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593 N San Antonio Ave
Pomona, CA 91767
593 N San Antonio Ave · Multifamily Property For Sale
·
3 Units
Investment Highlights
- Below-market rents with approximately 46% measurable rental upside potential (rental increases subject to Pomona Rent Stabilization – Ordinance No. 43
- Desirable unit mix consisting of two (2) three-bedroom / one-bathroom units and one (1) one-bedroom / one-bathroom unit
- Individually metered for gas and electricity with separate water heaters for each unit
- Repositioning opportunity offered at ~$194/ sq ft
- Situated on an approximately 8,300 square foot corner lot with approx 3,714 square feet of building area
- Laundry room with washer and dryer hook-ups located within the downstairs unit of the main building (Unit 595)
Executive Summary
Marcus & Millichap Real Estate Investment Services is pleased to present the opportunity to acquire a 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 alternatively reconvert the main building back into a single-family residence, subject to buyer 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.
Overall, the offering represents an opportunity to acquire a well-located value-add asset with significant upside potential in an established Pomona neighborhood supported by strong employment and housing demand.
Please do not disturb tenants. Interior inspections will be provided upon acceptance of an offer.
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 alternatively reconvert the main building back into a single-family residence, subject to buyer 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.
Overall, the offering represents an opportunity to acquire a well-located value-add asset with significant upside potential in an established Pomona neighborhood supported by strong employment and housing demand.
Please do not disturb tenants. Interior inspections will be provided upon acceptance of an offer.
Property Facts Under Contract
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 2 | - | - |
| 1+1 | 1 | - | - |
Property Taxes
| Parcel Number | 8337-017-001 | Improvements Assessment | $352,957 CAD |
| Land Assessment | $222,362 CAD | Total Assessment | $575,318 CAD |
Property Taxes
Parcel Number
8337-017-001
Land Assessment
$222,362 CAD
Improvements Assessment
$352,957 CAD
Total Assessment
$575,318 CAD
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