Skip To Content

631 Locust Street

Pomona, CA 91766
  • $3,280,000
  • STATUS: Active
  • ON SITE: 16 Days
  • ID#: CV24026610
UPDATED: 69 min ago
$3,280,000
  • 0
    BEDS
  • 0.54
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1948
County:
Area:

School Ratings & Info

Listing Agent(s): Eric Chen of CB RICHARD ELLIS (909-418-2000)


Description

The property comprises of 15 units situated on two parcels that consist of 23,489 square feet lot of land. The property is positioned one block from Downtown Pomona between E 6th Street and E 7th Street and is within a short drive to the Fairplex, home of the annual LA County Fair and a multitude of international race car competitions and popular events. The property has been well maintained and many units have been upgraded. The property offers convenient access to nearby shops, grocery stores, eateries and municipal services. 631-639 S Locust Street features cottage-style single story duplexes and two story garden-style apartment units. The grounds are well-kept with mature and lush landscaping, individual yards, porches or patios, individual garages and an abundant amount of surface vehicle parking. The units feature fully-equipped kitchens with appliances, security screen doors, wall-to-wall carpet, wall air conditioning and heating. The property offers convenient access to the 71, 10, 57 and 60 Freeways connecting to all of Los Angeles County, as well as Riverside, San Bernardino and Orange counties. Neighboring cities include: Chino, Chino Hills, Claremont, San Dimas, La Verne and Ontario. Pomona provides a scenic atmosphere and is within a short distance to local landmarks, such as Downtown Pomona, Fox Theatre, Raging Waters, the Pomona Superior Court, Frank G. Bonelli Regional Park, California State Polytechnic University, the Downtown Pomona Metrolink Station and more. 631-639 S Locust Street in Pomona is an income-producing property and a great long-term investment. The property offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.

Monthly Payment Calculator



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-23T21:32:58.127. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Brianna Miller | Synergy Real Estate. Licensed in the State of California, USA.
www.briannasellshomes.com/homes/147339357
Print Image

631 Locust Street Pomona, CA 91766

  • Price: $3,280,000
  • Status: Active
  • On Site: 16 Days
  • Updated: 69 min ago
  • ID#: CV24026610
0
Beds
0
Baths
0
½ Baths
0.54
Acres
1948
Built
Neighborhood:
687 - Pomona
County:
Los Angeles
Area:
687 - Pomona
Property Description
The property comprises of 15 units situated on two parcels that consist of 23,489 square feet lot of land. The property is positioned one block from Downtown Pomona between E 6th Street and E 7th Street and is within a short drive to the Fairplex, home of the annual LA County Fair and a multitude of international race car competitions and popular events. The property has been well maintained and many units have been upgraded. The property offers convenient access to nearby shops, grocery stores, eateries and municipal services. 631-639 S Locust Street features cottage-style single story duplexes and two story garden-style apartment units. The grounds are well-kept with mature and lush landscaping, individual yards, porches or patios, individual garages and an abundant amount of surface vehicle parking. The units feature fully-equipped kitchens with appliances, security screen doors, wall-to-wall carpet, wall air conditioning and heating. The property offers convenient access to the 71, 10, 57 and 60 Freeways connecting to all of Los Angeles County, as well as Riverside, San Bernardino and Orange counties. Neighboring cities include: Chino, Chino Hills, Claremont, San Dimas, La Verne and Ontario. Pomona provides a scenic atmosphere and is within a short distance to local landmarks, such as Downtown Pomona, Fox Theatre, Raging Waters, the Pomona Superior Court, Frank G. Bonelli Regional Park, California State Polytechnic University, the Downtown Pomona Metrolink Station and more. 631-639 S Locust Street in Pomona is an income-producing property and a great long-term investment. The property offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.
Exterior Features

Entry Level 1 Entry Location 1 Lot Features 11-15 Units/Acre Number Of Separate Electric Meters 15 Parking Features Garage Parking Total 12 Pool Features None Pool Private YN No Property Attached YN Yes Spa Features None Spa YN No

Interior Features

Common Walls 2+ Common Walls Cooling Wall/Window Unit(s) Cooling YN Yes Heating Wall Furnace Heating YN Yes

Property Features

Additional Parcels YN Yes Association Fee 0 Association YN No Cap Rate 4.32 Common Interest Community Apartment Community Features CurbsSidewalks Electric Expense 1939 Fuel Expense 1461 Garage YN Yes Gross Income 239052 Gross Scheduled Income 239052 Insurance Expense 4896 Land Lease YN No Laundry Features Common Area Levels OneTwo Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan Maintenance Expense 9275 Net Operating Income 141678 New Construction YN No New Taxes Expense 42397 Number Of Separate Gas Meters 15 Number Of Separate Water Meters 1 Number Of Units Leased 15 Operating Expense 90203 Other Expense 3000 Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Supplies Expense 1639 Total Actual Rent 238056 Trash Expense 4932 Vacancy Allowance 7172 Water Sewer Expense 6669 Water Source Public Zoning POT3*



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-23T21:32:58.127. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Brianna Miller | Synergy Real Estate. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372376194-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372376194-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372376194-2.jpg
Logo
Brianna Miller | Synergy Real Estate
140 N. Harvard Avenue #341
Claremont CA, 91711
Listing Agent(s): Eric Chen of CB RICHARD ELLIS (909-418-2000)