Investment Overview

Marcus & Millichap is pleased to exclusively present the opportunity to acquire 901 & 923 North San Antonio Avenue, an 11-unit multifamily investment property located in the booming city of Pomona, California. The property has an excellent rental location on the northwest corner of North San Antonio Avenue and East Alvarado Street, across from San Antonio Elementary School. Emerson Middle School and Kingsley Elementary School are both within walking distance from the subject property, perfect for attracting long-term residents with families. Constructed in 1963, the property consists of two adjacent parcels with a combined 15,927 square feet lot. 901 N. San Antonio Ave (APN 8338-023-022) features two one-bedroom/one-bathroom units, two two-bedroom/one-bathroom units, and a large two-bedroom/one-and-a-half-bathroom unit. 923 N. San Antonio Ave (APN 8338-023-024) features two one-bedroom/one-bathroom units, three two-bedroom/one-bathroom units, and a large two-bedroom/one-and-a-half-bathroom unit. The larger two-bedroom units offer an additional den, a fireplace in the living room, and shares a new HVAC. Majority of the units have wall-unit air conditioning and heating. Selected units are renovated with carpet/vinyl flooring, new kitchen cabinetry, and granite countertops. The apartment buildings offer separate on-site laundry rooms (owned) and utility rooms. There are three double-car garages, five single-car garages, and six additional open parking for a total of seventeen parking spaces. The building on 923 N San Antonio Ave has a new roof as of May 2024. All units are individually metered for gas and electricity. Each building has separate central hot water heaters. The apartment has an ideal and stable rental location surrounded by single-family homes in a quiet suburban neighborhood. The property is with a two-mile radius of Interstate 10 freeway and the Amtrak Pomona Train Station, providing easy access to Downtown Los Angeles to the west and cities in the Inland Empire to the east. The property is just a short drive to multiple groceries stores and shopping malls, including Cardenas Markets, Walgreens, Stater Bros Markets, El Super, and The Claremont Promenade. In addition to its close proximity to multiple schools within the Pomona School District, the subject property is also a five-minute drive from Western University of Health Sciences. Founded in 1977, the university is a private medical university with an enrollment of over 3,700 students and has more than 20,000 alumni who rank among the top leaders in health care and medicine throughout the country. The city of Pomona is also home to California State Polytechnic University, a top-ranked public institution founded in 1938 with a campus size of over 1,400 acres, located within a ten-minute drive of the subject property. Cal Poly Pomona is ranked number one for Polytechnic University for diversity and economic mobility in 2022, number two in top public universities in the west coast, and a 4.5 of 5 stars best colleges in America. Situated approximately 30 miles east of Downtown Los Angeles, the city of Pomona is a dynamic, historically rich city with the combination of small-town charm and conveniences of affordable suburban living. The Pomona Fairplex, home to the Los Angeles County Fair, plays a significant role in the local economy, hosting events like concerts, expos, and conventions. In recent years, Pomona has focused on revitalizing its downtown area with an emphasis on urban renewal projects, including improvements to parks, public spaces, and local infrastructure. These efforts aim to boost the city’s appeal to younger residents and entrepreneurs, making it a vibrant place to live and work.