Apartment Building with Updated
For Sale
$1,320,000
602 Karesh Avenue, Pomona, CA 91767
Apartment building built in 1960 with multiple unit updates, including remodeled kitchens and new interior paint.
Property Size3,838 SF
Lot Size0.16 Acres
Price / SF$343.93
Days on Market187
Property Features for 602 Karesh Avenue
General Information
Standard status
Active
Size
3,838 SF
Lot size
0.16 Acres
Property subtype
Apartment
Building Details
Building Size
3,838 SF
Year Built
1960
Listing Agency:
KO TAI REALTY
Listed By:
LILY WANG · License #01321428
(562) 869-4248
Source:
Camdenmckayre
Added: Apr 29
Changed: Oct 31
Last Checked: Oct 30 at 11:46PM
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 KO TAI REALTY
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Investment Insights
Based on property information with market context.
Apartment building built in 1960 offering 3,838 SF of building area on a 7,098 SF lot. The property includes unit updates such as remodeled kitchens in units 2, 3, and 6, along with new interior paint in units 1, 2, 3, 4, and 6. New flooring has been completed in units 3 and 4.
The address is 602 Karesh Avenue in Pomona, CA 91767. The property is described as a 16-minute drive distance to Cal-Poly University.
Additional remarks indicate current rental performance is below marketing potential, with an opportunity for rental increases of 5% every year. This can be considered as part of a tenant or investor review of future income assumptions.
The address is 602 Karesh Avenue in Pomona, CA 91767. The property is described as a 16-minute drive distance to Cal-Poly University.
Additional remarks indicate current rental performance is below marketing potential, with an opportunity for rental increases of 5% every year. This can be considered as part of a tenant or investor review of future income assumptions.
Key Highlights
- 3,838 SF apartment building on a 7,098 SF lot
- Built in 1960
- Remodeled kitchens in units 2, 3, and 6
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,454
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,189,080
$1.2M
Cap Rate 7%
$849,343
$849.3K
Cap Rate 9%
$660,600
$660.6K
Market Conditions
NOI Build-Up for 3,838 SF
Gross rent
$112.8K $29.40/SF
− Vacancy
−$4.7K −$1.23/SF
EGI
$108.1K $28.17/SF
− OpEx
−$48.6K −$12.67/SF
NOI
$59.5K $15.49/SF
Area
Pomona, CA
Vacancy
4.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,189,080
Cap Rate 7%
$849,343
Cap Rate 9%
$660,600
Alternative Uses
Best Use
Apartment 5plus
$849.3K
$743.2K – $990.9K
NOI $59,454 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,143 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,043
Businesses Nearby
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Business Placement
Demographics for 91767, CA
51,654
Population
15,653
Households
3.3
Avg Household Size
36
Median Age
21%
College-Educated
80%
High-School Grad
5.7 sq mi
ZIP Area
9,062
Density / Sq Mi
$80,201
Median Household Income
$37,340
Median Earnings
$1,749
Median Rent
$585,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Apartment building built in 1960 with multiple unit updates, including remodeled kitchens and new interior paint.
Where is this apartment building located?
The property is located at 602 Karesh Avenue Pomona, CA.
What is the asking price?
The asking price for this property is $1,320,000.
What are key features of this property?
This property features: 3,838 SF apartment building on a 7,098 SF lot; Built in 1960; Remodeled kitchens in units 2, 3, and 6
