Orchid Lane Apartments 383 Orchid Ln 19 Unit Apartment Building $6,367,950 CAD ($335,155 CAD/Unit) 6.44% Cap Rate Pomona, CA 91766

Newmontis Real Estate Investments is pleased to exclusively present 383 Orchid Lane, a 19-unit multifamily asset in Pomona, California, offered at $4,500,000 ($236,842/unit).
The Opportunity
383 Orchid Lane is fully occupied with rents well below market. Long-tenured residents — some in place since 2006 — have created approximately $10,265 per month of embedded loss-to-lease. The path to proforma is straightforward: every natural turnover resets to market with no repositioning capital, no construction risk, and no lease-up. Pomona has no local rent control ordinance; the property is subject only to California AB 1482 (5% + CPI annually, max 10%).
The seller has already validated the playbook. Seven units renovated since 2024 at an average of ~$11,000/unit are now achieving market rents, with documented costs and timelines available upon request. The remaining 12 units represent the same repeatable opportunity.
Financial Summary
Asking Price: $4,500,000 | $236,842/unit | $296/SF
T-12 NOI: $174,668 | T-12 Cap: 3.88%
Proforma NOI: $289,896 | Proforma Cap: 6.44%
In-Place GRM: 13.88× | Proforma GRM: 10.06×
Loss-to-Lease: $10,265/month | $123,180/year
ADU Opportunity
25 garages serve just 19 units. Under California ADU state law, select conversions could turn $75/month stalls into $1,900+ residential units. Buyer to verify feasibility with City of Pomona.
Property Details
Address: 383 Orchid Lane, Pomona, CA 91766
Units: 19 | Mix: 9×1BR/1BA, 8×2BR/1BA, 2×3BR/1BA
Year Built: 1960 | Building: 15,200 SF | Lot: 0.53 Acres
Parking: 25 single-car garages | Laundry: Common-area (CSC leased)
Zoning: R-3 | County: Los Angeles | APN: 8331-024-012
Offered free and clear — no loan assumption
Location
The property sits at S. Garey Avenue and Rio Rancho Road, minutes from SR-71 and I-10, with direct access to Ontario, Los Angeles, and the Inland Empire. The immediate trade area includes Target, Walmart, WinCo, Costco, Home Depot, and Food4Less within one mile. Cal Poly Pomona (~29,000 students) and major medical employers anchor sustained rental demand in the submarket.
Offering Memorandum and rent roll available upon request. Exclusively listed by Newmontis Real Estate Investments. All information deemed reliable but not guaranteed; buyer to independently verify.