INVESTMENT HIGHLIGHTS
- Close to 10% cash-on-cash return on a low Down Payment (±35%)
- Arguably one of the best Cash-flow apartment deal in East San Gabriel Valley
- Excellent 9-unit value-add with high cap rate and significant upside potential
- Recession proof building with market rate units and subsidized tenants
- Good location in a high rental demand area and minutes away from Cal Poly Pomona and Fairplex Pomona
- Walk Score 81
- Transit friendly location with superb access to FWY 10, and minutes from FWY 71 and FWY 57
PROPERTY HIGHLIGHTS
- Well-maintained bread-and-butter 9-unit in a good transit-oriented location
- Good unit mix spread over 3 separate buildings
- All units have been upgraded (buyer to verify)
- Large lot size ±9,195 SF on a high-density C4 zoning
- Adjacent to City of Claremont and minutes away from many nearby attractions (CAL Poly Pomona, Pomona Fairplex, Claremont Downtown, Raging Waters, Bonelli Park area, etc.)
- Sale includes permitted plan to build the 10th unit (a 3bed+2bath attic unit – buyer to verify)
- RUBS for utilities in place; Laundry hookups available for laundry area income
- Easy to manage and to rent apartment building
Executive Summary
Growth Investment Group is proud to present the sale of 455 N Hamilton Blvd, Pomona, a high-cashflow and high-return 9-unit Value-Add Opportunity in the East San Gabriel Valley area. Offered at extremely high ±7.62% Current CAP (buyer to verify) and low 8.46x GRM, this offering provides a whopping ±9.95% Cash-on-cash return (on a 65% LTV and ±6.5% interest rates – buyer to verify) which arguably is one of the best cashflow deal in a primary submarket in LA County. The property is strategically located on Hamilton Blvd crossing Holt Ave which is a major commercial street in the area. This provides consistent and high demand for rental units due to its friendly transit location. The property is only minutes away from Cal Poly Pomona, Pomona Fairplex, Claremont, San Dimas, La Verne and other well-known cities in East San Gabriel Valley.
The property was built in 1947 and is a combination of 3 buildings; the front building is a 2-story building and has 5 units, and the back 2 buildings are single-story building with 2 units/building. It has a total of 2,632 SF living area and is sitting on a large ±9,195 SF C4 zone. It offers a good unit mix of one 2bed+1bath, seven large studios, and one small studio. All units have been upgraded with new flooring, a new kitchen, and a new bathroom (buyer to verify). All units are market rate units; however, most of them are rented out to subsidized tenants providing security, stability and recession proof for the owner. The sale comes with an approved plan to convert the attic space in the front building into a 3-bedroom+2-bathroom unit which should bring additional cashflow on top of the already high cashflow.
Parking is provided by seven/eight open space parking in the front and the middle area of the lot. The property is master metered for electricity and gas, but the owner has RUBS system in place. There was a laundry area with laundry hookups that new owner can reutilize and bring additional laundry income.
Location Amenities and Access
Centrally located in Pomona, CA and just within minutes to Cal Poly Pomona, Fairplex Pomona, Claremont, La Verne, San Dimas, Phillips Ranch, and other well-known cities in the area. It is minutes away from Lake Bonelli area, Raging Waters, dining and transportation on Holt Ave. It offers superb access to multiple freeways (FWY 10, FWY 71, and FWY 57).