145 W Grove Street
Rialto, CA 92376
- – beds
- – baths
- – sqft
- ~3/4 acre lot
- 1974 build
- – on site
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.
Last checked:
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Last updated Jan 31, 2025
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MLS# CV24236870 —
The Building
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Year Built:1974
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Year Built Source:Assessor
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New Construction:No
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Building Area Total:13610.00
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Building Area Units:Square Feet
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Total Number Of Units:15
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# of Buildings:1
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Architectural Style:Colonial
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Stories Total:1
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Entry Level:1
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Common Walls:2+ Common Walls
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# of Separate Gas Meters:16
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# of Separate Water Meters:1
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# of Separate Electric Meters:16
Interior
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Entry Location:Ground
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Laundry:Common Area
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Laundry:1
Location
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Directions:Just North of Foothill Blvd. West of Riverside Ave.
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Latitude:34.10878300
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Longitude:-117.37160100
The Property
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Property Type:Residential Income
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Subtype:Apartment
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Property Condition:Turnkey, Updated/Remodeled
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Lot Features:0-1 Unit/Acre, Corner Lot, Garden, Lot 20000-39999 Sqft
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Lot Size Area:34409.0000
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Lot Size Acres:0.7899
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Lot Size SqFt:34409.00
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Lot Size Source:Other
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Security Features:Gated Community
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Property Attached:1
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Additional Parcels:No
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Census Tract:35.09
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Tax Tract:543
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Tax Lot:01
The Listing
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Special Listing Conditions:Standard
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Parcel Number:0127543010000
Heating & Cooling
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Heating:1
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Heating:Central
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Cooling:Yes
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Cooling:Central Air
Utilities
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Sewer:Public Sewer
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Water Source:Public
The Community
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Features:Sidewalks, Street Lights
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Pool:None
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Senior Community:No
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Private Pool:No
Parking
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Parking:Yes
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Parking:Carport, Gated, On Site
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Parking Spaces:20.00
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Uncovered Spaces:4.00
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Carport Spaces:16.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
1/30/25
Jan 30, 2025
|
Price Changed | CRMLS_CA | $4,100,000 | -4.1% |
|
11/19/24
Nov 19, 2024
|
Listed / Active | CRMLS_CA | $4,275,000 | 33.6% (16.4% / YR) |
|
11/1/22
Nov 1, 2022
|
CRMLS_CA | $3,200,000 |
