Listed by Morgan Skenderian Investment Real Estate Group
$1,725,000
285 W Center
Details
APN 8336023011
Property Type Multifamily
Sub Type Apartment Building
Square Footage 7,488
Units 9
Cap Rate 6.66%
NOI $114,847
Occupancy 67%
Pro-Forma Cap Rate 8.48%
Pro-Forma NOI $146,287
Price per SqFt $230
Class C
Year Built 1914
Buildings 1
Stories 2
Acreage 0.171
Zoning Assessor
Parking Spaces 9 spaces
Parking Per SqFt 1.20
Investment Type Value Add
Ground Lease No
Ownership Fee Simple
9 Units | Near Downtown | $191,667/Unit
Marketing description
Pleased to present 285 W. Center Street, a 9-unit apartment community located in the heart of Pomona. The property consists entirely of spacious one-bedroom units averaging approximately 830 square feet each. Six of the interiors have been thoughtfully renovated, including upgraded water lines, electrical improvements, and modern finishes, providing immediate appeal to prospective tenants. Residents benefit from on-site open parking with nine dedicated spaces located at the rear of the building. With a combination of large floorplans, upgraded units, and strong local rental demand, the property offers investors a stable asset with clear value-add potential. **Seller may consider carrying short-term financing for a buyer.
Investment highlights
All One-Bedroom Units Averaging ±830 SF
(6) Renovated Interiors with Updated Water Lines & Electrical
Strong Rental Demand in Central Pomona
On-Site Parking Lot with (9) Open Parking Spaces
Low-Vacancy Asset with Operational Upside
Attractive Value-Add Opportunity in a Growing Submarket
Listing Contacts
Listed by Morgan Skenderian Investment Real Estate Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$114,847.00
$9,570.58/mo
Valuation Metrics
0
DSCR
6.66%
Cap Rate
6.66%
ROI
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