Welcome to 530 Curran Place, an exceptional 28-unit multi-family residential property situated on the border of Pomona and Phillips Ranch. This gem offers a thoughtfully designed unit mix, featuring 24 spacious 2-bedroom/1-bathroom units, and 4 cozy 1-bedroom/1-bathroom units.
Tenants will appreciate the convenience of ample on-site parking with 24 available car-port spaces and 10 total surface spaces, an on-site coin-operated laundry facility for added convenience, and a refreshing pool to relax and unwind. The property has seen substantial recent capital improvements, including the installation of a new security system with 36 cameras, powered entry/exit gates, refreshed landscaping throughout the premises, remodeling of 11 units, new paint and stucco repair, reinforced stair structures, and an upgraded pool pump and new pool plaster. Additionally, the roofing has been repaired or replaced, ensuring the property's long-term durability.
With current rental rates in place, the property exhibits a strong financial performance with a 12.63 Gross Rent Multiplier (GRM) and a 4.98% Capitalization Rate (Cap Rate). Furthermore, there's a significant opportunity for the buyer to add value, potentially achieving a Pro Forma GRM of 9.68 and a Pro Forma Cap Rate of 7.10% or higher by optimizing expenses.