145 West Grove Street
$4,275,000
8
17
13,610
13,610
$314
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.
- 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 Total20
Private PoolNo
Cooling TypeCentral Forced Air
Total Units15.0
Building TypeAttached
Lot Size SourceOther
Living Area13610
LISTING UPDATED: 11/19/2024 08:55 AM
Property Details for 145 West Grove Street
Status | Active |
---|---|
MLS # | CV24236870 |
Days on Market | 3 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1974 |
County | San 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
Property History for 145 West Grove Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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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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