Silva Babaian  Realtor, Real Estate Agent, Granada Hills, CA

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    1072 Wilson Street, Pomona, CA 91768
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    • MLS#: 24441717 ( )
    • Street Address: 1072 Wilson Street
    • Viewed: 26
    • Price: $2,650,000
    • Price sqft: $0
    • Waterfront: No
    • Year Built: 1955
    • Bldg sqft: 0
    • Days On Market: 195
    • Additional Information
    • County: LOS ANGELES
    • City: Pomona
    • Zipcode: 91768
    • Provided by: Colliers International Greater Los Angel
    • Contact: Edward Edward
    • California Regional MLS IDX
    • DMCA Notice
    • Description
      We are pleased to exclusively present the Wilson Street Apartments, a well maintained 10 unit multifamily property located at 1072 West Wilson Street in Pomona, California. This value add investment opportunity offers a blend of stable, long term tenancy and significant upside potential in a prime Southern California rental market. Built in 1955, the two story building consists of ten spacious units, including four one bedroom/one bath units and six two bedroom/one bath units. The property sits on a large 17,442 square foot corner lot, offering 8,104 rentable square feet. Located in a quiet residential neighborhood, the complex provides tenants with ten enclosed garages and ample street parking. Additional amenities include an on site laundry facility, a secure gated entrance, and a spacious enclosed courtyard ideal for a children's play area. Each unit is individually metered for gas and electricity and is equipped with a wall mounted air conditioning unit and a gas wall heater. The property features a stable tenant base, with current rents over 25% below market, offering investors a substantial rental upside and the potential to achieve a Pro Forma CAP rate of 5.74%. Five of the units have been extensively renovated, featuring upgraded flooring, kitchens, and bathrooms. Pomona has no local rent control, allowing investors to maximize returns with rent increases under California AB1482. Additionally, there is potential for further income growth through the addition of accessory dwelling units (ADUs), subject to buyer verification. Strategically located, the Wilson Street Apartments are just a short drive from key transportation routes, including Interstate 10 and Highway 71, as well as popular destinations such as Mountain Meadows Golf Course and Pomona Fairplex, home to the world renowned LA County Fair and the historic Auto Club Raceway. This offering presents investors with the opportunity to acquire a stable, income generating asset with considerable potential for increased returns and long term growth in one of Southern California's most resilient rental markets.
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    Features
    Building Area Total
    1. 8104.00
    Country
    1. US
    Garage Spaces
    1. 10.00
    Heating
    1. Forced Air
    Laundry Features
    1. Community
    Levels
    1. Two
    Netoperatingincome
    1. 107385.00
    Parcel Number
    1. 8357006035
    Postalcodeplus4
    1. 2952
    Property Condition
    1. Updated/Remodeled
    Security Features
    1. Carbon Monoxide Detector(s)
    2. Gated Community
    3. Smoke Detector(s)
    Sourcesystemkey
    1. 24-441717:CLAW
    Tenant Pays
    1. Gas
    2. Electricity
    Totalexpenses
    1. 73851.00
    Views
    1. 26
    Year Built
    1. 1955
    Zoning
    1. POR3YY
    Headshot for Associate Silva Babaian
    1. Silva Babaian / Realtor
    2. Coldwell Banker Exclusive
    3. CalBRE Lic # 01365805
    4. Mobile: 818.414.6744
    5. Fax: 818.338.5836