145 W Grove St, Condo with 0 bedrooms, 0 bathrooms and 20 parking in Rialto CA | Image 1

$4,100,000

145 W Grove St, Rialto, CA

Name: 145 W Grove St, For Sale in Rialto - eXp Commercial Brokerage
Brand: RE/MAX 2000 Realty
SKU: CV24236870
Price: 4100000 CAD

Condo

For Sale

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0020

Key Facts
Description
Map

Key Facts

Type Apartment

Levels Residential Income

Size -

Garage No

Maintenance Fees $11,250

Taxes

Days Active 208

Approx. Age 1974

MLS® Number CV24236870

Property Address:

Average square foot calculated using Size range provided by listing agent.

Description

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.Show Description

MLS® NumberCV24236870

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry LevelCommon Area

Exposure

Exterior

GarageNo

Approx. Age1974

Stories1

Pets

Corp Number

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

HeatCentral

A/CCentral Air

Heating Fuel

Extras

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