631 South Locust Street

Pomona, CA 91766

$2,980,000
Price
4
Beds
15
Baths
8,988 Sq. Ft.
$332 / Sq. Ft.
8,988
Sq. Ft.
$332
per Sq. Ft.

Description

The property comprises of 15 units situated on two parcels that consist of 23,489 square feet lot of land. The property is positioned one block from Downtown Pomona between E 6th Street and E 7th Street and is within a short drive to the Fairplex, home of the annual LA County Fair and a multitude of international race car competitions and popular events. The property has been well maintained and many units have been upgraded. The property offers convenient access to nearby shops, grocery stores,...The property comprises of 15 units situated on two parcels that consist of 23,489 square feet lot of land. The property is positioned one block from Downtown Pomona between E 6th Street and E 7th Street and is within a short drive to the Fairplex, home of the annual LA County Fair and a multitude of international race car competitions and popular events. The property has been well maintained and many units have been upgraded. The property offers convenient access to nearby shops, grocery stores, eateries and municipal services.
631-639 S Locust Street features cottage-style single story duplexes and two story garden-style apartment units. The grounds are well-kept with mature and lush landscaping, individual yards, porches or patios, individual garages and an abundant amount of surface vehicle parking. The units feature fully-equipped kitchens with appliances, security screen doors, wall-to-wall carpet, wall air conditioning and heating. The property offers convenient access to the 71, 10, 57 and 60 Freeways connecting to all of Los Angeles County, as well as Riverside, San Bernardino and Orange counties. Neighboring cities include: Chino, Chino Hills, Claremont, San Dimas, La Verne and Ontario. Pomona provides a scenic atmosphere and is within a short distance to local landmarks, such as Downtown Pomona, Fox Theatre, Raging Waters, the Pomona Superior Court, Frank G. Bonelli Regional Park, California State Polytechnic University, the Downtown Pomona Metrolink Station and more.
631-639 S Locust Street in Pomona is an income-producing property and a great long-term investment. The property offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity.
  1. Listed by ERIC CHEN • DRE #01489184 • Brokerage DRE #00409987 • CB RICHARD ELLIS • 626-757-5717

Property Details for 631 South Locust Street

Parking Spaces Total
12
Private Pool
No
Cooling Type
Wall/Window
Total Units
15.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
8988
Assessor Parcel Number
8335-025-005

Location

Listing Courtesy of CB RICHARD ELLIS, ERIC CHEN, DRE #01489184
Add your commute
LISTING UPDATED: 05/09/2024 04:25 AM

Property Details for 631 South Locust Street

StatusActive
MLS #CV24026610
Days on Market127
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1948
CountyLos Angeles County

Location

Listing Courtesy of CB RICHARD ELLIS, ERIC CHEN, DRE #01489184
Add your commute

Building Information for 631 South Locust Street

Building/Complex631 S Locust StFloor-Stories2Residences-Pet Policy-Year Built1948Building Size-

Payment Calculator

$18,428 per month

30 year fixed, 7.25% Interest

Principal and Interest

$16,263

Property Taxes

$2,165

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 631 South Locust Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $239,052
  • Gross Scheduled Income: $239,052
  • Vacancy Allowance: 7172
  • Gross Operating Income: $231,880
  • Net Operating Income: $149,874
  • Gross Multiplier: 12.47
  • Cap Rate: 5.03
Expense Details
  • Operating Expense: $82,007
  • New Taxes Expense: $38,839
  • Gardener Expense: $2,400
  • Fuel Expense: $1,461
  • Electric Expense: $1,939
  • Insurance Expense: $4,896
  • Maintenance Expense: $9,275
  • Professional Management Expense: $6,956
  • Other Expense: $3,000
  • Other Expense Description: Reserves
  • Trash Expense: $4,932
  • Water Sewer Expense: $6,669
  • Supplies Expense: $1,639
  • Total Expenses: $82,007
Tax / Assessment Info
  • Tax Block: 91
  • Tax Tract Number: 408800
  • Tax Census Tract: 4088.00
  • CFD/Mello-Roos Fee: $2,820
  • Tax Lot: 11
Community / Development
Community / Development
  • Community Features: Curbs, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Cooling: Wall/Window Unit(s)
  • Heating Type: Wall
  • Heating: Wall Furnace
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Additional Parcels Description: 8335025004
  • Lot Features: 11-15 Units/Acre
  • Number Of Units: 15
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: One, Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 12
  • Parking: Yes
  • Parking Garage: Garage
  • Parking Garage Spaces: 12
  • Carport Spaces: 0
  • Parking Features: Garage
Unit Information
Unit 1
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,112
  • Unit Type Total Rent: $26,688
  • Unit Type Pro Forma: 1400
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 12
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,306
  • Unit Type Total Rent: $188,040
  • Unit Type Pro Forma: 1600
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,944
  • Unit Type Total Rent: $23,328
  • Unit Type Pro Forma: 2000
  • Unit Type Type: 3
Unit Information
  • Number Of Units Leased: 15
  • Rent Controlled: Yes
  • Number Of Buildings: 5
  • Number Of Separate Electric Meters: 15
  • Number Of Separate Gas Meters: 15
  • Number Of Separate Water Meters: 1

Property History for 631 South Locust 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 631 South Locust Street

Taxable ValueLand$557,759Additions$1,395,198Total$1,952,957
Tax Record2023$25,983 ($2,165 / month)
Home Facts
Total Finished SqFt7,016 SqFtAbove Grade Finished SqFt7,016 SqFtLot Size15,667 SqFtStyleMulti-Family Res (5+ Units)Year Built1948ZoningPOT3*CountyLOS ANGELESAPN8335-025-005

Schools near 631 South Locust Street

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

Simons Middle School
Public6 to 8

Garey High School
Public9 to 12

School Of Arts And Enterprise
Charter6 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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631 South Locust Street is a multi-family home for sale in Pomona, CA 91766. This property was listed for sale on February 6, 2024 by CB RICHARD ELLIS, it's currently listed at $2,980,000. This listing's school district is Pomona Unified School District. Nearby schools include Madison Elementary School, Simons Middle School and Garey High School. 631 South Locust Street is a 4-bed, 15-bath, 8,988 sqft multi-family home built in 1948.

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. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of CB RICHARD ELLIS, ERIC CHEN, DRE #01489184

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.