5442-5450 Pomona Boulevard, a unique apartment asset with great amenities in one of the best locations in East LA bordering Monterey Park and Montebello. The property has been in the same ownership since 1990s and unique due to its single-story layout and its tremendously easy access to amenities on Atlantic Blvd (Monterey Park) and Montebello. It is within walking distance from many local & national retailers on Atlantic Blvd, and within walking distance from East LA College, the Vincent Price Art Museum, and the Metro Gold Line Atlantic Station. Tenants also enjoy proximity to Montebello Country Club which housed multiple hotels, and a major shopping center (in Montebello). The property is located nearby Citadel Outlets and Atlantic Times Square Monterey Park. Originally constructed in 1950 as a Garden-style office building, 5442-5450 Pomona Boulevard has been operated as apartments for many years and features a unique combination of amenities including Central HVAC in all units and a large, gated parking lot with 9 surface spaces and one handicap space. The property offers an excellent unit mix of all 2bedroom+1bathroom units. Each unit is sizable and has been upgraded within the past 4 years with new hardwood flooring and bathroom/kitchen fixtures. Each unit has individual water heater. The property has undergone major capital improvements during current ownership, which includes a brand new roof (10-year warranty), upgraded electrical, upgraded units, new exterior paint, and upgraded efficient planters. The property has a secured entrance, gated parking, and is separately metered for gas and electricity. It is situated on a large ±10,000SF lot and has been very well maintained by the current ownership inside and out. It has 10 parking spaces and does not require any soft story retrofit. Due to a large lot size, new owner may be able to add additional ADU units (buyer to verify). The property has maintained strong collections throughout the Covid-19 Pandemic and in 2022. There is a billboard located on the lot that is not part of the sale.
|--||New Value: $1,890,000|
|8/2/2022 3:02:03 PM||New Value: $1,890,000|
|7/19/2022 11:01:56 PM||New Value: $2,000,000|
|3/18/2022 6:35:00 PM||New Value: $2,250,000|