32-Unit Apartment
New
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 Market5
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
Last Checked: Sep 4 at 2:17AM
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
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$590,156
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Current Use
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
Questions? Ask Rey
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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
