631 Locust St, Pomona, CA 91766
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631 Locust St Pomona, CA 91766

$3,180,000
  • 15 Beds
  • 15 Baths
  • 8,988 Sq.Ft.
For Sale
$3,180,000 Get Pre-Qualified

Map preview of 631 Locust St, Pomona, CA 91766

Property Overview: 631 Locust St Pomona, CA has 15 bedrooms, 15 bathrooms, 8,988 living square feet and 23,489 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 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.

Listed by ERIC CHEN | BRE #01489184 | CB RICHARD ELLIS
Last checked: 4 minutes ago | Last updated: March 12th, 2024 | Source CRMLS | DOM: 75
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Home details

Lot Sq. Ft
23,489
HOA Dues
$0/mo
Year built
1948
Garage
12 Car
Property Type:
Apartment
Status
Active
MLS#
CV24026610
City
Pomona
County
Los Angeles
Time on Site
85 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 15
  • Total # of Buildings: 5
  • # of Leased Units: 15
  • # of Electric Meters: 15
  • # of Gas Meters: 15
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 12
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,306
  • Total Rent: $188,040
  • Pro Forma/Market Rent: $1,600
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,112
  • Total Rent: $26,688
  • Pro Forma/Market Rent: $1,400
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,944
  • Total Rent: $23,328
  • Pro Forma/Market Rent: $2,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.57%
  • Gross Rent Multiplier: 13.3
  • Gross Scheduled Income: $239,052
  • Net Operating Income: $145,183
  • Gross Operating Income: $231,880
  • Vacancy Allowance: $7,172
Annual Expense Breakdown
  • Total Operating Expense: $86,698
  • Electric: $1,939
  • Gas/Fuel: $1,461
  • New Taxes: $41,211
  • Trash: $4,932
  • Gardener: $2,400
  • Insurance: $4,896
  • Maintenance: $9,275
  • Professional Management: $11,594
  • Water/Sewer: $6,669
  • Other Expenses: $3,000
  • Other Expense Description: Reserves

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Property Details for 631 Locust St

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Common Area
Interior Features
  • Levels: One, Two
Exterior Features
Exterior Information
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 12
  • # of Parking Spaces: 12
  • Has Parking
  • Parking Features: Garage
Lot Information
  • Lot Features: 11-15 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 15
  • Parcel Number: 8335025005
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
  • Has Additional Parcels
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Merge onto I-10 W, Exit Towne Ave, Turn Left onto N Towne Ave, Turn Right on E Mission Blvd, Turn Left onto S Locust Street
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

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Sale History for 631 Locust St

Last sold for $2,200,000 on February 7th, 2017
  • February, 2024

  • Feb 6, 2024

    Date

    Active

    CRMLS: CV24026610

    $3,280,000

    Price

  • February, 2017

  • Feb 7, 2017

    Date

    Sold (Public Records)

    Public Records

    $2,200,000

    Price

  • March, 2012

  • Mar 16, 2012

    Date

    Sold (Public Records)

    Public Records

    $865,000

    Price

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Tax History for 631 Locust St

Assessed Value (2020): $1,857,914
Year Land Value Improved Value Assessed Value
2020 $530,604 $1,327,310 $1,857,914

Home Value Compared to the Market

This property vs the competition

631 Locust St is listed 367.65% higher than the median list price for the city of Pomona which has a median list price of $680,000. The median price per/sqft for Pomona is $458 and this home is listed at $353.81 per/sqft which puts the price per square foot 22.75% lower than the median price per square foot for the city of Pomona.

About 631 Locust St

Detailed summary of property

631 Locust St is a apartment located in Pomona, CA 91766 and is currently for sale. This apartment offers 15 bedrooms, 15 bathrooms, roughly 8,988 living square feet, and sits on an approximately 23,489 square foot lot. 631 Locust St was first listed on ArdentRealEstateGroup.com on February 6, 2024. The homeowner is currently asking $3,180,000 and was originally asking $3,280,000. The median priced home in Pomona is $680,000 with a median price per square foot of $458. Based on Ardent Real Estate Group's Pomona Market Data, this home is listed 367.65% higher than the median priced home. Local competing homes currently for sale include 200 E Wakefield Ave, 1551 W Ball Rd and 5842 Western Ave. While the average home in Pomona, CA is selling in 44 days, 631 Locust St has a days on market of 75 days. There are currently 161 homes for sale in the Pomona real estate market and 124 of them are single family homes while 21 of them are condos and 16 are townhomes. For more information on this home for sale at 631 Locust 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 631 Locust St

Public county record property details
Beds
12
Baths
12
Year built
1948
Sq. Ft.
7,016
Lot Size
15,666
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
10,11
APN
8335-025-005

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
$670,000
Median List Price/Sq.Ft.
$463
Median Sold Price
$670,000
Median Sold Price/Sq.Ft.
$438
Total Inventory
81
Median Sale to List Price %
103.24%
Avg Days on Market
36
Loan Type
Conventional (40%), FHA (20%), VA (0%), Cash (24%), Other (16%)

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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.