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145 W Grove Street
USD 4,275,000
Property ID: CV24236870
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145 W Grove Street ,92376
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icon 34409 SqFt
icon Built in 1974
icon USD 124/SqFt
icon 0 Bed
icon 0 Full
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Location Street View
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Interior Details
Bedrooms
0
Bathrooms
0
Interior Size
13610
Construction Details
Property Type --
Property Condition --
Architectural Style --
New Construction --
Year Built 1974
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Detailed Introduction Of This Home
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.
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Contact Development/Agent
Cissy Tang
TEL: (+1)626 9868**** icon
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Contact Development/Agent
icon
Cissy Tang
(+1)626 9868**** icon
Please enter your nationality
+87
Cannot be empty
Email address is invalid Email address not authenticated!
Cissy Tang
(+1)626 9868**** icon
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Photos (22)
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145 W Grove Street
USD 4,275,000 0 Beds
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