Pomona, CA 91766 631 Locust Street

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Presented By: ERIC CHEN with CB RICHARD ELLIS; 626-757-5717
  • MLS# CV24026610
  • 02/06/2024
  • Request Tour
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  • BedBeds • 15
  • BathBaths • 3
  • FootageSQFT • 8,988
  • GarageGarage • 12

Home Details

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.
Presented By: ERIC CHEN with CB RICHARD ELLIS; 626-757-5717

Interior Features for 631 Locust Street

Other Interior Features

Air Conditioning Y/NYes
Basement (Y/N)No
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesCommonArea
Street SuffixStreet
Total Stories2

Other Rooms

Entry Level1

General for 631 Locust Street

Additional Parcels Description8335025004
Additional Parcels Y/NYes
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate4.57
Carport Y/NNo
CityPomona
Community FeaturesCurbs, Sidewalks
CoolingWallWindowUnits
CountyLos Angeles
Days on Market35
DirectionsMerge 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
Electric Expense1939.0
Entry Location1
Fuel Expense1461.0
Garage Spaces12.0
Garage Y/NYes
Gross Income239052.0
HOA0.0
HOA / Comm AssnNo
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense4896.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsOne, Two
Listing TermsCash, CashtoNewLoan
Lot Size Square Feet23489.0
MLS Area687 - Pomona
MaintenanceExpense9275.0
MobileHomeRemainsYNNo
Net Operating Income145183.0
New ConstructionNo
Number of Units Leased15
Operating Expense86698.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories1
Street NameLocust
Tax Lot11
Taxes$41,211
Total Actual Rent238056.0
Total Units15
Trash Expense4932.0
View Y/NNo
Water Sewer Expense6669.0
Waterfront Y/NNo
Year Built1948
Year Built SourceAssessor
ZoningPOT3*

Exterior for 631 Locust Street

Building Area Total8988.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem1115UnitsAcre
Lot Size Acres0.5392
Lot Size Area23489.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings5
Number of Separate Electric Meters15
Number of Separate Gas Meters15
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesGarage
SpaNo
Total Parking12.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $3,180,000
MLS#CV24026610
List Date 02/06/2024
Property Type Multi-Family
Phone 714.964.3311
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