We are pleased to exclusively present the Wilson Street Apartments, a well-maintained 10-unit multifamily property located at 1072 West Wilson Street in Pomona, California. This value-add investment opportunity offers a blend of stable, long-term tenancy and significant upside potential in a prime Southern California rental market. Built in 1955, the two-story building consists of ten spacious units, including four one-bedroom/one-bath units and six two-bedroom/one-bath units. The property sits on a large 17,442 square foot corner lot, offering 8,104 rentable square feet. Located in a quiet residential neighborhood, the complex provides tenants with ten enclosed garages and ample street parking. Additional amenities include an on-site laundry facility, a secure gated entrance, and a spacious enclosed courtyard ideal for a children’s play area. Each unit is individually metered for gas and electricity and is equipped with a wall-mounted air conditioning unit and a gas wall heater. The property features a stable tenant base, with current rents over 25% below market, offering investors a substantial rental upside and the potential to achieve a Pro Forma CAP rate of 5.74%. Five of the units have been extensively renovated, featuring upgraded flooring, kitchens, and bathrooms. Pomona has no local rent control, allowing investors to maximize returns with rent increases under California AB1482. Additionally, there is potential for further income growth through the addition of accessory dwelling units (ADUs), subject to buyer verification. Strategically located, the Wilson Street Apartments are just a short drive from key transportation routes, including Interstate 10 and Highway 71, as well as popular destinations such as Mountain Meadows Golf Course and Pomona Fairplex, home to the world-renowned LA County Fair and the historic Auto Club Raceway. This offering presents investors with the opportunity to acquire a stable, income-generating asset with considerable potential for increased returns and long-term growth in one of Southern California’s most resilient rental markets.
Property Details
Price:
$2,650,000
MLS #:
24441717
Status:
Active
Baths:
0
Address:
1072 W Wilson Street
Type:
Residential Income
Neighborhood:
687pomona
City:
Pomona
Listed Date:
Sep 18, 2024
State:
CA
ZIP:
91768
Lot Size:
17,447 sqft / 0.40 acres (approx)
Year Built:
1955
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Schools
Interior
Heating
Forced Air
Exterior
Garage Spaces
10.00
Parking Spots
10.00
Security Features
Carbon Monoxide Detector(s), Gated Community, Smoke Detector(s)
Stories Total
2
Financial
Tenant Pays
Gas, Electricity
Map
Community
- Address1072 W Wilson Street Pomona CA
- Area687 – Pomona
- CityPomona
- CountyLos Angeles
- Zip Code91768
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Courtesy of Colliers International Greater Los Angel. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
1072 W Wilson Street
Pomona, CA
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