145 W Grove Street, Rialto, CA, 92376

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$4,275,000
38 Days On Site

145 W Grove Street
Rialto, CA 92376

For Sale|Apartment|Active
0
Beds
0
Full Baths
0
Partial Baths
13,610
SqFt
$314
/SqFt
1974
Built
County:
San Bernardino
Listed by Kristopher German of RE/MAX 2000 REALTY [email protected]
Call Now: 818-402-9763
Is this the home for you? We can help make it yours.
818-402-9763
145 W Grove Street145 W Grove Street145 W Grove Street145 W Grove Street
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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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Listing Snapshot
Price 
$4,275,000
Days On Site 
38 Days
Bedrooms 
N/A
Inside Area (SqFt) 
13,610 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.7899 Acres
Year Built 
1974
MLS® Number 
CV24236870
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
a month agoStatus changed to Active
a month agoListing updated with changes from the MLS®
a month agoListing first seen on site
General Features
Acres 
0.7899
Carport 
16
Number Of Stories 
1
Parking 
CarportGatedOn Site
Parking Spaces 
20
Property Condition 
Updated/Remodeled
Property Sub Type 
Apartment
Security 
Gated Community
Sewer 
Public Sewer
Special Circumstances 
Standard
SqFt Total 
13610
Style 
Colonial
Water Source 
Public
Interior Features
Cooling 
Central Air
Heating 
Central
Laundry Features 
Common Area
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Exterior Features
Exterior 
Garden
Lot Features 
Corner LotGarden
Pool Features 
None
Community Features
Building Access 
Ground
Community Features 
GatedStreet LightsSidewalks
Financing Terms Available 
Cash
MLS Area 
272 - Rialto


This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Neighborhood & Commute
Source: Walkscore
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