$7,520,000
$7,800,000
3.6%For more information regarding the value of a property, please contact us for a free consultation.
1082 E Phillips BLVD Pomona, CA 91766
35,032 SqFt
Key Details
Sold Price $7,520,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 35,032 sqft
Price per Sqft $214
MLS Listing ID PW21165609
Sold Date 09/10/21
HOA Y/N No
Year Built 1964
Lot Size 1.766 Acres
Acres 1.7664
Property Description
We are pleased to present the Phillips Holly Terrace II apartment homes- 1082 & 1092 E Phillips Blvd, 1506, 1518, 1530, 1542, 1554 Holly Way, and 1079 Patterson St- 32 unit apartment community comprised of 8 contiguous, separate, legal fourplexes located on a quiet, residential, cul-de-sac street in the city of Pomona. The legal fourplex structure of the subject properties offers an investor multiple favorable financing and exit strategies down the road. The subject property possess an ideal unit mix of very spacious (approx. 1100 sf each) two bedroom one bath units with the following amenities: garages, separate gas & electric meters, separate hot water heaters, laundry rooms (for additional landlord income), open parking spaces and more. Some of the interiors have undergone renovations in kitchens and bathroom including new tubs and shower walls, new plumbing, countertops, flooring; however, the subject properties exteriors are in need of some exterior maintenance. The Phillips Holly Terrace apartments offer a substantial upside in rents of approx. 25%+. Currently offered at 15.1 GRM and a 4.4 CAP on actual rents with upside to 11.3 GRM/6.6 CAP - tremendous cash flow opportunity in todays market for the savvy apartment operator. Please see attached brochure in supplements for additional property information.
Location
State CA
County Los Angeles
Area 687 - Pomona
Zoning POR31000*
Rooms
Ensuite Laundry CommonArea
Interior
Laundry Location CommonArea
Cooling WallWindowUnits
Fireplace No
Laundry CommonArea
Exterior
Garage Spaces 50.0
Garage Description 50.0
Pool None
Community Features Sidewalks
Total Parking Spaces 55
Private Pool No
Building
Lot Description Item25UnitsAcre
Sewer SewerTapPaid
Water Public
New Construction No
Others
Senior Community No
Tax ID 8328009056
Acceptable Financing CashtoNewLoan
Listing Terms CashtoNewLoan
Financing Cash
Special Listing Condition Standard
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Bought with JOHN STEPHENS • KW COMMERCIAL