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145 W Grove Street

Rialto, CA 92376

$4,275,000

List Price

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1974

calendar_month Built

Property Description

We are pleased to present an exceptional turn-key investment opportunity in a prime multi-family asset, offering a rare combination of solid cash flow and substantial upside potential. The property features an attractive unit mix of (1) 3-Bedroom/2-Bathroom, (1) 2-Bedroom/2-Bathroom, (10) 2-Bedroom/1-Bathroom, and (3) 1-Bedroom/1-Bathroom units, making it well-suited for a diverse tenant base. Recent capital improvements have brought the property to a "like-new" condition, with 13 out of 15 units undergoing comprehensive renovations that include new flooring, kitchens, bathrooms, walk-in closets, appliances, and updated electrical subpanels. The exterior has also been extensively upgraded, with new HVAC systems, a remodeled entryway, refreshed landscaping, and all copper plumbing, ensuring long-term durability and tenant satisfaction. Built in the 1970s, the property features colonial-style architecture and includes valuable amenities that enhance tenant experience, such as gated on-site parking, an on-site laundry facility, and a recreational room. For added privacy, the property offers a private entrance with an intercom system. Beyond the current upgrades, this property offers immediate value-add potential with approved plans for three ADUs, which will allow for increased rental income and overall asset appreciation. Currently, the property boasts a Gross Rent Multiplier (GRM) of 12.06 and a Capitalization Rate (Cap Rate) of 5.52%, with plenty of upside as market rents continue to rise and the ADU plans are implemented. With the combination of significant recent capital expenditures, desirable tenant amenities, and the approved ADU plans, this asset is primed for both strong short-term returns and long-term value growth. This is an ideal opportunity for investors looking for a well-maintained, cash-flowing property with substantial upside potential.

Listing Information

List Price $4,275,000
Status Active
MLS CV24236870
Type Residential Income
Subtype Apartment
Year Built 1974
Lot Size 34,409
Structure Size N/A
DOM 15
Courtesy Of RE/MAX 2000 REALTY
Listing Agent Kristopher German DRE#01800021

Interior Features

Laundry Information
Location(s) Common Area
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Cooling Type
Cooling Type Central Air

Exterior Information

Maps

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king_bed N/A
shower N/A
straighten N/A
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Listing information courtesy of: Kristopher German, RE/MAX 2000 REALTY 626-427-0786. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 5th, 2024 at 5:12 AM 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.