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1371 S Reservoir St, Pomona, CA 91766
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1371 S Reservoir St Pomona, CA 91766

$1,440,000 Sold Price as of 12/30/2022
  • 12 Beds
  • 6 Baths
  • 4,500 Sq.Ft.
Sold
$1,440,000 Sold Price as of 12/30/2022 Refinance Your Mortgage
Map preview of 1371 S Reservoir St, Pomona, CA 91766

Property Overview: 1371 S Reservoir St Pomona, CA has 12 bedrooms, 6 bathrooms, 4,500 living square feet and 17,375 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Bread and Butter 6 unit Apartment building located in central Pomona. The building consists of (6) two bed and one bath units. All units approximately 750 square feet and have a small side or rear yard. This single story building is located on a large 17,315 square foot R-4 zoned lot which provides the Buyer with an opportunity to develop additional units or redevelop the property in the future. There is also adequate parking on site. Current rents are well below market which provides and astute investor the opportunity to raise rents to achieve a high rate of return. All units are separately metered for gas and electric and the water is billed back to the tenants bi-monthly. All tenants are long term tenants and have paid through covid and pay on time. Drive by only, interior inspection with accepted offer only.

Listed by Kunal S. Sethi | BRE #01351160 | Sync Brokerage, Inc.
Last checked: 9 minutes ago | Last updated: October 3rd, 2023 | Source CRMLS | DOM: 68

Home details

Lot Sq. Ft
17,375
HOA Dues
$0/mo
Year built
1961
Garage
--
Property Type:
Mixed Use
Status
Sold
MLS#
SR22203202
City
Pomona
County
Los Angeles
Time on Site
608 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 1
  • # of Electric Meters: 6
  • # of Gas Meters: 6
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 6
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,404
  • Total Rent: $8,424
  • Pro Forma/Market Rent: $1,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $101,088
  • Net Operating Income: $73,675
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $24,380
  • Electric: $240
  • Gas/Fuel: $0
  • New Taxes: $17,700
  • Trash: $0
  • Gardener: $780
  • Insurance: $1,800
  • Professional Management: $0
  • Water/Sewer: $0
  • Other Expenses: $2,000
  • Other Expense Description: Repairs

Property Details for 1371 S Reservoir St

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • No Laundry
  • None
Fireplace Information
  • No Fireplace
  • None
Room Information
  • All Bedrooms Down
Interior Features
  • Levels: One
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 12
Lot Information
  • Lot Features: 6-10 Units/Acre, Lot 10000-19999 Sqft
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 6
  • Parcel Number: 8327004017
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected
Location / Neighborhood
Location Information
  • Directions: 1371-1381 S. Reservoir St.
Neighborhood Information
  • Community Features: Suburban
View more facts & features

Local Pomona Agent

Sale History for 1371 S Reservoir St

Last sold for $1,440,000 on December 30th, 2022

  • December, 2022

  • Dec 30, 2022

    Date

    Sold

    CRMLS: SR22203202

    $1,440,000

    Price

  • Sep 16, 2022

    Date

    Active

    CRMLS: SR22203202

    $1,475,000

    Price

  • August, 2022

  • Aug 25, 2022

    Date

    Canceled

    CRMLS: SR22171040

    $1,550,000

    Price

  • Aug 3, 2022

    Date

    Active

    CRMLS: SR22171040

    $1,550,000

    Price

  • Listing provided courtesy of CRMLS

    Six unit bread and butter building located in the up and coming city of Pomona in Los Angeles County. The building consists of six 2 bed and 1 baht units. All units are approximately 750 sqft. This single story building is located on a large 17,375 square foot R-4 zoned (*Buyer to investigate) lot which provides the Buyer with an opportunity to develop additional units or redevelop the property in the future. Current rents are approximately $1,404 and the market rents for similar units are around $1,800 which provides a perspective Buyer the opportunity to raise rents to achieve great cash flow and achieve an attractive cap rate. This part of the City of Pomona is currently not under County of Los Angeles rent control (* Buyer to investigate) which allows the perspective Buyer to increase cash flow much faster than similar properties in rent controlled areas. All units are separately metered for gas and electric and the water is billed back to the tenants bi-monthly. All tenants are long term and pay on time. Drive by only! Interior inspection is subject to an accepted offer.

  • August, 2022

  • Aug 25, 2022

    Date

    Canceled

    CRMLS: SR22169417

    $1,550,000

    Price

  • Aug 1, 2022

    Date

    Active

    CRMLS: SR22169417

    $1,550,000

    Price

  • Listing provided courtesy of CRMLS

    Six unit bread and butter building located in the up and coming city of Pomona in Los Angeles County. The building consists of six 2 bed and 1 bath units. All units are approximately 750 sqft. This single story building is located on a large 17,375 square foot R-4 zoned (*Buyer to investigate) lot which provides a Buyers with an opportunity to develop additional units in the future. Current rents are approximately $1,404 and the market rents are around $1,800 for similar units which gives a perspective Buyer the opportunity to raise rents to achieve great cash flow and achieve a very attractive cap rate. This part of the City of Pomona is not under the county of Los Angeles rent control (*Buyer to investigate) which allows the perspective Buyer to increase cash flow much faster than similar properties in rent controlled areas. All units are separately metered for gas and electric and the water is billed back to the tenants bi-monthly. All tenants are long term and pay on time. Drive by only! Interior inspection is subject to an accepted offer.

  • October, 2016

  • Oct 12, 2016

    Date

    Sold

    CRMLS: SR16152442

    $1,100,000

    Price

  • Sep 30, 2016

    Date

    Pending

    CRMLS: SR16152442

    $1,100,000

    Price

  • Jul 13, 2016

    Date

    Price Change

    CRMLS: SR16152442

    $1,100,000

    Price

  • Listing provided courtesy of CRMLS

    The property consists of six 2 BD+ 1 BA units. These are cottage style with individual bungalos. Two units share a roof but there are no common unit walls. There is plentiful onsite parking and pitched roofs for lower maintenance. Electric and gas are separately metered and the water is charged back to the tenants.

  • October, 2016

  • Oct 12, 2016

    Date

    Sold (Public Records)

    Public Records

    $1,100,000

    Price

  • December, 1993

  • Dec 30, 1993

    Date

    Sold (Public Records)

    Public Records

    $46,500

    Price

Show More

Tax History for 1371 S Reservoir St

Assessed Value (2020): $1,167,328
Year Land Value Improved Value Assessed Value
2020 $424,483 $742,845 $1,167,328

Home Value Compared to the Market

This property vs the competition

1371 S Reservoir St sold on December 30, 2022 for 125.19% higher than the current median sold price for the city of Pomona which is $655,000. The median sold price per/sqft for Pomona is $451 and this home is sold at $327.78 per/sqft which puts the price per square foot 27.32% lower than the current median sale per square foot for the city of Pomona.

About 1371 S Reservoir St

Detailed summary of property

1371 S Reservoir St is a mixed use that recently sold in Pomona, CA 91766. This mixed use property offered 12 bedrooms, 6 bathrooms, roughly 4,500 living square feet, and sits on an approximately 17,375 square foot lot. 1371 S Reservoir St was first listed on ArdentRealEstateGroup.com on September 16, 2022. The homeowner sold the property for $1,440,000. Home in Pomona are selling for a median price of $655,000 and a median price per square foot of $451. Based on Ardent Real Estate Group's Pomona Market Data, this home is sold 125.19% higher than the current median priced home. Local homes that are currently for sale include 2007 Pennsylvania Ave, 1965 E San Bernardino Ave and 5423 Dairy Ave. While the average home in Pomona, CA is selling in 44 days, 1371 S Reservoir St has a days on market of 68 days. There are currently 177 homes for sale in the Pomona real estate market and 133 of them are single family homes while 27 of them are condos and 17 are townhomes. For more information on this home for sale at 1371 S Reservoir St Pomona, CA 91766 contact Ardent Real Estate Group and we will put you in touch with one of our Pomona agents.

Public Facts for 1371 S Reservoir St

Public county record property details
Beds
12
Baths
6
Year built
1961
Sq. Ft.
4,500
Lot Size
17,374
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
30
APN
8327-004-017

The source for these homes facts are from public records.

91766 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$671,005
Median List Price/Sq.Ft.
$457
Median Sold Price
$670,000
Median Sold Price/Sq.Ft.
$438
Total Inventory
86
Median Sale to List Price %
103.24%
Avg Days on Market
36
Loan Type
Conventional (40%), FHA (20%), VA (0%), Cash (24%), Other (16%)

Thinking of Selling?

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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