631 Locust Street
Pomona, CA, 91766 $ 2,980,000
Bedrooms15 Baths3.0 Sq 8,988 Monthly Estimate*
$ 20,816
Listed by CB RICHARD ELLIS
for $2,980,000 with 15 bedrooms and 3 full baths. This 8,988 square foot home was built in 1948 on a lot size of 0.5392.
The property comprises of 15 units situated on two parcels that consist of 23,489 square feet lot of land. The property is positioned one block from Downtown Pomona between E 6th Street and E 7th Street and is within a short drive to the Fairplex, home of the annual LA County Fair and a multitude of international race car competitions and popular events. The property has been well maintained and many units have been upgraded. The property offers convenient access to nearby shops, grocery stores, eateries and municipal services. 631-639 S Locust Street features cottage-style single story duplexes and two story garden-style apartment units. The grounds are well-kept with mature and lush landscaping, individual yards, porches or patios, individual garages and an abundant amount of surface vehicle parking. The units feature fully-equipped kitchens with appliances, security screen doors, wall-to-wall carpet, wall air conditioning and heating. The property offers convenient access to the 71, 10, 57 and 60 Freeways connecting to all of Los Angeles County, as well as Riverside, San Bernardino and Orange counties. Neighboring cities include: Chino, Chino Hills, Claremont, San Dimas, La Verne and Ontario. Pomona provides a scenic atmosphere and is within a short distance to local landmarks, such as Downtown Pomona, Fox Theatre, Raging Waters, the Pomona Superior Court, Frank G. Bonelli Regional Park, California State Polytechnic University, the Downtown Pomona Metrolink Station and more. 631-639 S Locust Street in Pomona is an income-producing property and a great long-term investment. The property offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.
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FeaturesGeneralSewer PublicSewer
Heating WallFurnace
Cooling WallWindowUnits
Zoning POT3*
HOA 0.0
Garage Spaces 12.0
Pool Features None
Year Built 1948
Stories 1
Levels One Two
Property SubType Apartment
Gross Income 239052.0
Community Features Curbs Sidewalks
Additional Parcels Description 8335025004
County Los Angeles
Net Operating Income 149874.0
Operating Expense 82007.0
Insurance Expense 4896.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Garage Y/N Y
Special Listing Conditions Standard
Status Active
Directions Merge onto I-10 W Exit Towne Ave Turn Left onto N Towne Ave Turn Right on E Mission Blvd Turn Left onto S Locust Street
City Pomona
Entry Location 1
View Y/N N
Senior Community Y/N N
Total Units 15
MLS Area 687 - Pomona
Lot Size Square Feet 23489.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Number of Units Leased 15
Street Name Locust
Listing Terms Cash CashtoNewLoan
Spa Features None
Property Attached Y/N Y
Land Lease Y/N N
Electric Expense 1939.0
Home Warranty Y/N N
Fuel Expense 1461.0
Trash Expense 4932.0
Water Sewer Expense 6669.0
Lease Renewal Y/N N
Additional Parcels Y/N Y
Lease Considered Y/N N
Rent Control Y/N Y
Days on Market 93
Building Area Units SquareFeet
Standard Status Active
Year Built Source Assessor
Tax Lot 11
Total Actual Rent 238056.0
Property Sub Type Additional Apartment
Taxes 38839.0
Cap Rate 5.03
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ExteriorParking Features Garage
Lot Features Item1115UnitsAcre
Water Source Public
Total Parking 12.0
Lot Size Area 23489.0
Number of Buildings 5
Spa N
Building Area Total 8988.0
Lot Size Acres 0.5392
Lot Size Units SquareFeet
Lot Size Source Assessor
Number of Separate Water Meters 1
Number of Separate Gas Meters 15
Number of Separate Electric Meters 15
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorTotal Stories 2
Common Walls Item2CommonWalls
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Street Suffix Street
Laundry Features CommonArea
Entry Level 1
Electric On Property Y/N N
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* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $20,816
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Pomona, CA
Average List Price $1,090,737
Percent of Sale Price 63%
About Pomona, CA 154,854 Population
3% Since 2002
$ 52,342 Median Income
32.69 Median Age
38% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
5/9/2024 | $2,980,000 | -6.29% | Price Down |
2/28/2024 | $3,180,000 | -3.05% | Price Down |
2/7/2024 | $3,280,000 | | Listed Price |