CA > Rialto
Rialto, CA 92376,145 West Grove Street
Rialto, CA 92376,145 West Grove Street
Rialto, CA 92376,145 West Grove Street
Additional details
Paul Ward

Paul Ward

+1(805) 479-5004
Listed by Kristopher German • RE/MAX 2000 REALTY
$4,100,000
Est. payment /mo
13,610 SqFt
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UPDATED:

Key Details

Property Type Single Family Home

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 13,610 sqft

Price per Sqft $301

MLS Listing ID CV-24236870

Style Colonial

Year Built 1974

Lot Size 0.790 Acres

Property Sub-Type Apartment

Property Description

6.03% Current CAP Rate & 11.27 GRM! We are pleased to present an exceptional turn-key investment opportunity in a prime multi-family asset, offering a rare combination of solid cash flow and substantial upside potential. The property features an attractive unit mix of (1) 3-Bedroom/2-Bathroom, (1) 2-Bedroom/2-Bathroom, (10) 2-Bedroom/1-Bathroom, and (3) 1-Bedroom/1-Bathroom units, making it well-suited for a diverse tenant base. Recent capital improvements have brought the property to a "like-new" condition, with 13 out of 15 units undergoing comprehensive renovations that include new flooring, kitchens, bathrooms, walk-in closets, appliances, and updated electrical subpanels. The exterior has also been extensively upgraded, with new HVAC systems, a remodeled entryway, refreshed landscaping, and all copper plumbing, ensuring long-term durability and tenant satisfaction. Built in the 1970s, the property features colonial-style architecture and includes valuable amenities that enhance tenant experience, such as gated on-site parking, an on-site laundry facility, and a recreational room. For added privacy, the property offers a private entrance with an intercom system. Beyond the current upgrades, this property offers immediate value-add potential with approved plans for three ADUs, which will allow for increased rental income and overall asset appreciation. Currently, the property boasts a Gross Rent Multiplier (GRM) of 11.27 and a Capitalization Rate (Cap Rate) of 6.03%, with plenty of upside as market rents continue to rise and the ADU plans are implemented. With the combination of significant recent capital expenditures, desirable tenant amenities, and the approved ADU plans, this asset is primed for both strong short-term returns and long-term value growth. This is an ideal opportunity for investors looking for a well-maintained, cash-flowing property with substantial upside potential.

Location

State CA

County San Bernardino

Area 272 - Rialto

Interior

Heating Central

Cooling Central Air

Laundry Common Area

Exterior

Parking Features On Site, Carport

Pool None

Community Features Sidewalks, Street Lights

Building

Lot Description Corner Lot, Garden, Lot 20000-39999 Sqft, 0-1 Unit/Acre

Sewer Public Sewer

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agent

Paul Ward

+1(805) 479-5004

Broker Associate | License ID: 01354001

Broker Associate License ID: 01354001

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