19-Unit Apartment
New
For Sale
$3,300,000
614 N Caswell Ave, Pomona, CA 91767
Two-story multifamily property with on-site laundry, dedicated parking, and a single-unit configuration.
Property Size9,934 SF
Lot Size0.42 Acres
Price / SF$332.19
Days on Market2
Property Features for 614 N Caswell Ave
General Information
Standard status
Active
Size
9,934 SF
Total Parking Spaces
18
Lot size
0.42 Acres
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Cap Rate
5.15%
Multifamily Units
19
Amenities
on-site laundry
18 parking spaces and laundry on site.
The state-mandated SB 721 balcony inspection has been completed and cleared, saving a new investor time and capital.
The large lot and existing garage space offer potential to add accessory dwelling units (buyer to verify).
Walk Score of 82 with three bus lines within a tenth of a mile; Downtown Pomona, the Fox Theater and the Arts Colony sit under a mile away.
Employment anchored by education and healthcare: Western University, Pomona Valley Hospital, the Fairplex and Cal Poly are all within five miles.
Metrolink's Pomona–Downtown station sits under a mile southwest; the Metro A Line's Pomona–North terminus, two miles north, links to Downtown LA.
Building Details
Building Size
9,934 SF
Year Built
1942
Buildings
1
Stories
2
Units
19
Listing Agency:
MARCUS & MILLICHAP
Listed By:
Sean Rosenzweig · License #License(s): CA: 01406343
(213) 943-1897
Source:
Marcusmillichap
Added: Sep 13
Last Checked: Sep 14 at 5:33AM
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 MARCUS & MILLICHAP
Investment Insights
Based on property information with market context.
This two-story apartment property contains 9,934 square feet of improvements on an 18,122-square-foot parcel. The 19-unit configuration includes 17 units plus two non-conforming units, with all units identified as single units. The property also includes 18 parking spaces, on-site laundry, and garage space. Constructed in 1942, the building has completed and cleared the required SB 721 balcony inspection.
The property is located at the corner of Caswell Avenue and Pasadena Street, just north of Downtown Pomona. Downtown Pomona is less than a mile southwest, while three bus lines operate within a tenth of a mile. Metrolink’s Pomona–Downtown station is less than a mile southwest, and the Metro A Line’s Pomona–North terminus is just over two miles north. Pomona Valley Hospital Medical Center is just over a mile northwest, the Fairplex is about two miles northwest, and Cal Poly Pomona is about five miles west. The 10, 57, 60, and 71 freeways converge within a few miles. The stated cap rate is 5.15%.
The property is located at the corner of Caswell Avenue and Pasadena Street, just north of Downtown Pomona. Downtown Pomona is less than a mile southwest, while three bus lines operate within a tenth of a mile. Metrolink’s Pomona–Downtown station is less than a mile southwest, and the Metro A Line’s Pomona–North terminus is just over two miles north. Pomona Valley Hospital Medical Center is just over a mile northwest, the Fairplex is about two miles northwest, and Cal Poly Pomona is about five miles west. The 10, 57, 60, and 71 freeways converge within a few miles. The stated cap rate is 5.15%.
Key Highlights
- 19‑unit apartment community with 17 units plus two non‑conforming units
- 9,934 square feet of improvements on an 18,122‑square‑foot parcel
- Single two‑story building constructed in 1942
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
$153,886
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
4.66%
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%
$3,077,720
$3.1M
Cap Rate 7%
$2,198,371
$2.2M
Cap Rate 9%
$1,709,844
$1.7M
Market Conditions
NOI Build-Up for 9,934 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
$292.1K $29.40/SF
− Vacancy
−$12.3K −$1.23/SF
EGI
$279.8K $28.17/SF
− OpEx
−$125.9K −$12.67/SF
NOI
$153.9K $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 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%
$3,077,720
Cap Rate 7%
$2,198,371
Cap Rate 9%
$1,709,844
Alternative Uses
Best Use
Apartment 5plus
$2.20M
$1.92M – $2.56M
NOI $153,886 @ 7.0% cap · market cap 4.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.19M
$2.79M – $3.72M
NOI $222,967 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
19
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,213
Businesses Nearby
Explore this area
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
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 - Two-story multifamily property with on-site laundry, dedicated parking, and a single-unit configuration.
Where is this apartment building located?
The property is located at 614 N Caswell Ave Pomona, CA.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: 19‑unit apartment community with 17 units plus two non‑conforming units; 9,934 square feet of improvements on an 18,122‑square‑foot parcel; Single two‑story building constructed in 1942
