Keegan Cin | Realtor® | License # DRE 01971604

Property

Pomona, CA 91768 1072 W Wilson Street

1072 W Wilson Street Pomona, CA - Image 11072 W Wilson Street Pomona, CA - Image 21072 W Wilson Street Pomona, CA - Image 3
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Presented By: Edward Pan with Colliers International Greater Los Angel;
  • MLS# 24441717
  • 09/18/2024
  • Request Tour
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  • Beds • 16
  • Baths • 10
  • SQFT • 8,104
  • Garage • 10
  • Year Built • 1955

Home Details

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.
Presented By: Edward Pan with Colliers International Greater Los Angel;

Interior Features for 1072 W Wilson Street

Bedrooms

Total Bedrooms16

Bathrooms

Half Baths0
Total Baths10
1/4 Baths
3/4 Baths

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesCommonArea
Total Stories2

General for 1072 W Wilson Street

Additional Parcels Y/NNo
Attached Garage No
Carport Y/NNo
CityPomona
Community FeaturesGated
CountyLos Angeles
DirectionsCorner lot on Wilson Street
Electric On Property Y/NNo
Full Baths
Garage Spaces10.0
Garage Y/NYes
Gross Income2160.0
HOANo
HeatingForcedAir
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Lot Size Square Feet17447.0
Lot Size UnitsSquareFeet
MLS Area687 - Pomona
MobileHomeRemainsYNNo
Net Operating Income107385.0
New ConstructionNo
Number Of Units Total10
Property Attached Y/NNo
Property ConditionUpdatedRemodeled
Property TypeResidentialIncome
Rent Control Y/NNo
Security FeaturesCarbonMonoxideDetectors, GatedCommunity, SmokeDetectors
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Tenant PaysElectricity, Gas
Year Built1955
ZoningPOR3YY

Exterior for 1072 W Wilson Street

Building Area Total8104.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.4005
Lot Size Area17447.0
Number of Buildings2
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking10.0
WaterfrontY/NNo

Additional Details

Price History

Keegan Cin

Team Lead
Price $2,650,000
MLS#24441717
List Date 09/18/2024
Property Type Multi-Family
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