1072 W Wilson Street

Pomona, CA 91768

$2,650,000

List Price

16

bed Beds

10

shower Baths

8,104 sqft

straighten / sqft

1955

calendar_month Built

Property Description

We are pleased to exclusively present the Wilson Street Apartments, a well-maintained 10-unit multifamily property located at 1072 West Wilson Street in Pomona, California. This value-add investment opportunity offers a blend of stable, long-term tenancy and significant upside potential in a prime Southern California rental market. Built in 1955, the two-story building consists of ten spacious units, including four one-bedroom/one-bath units and six two-bedroom/one-bath units. The property sits on a large 17,442 square foot corner lot, offering 8,104 rentable square feet. Located in a quiet residential neighborhood, the complex provides tenants with ten enclosed garages and ample street parking. Additional amenities include an on-site laundry facility, a secure gated entrance, and a spacious enclosed courtyard ideal for a children's play area. Each unit is individually metered for gas and electricity and is equipped with a wall-mounted air conditioning unit and a gas wall heater. The property features a stable tenant base, with current rents over 25% below market, offering investors a substantial rental upside and the potential to achieve a Pro Forma CAP rate of 5.74%. Five of the units have been extensively renovated, featuring upgraded flooring, kitchens, and bathrooms. Pomona has no local rent control, allowing investors to maximize returns with rent increases under California AB1482. Additionally, there is potential for further income growth through the addition of accessory dwelling units (ADUs), subject to buyer verification. Strategically located, the Wilson Street Apartments are just a short drive from key transportation routes, including Interstate 10 and Highway 71, as well as popular destinations such as Mountain Meadows Golf Course and Pomona Fairplex, home to the world-renowned LA County Fair and the historic Auto Club Raceway. This offering presents investors with the opportunity to acquire a stable, income-generating asset with considerable potential for increased returns and long-term growth in one of Southern California's most resilient rental markets.

Listing Information

List Price $2,650,000
Status Active
MLS 24441717
Type Residential Income
Year Built 1955
Lot Size 17,447
Structure Size 8,104
DOM 8
Courtesy Of Colliers International Greater Los Angel
Listing Agent Edward Pan DRE#01894476

Interior Features

Laundry Information
Location(s) Common Area
Total Bedroom
Bedrooms 16
Total Bathroom
Bathrooms 10

Exterior Information

Maps

Listing information courtesy of: Edward Pan, Colliers International Greater Los Angel . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 5:46 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.