1072 Wilson St Pomona, CA 91768-2952

This exceptional 10-unit apartment building presents a compelling investment opportunity in Pomona, California. The property, situated on a sizable 0.4-acre corner lot, encompasses 8,104 square feet and features two, two-story buildings constructed in 1955. The unit mix includes four one-bedroom/one-bathroom and six two-bedroom/one-bathroom apartments, offering a diverse tenant base. Ten enclosed garages and ample street parking are provided. Building amenities include an on-site laundry facility, secure gated access, and a spacious courtyard. Individual gas and electric meters are installed in each unit, along with wall-mounted air conditioning and gas wall heaters. Five units have undergone extensive renovations, boasting upgraded flooring, kitchens, and bathrooms. Currently, rents are over 25% below market value, presenting a significant opportunity to increase revenue and achieve a projected cap rate of 5.74%. The property boasts a strong NOI of $107,385, contributing to an attractive 4.05% cap rate at the asking price of $2,650,000 ($265,000 per unit). Pomona's absence of local rent control allows for maximized returns under California AB1482. The property's strategic location near Interstate 10 and Highway 71, along with attractions like the Pomona Fairplex and Auto Club Raceway, enhances its appeal. Further income potential exists through the addition of accessory dwelling units (ADUs), subject to buyer verification. This property offers a blend of stable tenancy and substantial upside potential in a prime Southern California location. The Los Angeles County Assessor's Parcel Number (APN) is 8357-006-035.