1072 West Wilson Street

Pomona, CA 91768

$2,650,000
Price
16
Beds
10
Baths
8,104 Sq. Ft.
$327 / Sq. Ft.
8,104
Sq. Ft.
$327
per Sq. Ft.

Description

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...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.
  1. Listed by Edward Pan • DRE #01894476 • Brokerage DRE #01895979 • Colliers International Greater Los Angel

Property Details for 1072 West Wilson Street

Zoning
POR3YY
Parcel Number
8357006035
Total Units
10.0
Living Area
8104
Source Living Area
Vendor Enhanced
Area
Pomona (687)
Vacancy Rate
0
Lot Size Area
17447
LISTING UPDATED: 09/26/2024 12:01 AM

Property Details for 1072 West Wilson Street

StatusActive
MLS #24-441717
Days on Market168
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1955
Lot Size0.40 AC / 17,447 SF
CountyLos Angeles County

Building Information for 1072 West Wilson Street

Stories2Residences-Year Built1955Building Size-Lot Size0.40 AC / 17,447 SF

Property Information for 1072 West Wilson Street

Community / Development
Community / Development
  • Number Of Units: 10
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Apartment
  • Security Features: Carbon Monoxide Detector(s), Gated, Smoke Detector
  • Property Condition: Updated/Remodeled
  • Water Heaters: Yes
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $181,236
  • Net Operating Income: $107,385.00
  • Gross Income: $2,160
  • Gross Rent Multiplier: $14.35
  • Actual Annual Gross Rent: $184,614.00
  • Actual Gross Annual Income: $184,774
  • Vacancy Allow Dollar: $5,538.00
  • Vacancy Allow Percent: 3.00%
  • Owner Pays: Water, Gardener
  • Total Annual Expense: 73851
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.4005
  • Lot Size Square Feet: 17447
  • Lot Location: Corner Lot
Parking Details
Parking Details
  • Parking Garage: Garage Is Detached
  • Total Parking: 10
  • Garage Spaces Total: 10
  • Attached Garage: No
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Wall Unit(s)
  • Heating: Forced Air
  • Heating Type: Forced Air
  • Equipment: Range/Oven, Hood Fan
  • Laundry: Community
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 09-18-2024
  • Tenant Pays: Gas, Electricity
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,418.00
  • Unit Actual Rent: $5,674.00
  • Unit Projected Rent: $7,000.00
  • Like Units: 4
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,619.00
  • Unit Actual Rent: $9,712.00
  • Unit Projected Rent: $12,600.00
  • Like Units: 6
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $824,780.00
  • Assessed Improvement Percent: 60.87
  • Assessed Land Value: $530,214.00
  • Assessed Land Percent: 39.13
  • Assessed Total Value: $1,354,994.00

Property History for 1072 West Wilson Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1072 West Wilson Street

Taxable ValueLand$540,818Additions$842,675Total$1,383,493
Tax Record2024$19,124 ($1,594 / month)
Home Facts
Total Finished SqFt8,104 SqFtAbove Grade Finished SqFt8,104 SqFtLot Size17,442 SqFtStyleMulti-Family Res (5+ Units)Year Built1955ZoningPOR3YYCountyLOS ANGELESAPN8357-006-035

Schools near 1072 West Wilson Street

This home is within Pomona Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 8
Rating
School
Distance
Roosevelt Elementary School
PublicK to 5

Marshall Middle School
Public6 to 8

Ganesha High School
Public9 to 12

Cortez Elementary School
PublicK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1072 West Wilson Street is a multi-family home for sale in Pomona, CA 91768. This property was listed for sale on September 18, 2024 by Colliers International Greater Los Angel, it's currently listed at $2,650,000. It has been on the market for a total of 168 days and was last sold on February 4, 2014. This listing's school district is Pomona Unified School District. Nearby schools include Roosevelt Elementary School, Marshall Middle School and Ganesha High School. 1072 West Wilson Street is a 16-bed, 10-bath, 8,104 sqft multi-family home built in 1955.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Colliers International Greater Los Angel, Edward Pan, DRE #01894476

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.