145 West Grove Street

Rialto, CA 92376

$4,275,000
Price
8
Beds
17
Baths
13,610 Sq. Ft.
$314 / Sq. Ft.
13,610
Sq. Ft.
$314
per Sq. Ft.

Description

We are pleased to present an exceptional turn-key investment opportunity in a prime multi-family asset, offering a rare combination of solid cash flow and substantial upside potential. The property features an attractive unit mix of (1) 3-Bedroom/2-Bathroom, (1) 2-Bedroom/2-Bathroom, (10) 2-Bedroom/1-Bathroom, and (3) 1-Bedroom/1-Bathroom units, making it well-suited for a diverse tenant base. Recent capital improvements have brought the property to a "like-new" condition, with 13 out of 15 units...We are pleased to present an exceptional turn-key investment opportunity in a prime multi-family asset, offering a rare combination of solid cash flow and substantial upside potential. The property features an attractive unit mix of (1) 3-Bedroom/2-Bathroom, (1) 2-Bedroom/2-Bathroom, (10) 2-Bedroom/1-Bathroom, and (3) 1-Bedroom/1-Bathroom units, making it well-suited for a diverse tenant base. Recent capital improvements have brought the property to a "like-new" condition, with 13 out of 15 units undergoing comprehensive renovations that include new flooring, kitchens, bathrooms, walk-in closets, appliances, and updated electrical subpanels. The exterior has also been extensively upgraded, with new HVAC systems, a remodeled entryway, refreshed landscaping, and all copper plumbing, ensuring long-term durability and tenant satisfaction. Built in the 1970s, the property features colonial-style architecture and includes valuable amenities that enhance tenant experience, such as gated on-site parking, an on-site laundry facility, and a recreational room. For added privacy, the property offers a private entrance with an intercom system. Beyond the current upgrades, this property offers immediate value-add potential with approved plans for three ADUs, which will allow for increased rental income and overall asset appreciation. Currently, the property boasts a Gross Rent Multiplier (GRM) of 12.06 and a Capitalization Rate (Cap Rate) of 5.52%, with plenty of upside as market rents continue to rise and the ADU plans are implemented. With the combination of significant recent capital expenditures, desirable tenant amenities, and the approved ADU plans, this asset is primed for both strong short-term returns and long-term value growth. This is an ideal opportunity for investors looking for a well-maintained, cash-flowing property with substantial upside potential.
  1. Listed by Kristopher German • DRE #01800021 • Brokerage DRE #01264629 • RE/MAX 2000 REALTY • 909-645-0443

Property Details for 145 West Grove Street

Architectural Style
Colonial
Parking Spaces Total
20
Private Pool
No
Cooling Type
Central Forced Air
Total Units
15.0
Building Type
Attached
Lot Size Source
Other
Living Area
13610
LISTING UPDATED: 11/19/2024 08:55 AM

Property Details for 145 West Grove Street

StatusActive
MLS #CV24236870
Days on Market3
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1974
CountySan Bernardino County

Building Information for 145 West Grove Street

Building/Complex145 W Grove StFloor-Stories1Residences-Pet Policy-Year Built1974Building Size-

Property Information for 145 West Grove Street

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $354,576
  • Gross Scheduled Income: $354,576
  • Vacancy Allowance: 10637
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $343,939
  • Net Operating Income: $235,955
  • Laundry Income: $3,540
  • Gross Multiplier: 12.06
  • Cap Rate: 5.52
Expense Details
  • Operating Expense: $107,984
  • New Taxes Expense: $50,084
  • Gardener Expense: $4,200
  • Fuel Expense: $775
  • Electric Expense: $1,800
  • Insurance Expense: $13,931
  • Maintenance Expense: $11,250
  • Professional Management Expense: $0
  • Other Expense: $2,250
  • Other Expense Description: Reserves
  • Trash Expense: $6,294
  • Water Sewer Expense: $17,400
  • Total Expenses: $107,984
Tax / Assessment Info
  • Tax Tract Number: 543
  • Tax Census Tract: 35.09
  • CFD/Mello-Roos Fee: $10,542
  • Tax Lot: 01
Community / Development
Community / Development
  • Community Features: Sidewalks, Street Lights
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Cooling: Central Air
  • Heating Type: Central
  • Heating: Central
Exterior Features
  • Security Features: Gated Community
  • Security: Gated Community
  • Entry Location: Ground
  • Property Condition: Turnkey, Updated/Remodeled
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre, Corner Lot, Garden, Lot 20000-39999 Sqft
  • Number Of Units: 15
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Carport, Gated
  • Uncovered Spaces: 4
  • Open Other Spaces Total: 4
  • Parking Garage Spaces: 0
  • Carport Spaces: 16
  • Parking Features: Carport, Gated, On Site
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,995
  • Unit Type Total Rent: $2,995
  • Unit Type Pro Forma: 3150
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,033
  • Unit Type Total Rent: $1,033
  • Unit Type Pro Forma: 2450
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 10
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,973
  • Unit Type Total Rent: $19,730
  • Unit Type Pro Forma: 2150
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,799
  • Unit Type Total Rent: $5,399
  • Unit Type Pro Forma: 1895
  • Unit Type Type: 4
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Gas Meters: 16
  • Number Of Separate Water Meters: 1

Property History for 145 West Grove 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 145 West Grove Street

Taxable ValueLand$510,000Additions$2,754,000Total$3,264,000
Tax Record2024$39,866 ($3,322 / month)
Home Facts
Total Finished SqFt11,689 SqFtAbove Grade Finished SqFt11,689 SqFtLot Size34,409 SqFtStyleMulti-Family Res (5+ Units)Year Built1974Year Renovated1976CountySAN BERNARDINOAPN0127-543-01-0000

Schools near 145 West Grove Street

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

Rialto Middle School
Public6 to 8

Eisenhower Senior High School
Public9 to 12

Zupanic High School
PublicK to 12

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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145 West Grove Street is a multi-family home for sale in Rialto, CA 92376. This property was listed for sale on November 19, 2024 by RE/MAX 2000 REALTY, it's currently listed at $4,275,000. It has been on the market for a total of 3 days and was last sold on November 1, 2022. This listing's school district is Rialto Unified School District. Nearby schools include Bemis Elementary School, Rialto Middle School and Eisenhower Senior High School. 145 West Grove Street is a 8-bed, 17-bath, 13,610 sqft multi-family home built in 1974.

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 RE/MAX 2000 REALTY, Kristopher German, DRE #01800021

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.