-Tech MLS as of 2022-08-13T08:56:54.143. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.searchhomesincalifornia.com/homes/131569091
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1371 S Reservoir Street Pomona, CA 91766

  • Price: $1,550,000
  • Status: Active
  • On Site: 9 Days
  • Updated: 16 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 3.00 Levels One Lot Features Lot 10000-19999 Sqft Lot Size Area 17375.0000 Parking Total 9.00 Uncovered Spaces 6.00

Interior Features

Common Walls 1 Common Wall Laundry Features None Laundry YN No

Property Features

Additional Parcels YN No Association Fee 0.00 Association YN No Community Features SidewalksSuburban Land Lease YN No New Construction YN No Pool Features None Pool Private YN No Property Attached YN Yes Property Sub Type Apartment Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Water Source Public Zoning Por4*

Listing provided courtesy of Kunal S. Sethi, CA DRE# 01351160, of Keystone Firm.


Based on information from CRISNet MLS as of 2022-08-13T08:56:54.143. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Based on information from the i-Tech MLS as of 2022-08-13T08:56:54.143. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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