383 Orchid Lane
19 Units · Proven Renovation Playbook · ADU Potential
Marketing description
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. The property is fully occupied with rents well below market — long-tenured residents paying 2006–2017 rents have created $10,265 per month of embedded loss-to-lease, a rent gap that grows with every natural turnover and requires no repositioning capital to capture. Pomona has no local rent control ordinance, giving the next owner full pricing power at each vacancy. The seller has already validated the playbook across 7 renovated units at an average cost of $11,000 each, with documented timelines available upon request. An additional value layer exists through the property's 25 garages — with only 19 units on site, select garage-to-ADU conversions under California state law could transform $75/month stalls into $1,900+ residential income. Complete offering materials available upon execution of a confidentiality agreement.
Investment highlights
- $10,265/mo embedded loss-to-lease — $123K+ annual upside at market rents
- 94.7% occupied with in-place income from day one
- Seller has proven the renovation playbook: 7 units completed at ~$11,000/unit with documented costs and timelines
- 12 un-renovated units remain — repeatable upside with no new strategy required
- ADU opportunity: 25 garages serving 19 units; select conversions from $75/mo stalls to $1,900+ residential units under California state law
- 6.44% proforma cap rate at $4,500,000 — driven entirely by organic rent normalization, not construction risk
- Offered free and clear — no debt assumption
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