Homes for sale - 145 W Grove ST, Rialto, CA 92376

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Candice Blair

candice@candiceblairgroup.com +1(949) 466-0620

$ 4,275,000

Est. payment -/mo

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Active

145 W Grove ST Rialto, CA 92376

13,610 SqFt

UPDATED:

12/10/2024 06:34 PM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 13,610 sqft

Price per Sqft $314

MLS Listing ID CV24236870

Style Colonial

Construction Status Turnkey,Updated/Remodeled

HOA Y/N No

Year Built 1974

Lot Size 0.790 Acres

Acres 0.7899

Property Description

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 12.06 and a Capitalization Rate (Cap Rate) of 5.52%, 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 Carport, Gated, On Site

Pool None

Community Features Sidewalks, Street Lights

Private Pool No

Building

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

Story 1

Sewer Public Sewer

Water Public

Architectural Style Colonial

New Construction No

Construction Status Turnkey,Updated/Remodeled

Others

Senior Community No

Security Features Gated Community

Special Listing Condition Standard

Confidential INFO

TERMS Cash,Cash To New Loan

LIST AGRMT Exclusive Right To Sell

LIST SERVICE Full Service

SHOW CONTACT TYPE Agent

SHOW INSTRUCTIONS Do not walk on the property or disturb the tenants. For further information or to request a Marketing Package contact Deepen Shah 626-427-0798.

Listed by RE/MAX 2000 REALTY

Candice Blair

Broker Associate | License ID: 01395953 ‌

+1(949) 466-0620

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