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$940,000 Sale
Listed 3 days ago
828 Hawthorne Place
· 7
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· 2950
Key Facts
Key facts for 828 Hawthorne Place
Property Type
Other
Parking
0 parking
MLS #
26998945
Size
2950 sqft
Basement
-
Listed on
-
Lot size
-
Tax
-
Days on Market
-
Year Built
1909
Maintenance Fee
-
Description
We are pleased to present 828 Hawthorne Place, a five-unit multifamily property located in Pomona, California. The property is centrally located within the eastern Los Angeles County market, providing residents with convenient access to major employment centers, transportation corridors, shopping, d...ining, and surrounding communities throughout the San Gabriel Valley and Inland Empire. 828 Hawthorne Place offers investors the opportunity to acquire a five-unit property with strong in-place income and significant value-add potential. With approximately 23.5% rental upside, investors have a clear path to increasing cash flow as rents are brought closer to market levels. The property features approximately 2,950 rentable square feet on an 6,712-square-foot lot (0.15 acres). The unit mix consists of three one-bedroom/one-bathroom units and two two-bedroom/one-bathroom units. The property also features gated on-site parking located at the rear of the property. Offered at $940,000, the property is priced at $188,000 per unit and $318.64 per square foot. The property is currently producing a 5.80% cap rate and 10.13 GRM, with the opportunity to achieve a pro forma 8.03% cap rate and 8.20 GRM as rents are increased toward market levels. Pomona continues to benefit from its central location between Los Angeles, Orange County, and the Inland Empire, along with strong renter demand and convenient access to major employment and transportation corridors. With strong in-place income, 23.5% rental upside, and attractive stabilized returns, 828 Hawthorne Place offers investors immediate cash flow with a clear path toward increased long-term value., Directions:From the 10 Freeway, exit Indian Hill Boulevard and head south. Turn right onto Holt Avenue, left onto San Antonio Avenue, then right onto Monterey Avenue. Turn right onto Hawthorne Place to arrive at 828 Hawthorne Place.
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Listing courtesy of: Marcus & Millichap