32-Unit Apartment
For Sale
$7,800,000
1082 & 1092 E Philips and 1506 1518 1530 1542 1554 Holly Way 1079 Patterson St, Pomona, CA 91766
Eight separate legal fourplexes offer multiple building configurations within a residential cul-de-sac setting.
Property Size35,032 SF
Days on Market52
Property Features for 1082 & 1092 E Philips and 1506 1518 1530 1542 1554 Holly Way 1079 Patterson St
General Information
Standard status
Active
Size
35,032 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
exteriors are in need of some exterior maintenance
Financials
Cap Rate
4.4%
Gross Rent Multiplier
15.1
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
32 x 2BR/1BA (approx. 1100 sf)
Multifamily Units
32
Amenities
garages
separate gas & electric meters
separate hot water heaters
laundry rooms
open parking spaces
Building Details
Building Size
35,032 SF
Year Built
1964
Buildings
8
Units
32
Listing Agency:
Vanguard Property Group
Listed By:
Ed Diaz · License #01022469
Source:
Commercialcafe
Added: Sep 1
Changed: Oct 8
Last Checked: Oct 20 at 5:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Vanguard Property Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Phillips Holly Terrace II comprises 32 apartment units arranged across eight contiguous, legally separate fourplexes. The property includes spacious two-bedroom, one-bath residences of approximately 1,100 square feet each, along with garages, open parking, laundry rooms, separate gas and electric meters, and individual hot water heaters. Built in 1964, the community has kitchens and bathrooms with renovations in some units, including updated tubs and shower surrounds, plumbing, countertops, and flooring. Exterior maintenance is needed in some areas.
The apartment homes are located at the intersection of E. Philips Boulevard and Holly Way, with additional addresses on Patterson Street, in Pomona. Current operations reflect a 15.1 GRM and 4.4 CAP based on actual rents; the property information identifies potential metrics of 11.3 GRM and 6.6 CAP. The separate fourplex structure provides distinct building components for ownership and financing considerations.
The apartment homes are located at the intersection of E. Philips Boulevard and Holly Way, with additional addresses on Patterson Street, in Pomona. Current operations reflect a 15.1 GRM and 4.4 CAP based on actual rents; the property information identifies potential metrics of 11.3 GRM and 6.6 CAP. The separate fourplex structure provides distinct building components for ownership and financing considerations.
Key Highlights
- 32 units across 8 contiguous, separate legal fourplexes
- Approximately 1,100 square feet per two‑bedroom, one‑bath unit
- Garages, open parking, laundry rooms, separate meters, and individual hot water heaters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$590,156
Cap Rate
7.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,803,120
$11.8M
Cap Rate 7%
$8,430,800
$8.4M
Cap Rate 9%
$6,557,289
$6.6M
Market Conditions
NOI Build-Up for 35,032 SF
Gross rent
$882.8K $25.20/SF
− Vacancy
−$39.7K −$1.13/SF
EGI
$843.1K $24.07/SF
− OpEx
−$252.9K −$7.22/SF
NOI
$590.2K $16.85/SF
Area
Pomona, CA
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,803,120
Cap Rate 7%
$8,430,800
Cap Rate 9%
$6,557,289
Alternative Uses
Best Use
Multifamily LT 5
$8.43M
$7.38M – $9.84M
NOI $590,156 @ 7.0% cap · market cap 7.57%
Second Best
Apartment 5plus
$7.75M
$6.78M – $9.04M
NOI $542,676 @ 7.0% cap · market cap 6.96%
Theoretical Best
Office A
$11.23M
$9.83M – $13.10M
NOI $786,286 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
32
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
Explore this area
Business Placement
Demographics for 91766, CA
70,701
Population
20,217
Households
3.5
Avg Household Size
34
Median Age
20%
College-Educated
71%
High-School Grad
10.1 sq mi
ZIP Area
7,000
Density / Sq Mi
$77,699
Median Household Income
$34,705
Median Earnings
$1,776
Median Rent
$568,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight separate legal fourplexes offer multiple building configurations within a residential cul-de-sac setting.
Where is this apartment building located?
The property is located at 1082 & 1092 E Philips and 1506 1518 1530 1542 1554 Holly Way 1079 Patterson St Pomona, CA.
What is the asking price?
The asking price for this property is $7,800,000.
What are key features of this property?
This property features: 32 units across 8 contiguous, separate legal fourplexes; Approximately 1,100 square feet per two‑bedroom, one‑bath unit; Garages, open parking, laundry rooms, separate meters, and individual hot water heaters
