631 South Locust Street
631 South Locust Street
Description
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.
- Listed by ERIC CHEN • DRE #01489184 • Brokerage DRE #00409987 • CB RICHARD ELLIS • 626-757-5717
Property Details for 631 South Locust Street
Location
Property Details for 631 South Locust Street
| Status | Active |
|---|---|
| MLS # | CV24026610 |
| Days on Market | 84 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1948 |
| County | Los Angeles County |
Location
Building Information for 631 South Locust Street
Payment Calculator
$19,520 per month
30 year fixed, 7.25% Interest
$17,355
$2,165
$0
Property Information for 631 South Locust Street
- Gross Income: $239,052
- Gross Scheduled Income: $239,052
- Vacancy Allowance: 7172
- Gross Operating Income: $231,880
- Net Operating Income: $145,183
- Gross Multiplier: 13.3
- Cap Rate: 4.57
- Operating Expense: $86,698
- New Taxes Expense: $41,211
- Gardener Expense: $2,400
- Fuel Expense: $1,461
- Electric Expense: $1,939
- Insurance Expense: $4,896
- Maintenance Expense: $9,275
- Professional Management Expense: $11,594
- Other Expense: $3,000
- Other Expense Description: Reserves
- Trash Expense: $4,932
- Water Sewer Expense: $6,669
- Supplies Expense: $1,639
- Total Expenses: $86,698
- Tax Block: 91
- Tax Tract Number: 408800
- Tax Census Tract: 4088.00
- CFD/Mello-Roos Fee: $2,820
- Tax Lot: 11
- Community Features: Curbs, Sidewalks
- Laundry: Yes
- Laundry Features: Common Area
- Cooling: Wall/Window Unit(s)
- Heating Type: Wall
- Heating: Wall Furnace
- Entry Location: 1
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Spa Features: None
- 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
- Garage Spaces: 12
- Parking: Yes
- Parking Garage: Garage
- Parking Garage Spaces: 12
- Carport Spaces: 0
- Parking Features: Garage
- 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 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 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
- 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
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 631 South Locust Street
Schools near 631 South Locust Street
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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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.