1072 W Wilson St 10 Unit Block of Flats £2,046,964 (£204,696/Unit) 4.05% Net Initial Yield Pomona, CA 91768
INVESTMENT HIGHLIGHTS
- Strong unit mix of four 1-bedroom/1-bath units and six 2-bedroom/1-bath units
- Five of the units are completed renovated with new flooring, kitchen and bathroom
- Located on a large 17,442 square foot corner lot in a quiet residential neighborhood
- Current rents over 25% below market, presenting significant rental upside and potential to achieve a Pro Forma CAP rate of 5.74%
- Amenities include ten enclosed garages, an on-site laundry facility, secure gated access, and a spacious courtyard
- Close proximity to key attractions like Downtown Pomona, the Pomona Fairplex, and Auto Club Raceway
EXECUTIVE SUMMARY
The Pacific Partners of Colliers International is 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.
Please contact listing agents for offering memorandum.
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.
Please contact listing agents for offering memorandum.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
£142,603
|
£17.60
|
| Other Income |
£1,668
|
£0.21
|
| Vacancy Loss |
£4,278
|
£0.53
|
| Effective Gross Income |
£139,994
|
£17.27
|
| Taxes |
£24,279
|
£3.00
|
| Operating Expenses |
£32,767
|
£4.04
|
| Total Expenses |
£57,045
|
£7.04
|
| Net Operating Income |
£82,948
|
£10.24
|
PROPERTY FACTS
| Price | £2,046,964 |
| Price Per Unit | £204,696 |
| Sale Type | Investment |
| Net Initial Yield | 4.05% |
| Gross Rent Multiplier | 14.35 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.38 AC |
| Building Size | 8,104 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built | 1955 |
| Parking Ratio | 2.22/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Cooker
SITE AMENITIES
- Courtyard
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 676 |
| 2+1 | 6 | - | 900 |
PROPERTY TAXES
| Parcel Number | 8357-006-035 | Total Assessment | £1,067,583 (2024) |
| Land Assessment | £417,749 (2024) | Annual Taxes | £24,279 (£3.00/sf) |
| Improvements Assessment | £649,834 (2024) | Tax Year | 2023 |
ZONING
| Zoning Code | R3, Pomona |
