Phillips Holly Terrace II 32 Units (8-4 plxs)

Investment Overview

We are pleased to present the Phillips Holly Terrace II apartment homes - 32 unit apartment community comprised of 8 contiguous, separate, legal fourplexes located on a quiet, residential, cul-de-sac street in the city of Pomona. The legal fourplex structure of the subject properties offers an investor multiple favorable financing and exit strategies down the road. The subject property possess an ideal unit mix of very spacious (approx. 1100 sf each) two bedroom one bath units with the following amenities: garages, separate gas & electric meters, separate hot water heaters, laundry rooms (for additional landlord income), open parking spaces and more. Some of the interiors have undergone renovations in kitchens and bathroom including new tubs and shower walls, new plumbing, countertops, flooring; however, the subject properties exteriors are in need of some exterior maintenance. The Phillips Holly Terrace apartments offer a substantial upside in rents of approx. 25%+. Currently offered at 15.1 GRM and a 4.4 CAP on actual rents with upside to 11.3 GRM/6.6 CAP - tremendous cash flow opportunity in todays market for the savvy apartment operator.

Investment Highlights

• Quiet Residential Cul-De-Sac Location
• Low Density Area- Surrounded Primarily by SFRs
• Spacious 1100 SF Units w Large Kitchens
• Garages, Separate Water Heaters/Gas/Electric Meters For Each Tenant
• Big Upside in Rent (apprx 25%+)
• 15.1 GRM/4.4 Cap Act Rents with upside to 11.3 GRM/ 6.6 Cap Mrkt Rents
• Needs Minor Exterior Work-Some Renovated Interiors
• Onsite laundry rooms with month to month lease in place - renegotiate lease or installed owned machines