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1673 Alameda Street, Pomona, California 91768, Pomona, 91768 - bed, bath

1673 Alameda Street, Pomona, California 91768 home-pic-0
ACTIVE$1,125,000
1673 Alameda Street, Pomona, California 91768
0Bed
0Bath
4Sqft
7,341Lot
Year Built
1957
Close
-
List price
$1.13M
Original List price
$1.38M
Price/Sqft
$281,250
HOA
-
Days on market
-
Sold On
-
MLS number
IV24122650
Home ConditionPoor
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.12M(50th), sqft - 4(25th), beds - undefined(50th), baths - undefined(50th).

***Location, Location, Location*** Very pleased to offer, for sale four units, multi-family investment in the city of Pomona. (2 units with 2 bedrooms 1 bath) (2 units with 1 Bedroom 1 Bath. All units are separately metered for gas, electric and the water is billed to owner…Conveniently located in a beautiful neighborhood near Shopping, Restaurants, Hospitals, Fairplex area, (Cal Poly) California State Polytechnic and (Mt. Sac) Mount San Antonio College, with access to 10, 210, 5 & 60 freeways, and much more to offer. There is also adequate parking on site. This is the perfect opportunity for the growing family or Savvy/Astute Investors. *Building/Units “To Be Sold As Is”

Condition Rating
Poor
Built in 1957, this property is over 65 years old and is being sold 'As Is.' The images clearly show extremely dated kitchens and bathrooms with original or very old cabinets, countertops, appliances, and fixtures, suggesting renovations, if any, occurred 30-50+ years ago. The overall condition indicates a need for substantial repairs and rehabilitation, particularly for major systems and interior finishes, aligning with the 'Poor' condition criteria.
Pros & Cons

Pros

Multi-Family Investment: This quadruplex offers a compelling investment opportunity with four distinct units, providing multiple income streams for savvy investors or a growing family.
Strategic Location: Boasting a 'Location, Location, Location' advantage, the property is conveniently situated near major freeways (10, 210, 5, 60), educational institutions (Cal Poly, Mt. Sac), shopping, restaurants, and hospitals, enhancing tenant appeal and potential appreciation.
Separately Metered Utilities: Gas and electric utilities are separately metered for each unit, reducing the landlord's operating expenses and promoting tenant accountability for their consumption.
Significant Price Reduction: The property has seen a substantial price reduction from its original list price of $1,375,000 to $1,125,000, potentially offering a more attractive entry point and better value for prospective buyers.
Adequate On-Site Parking: The availability of adequate on-site parking is a valuable amenity for a multi-unit property, increasing convenience and desirability for tenants.

Cons

As-Is Condition: The property is explicitly sold 'As Is,' indicating that the buyer will be responsible for any necessary repairs, renovations, or upgrades, which could entail significant additional costs.
Older Construction: Built in 1957, the property is over 65 years old, suggesting potential for aging infrastructure, systems (plumbing, electrical), and higher ongoing maintenance or capital expenditure requirements.
Owner Pays Water Bill: Despite separate metering for gas and electric, the owner is responsible for the water bill for all four units, representing a recurring and potentially substantial operating expense.

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