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.
Property Details
Property Features
Property Information:
Architectural Style: Colonial
Year Built: 1974
Stories: 1
Listing Office:
Office Name: RE/MAX 2000 REALTY
Office Phone: (909) 645-0443
Listing Agent: Kristopher German
Exterior Features
Exterior Information:
Private Pool: No
Parking Information:
Parking: Carport, Gated, On Site
Lot Features
Lot Information:
Lot: Corner Lot, Garden
Lot Size: 0.79 Acres
Utilities
Utilities Information:
Heating: Central
Cooling: Central Air
Other
Directions Information:
Directions: Just North of Foothill Blvd. West of Riverside Ave.
Price Information
Listing Price Info
Price Summary:
List Price: $4,275,000
Tax Information:
Annual Amount: $16,965
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Rialto, CA.
This property is $3.6M more than the Median Sold Price in Rialto, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #CV24236870
Listing Office:
Office Name: RE/MAX 2000 REALTY
Office Phone: (909) 645-0443
Listing Agent: Kristopher German
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 11/21/2024, 3:20:51 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$16,965
$1,317,843
2020
$16,689
$1,304,330
2019
$16,201
$1,278,755
2018
$16,080
$1,253,682
2017
$5,753
$1,229,100
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
3
/10
George H. Dunn Elementary School
830 N Lilac Ave
Distance between this listing and this school0.62 miles
Public District Grades KG-5
5
/10
Henry Elementary School
470 E Etiwanda Ave
Distance between this listing and this school0.64 miles
Public District Grades KG-5
4
/10
Casey Elementary School
219 N Eucalyptus Ave
Distance between this listing and this school0.93 miles
Public District Grades KG-5
Nearby Schools
3
/10
Rialto Middle School
1262 W Rialto Ave
Distance between this listing and this school0.30 miles
Public District Grades 6-8
3
/10
Frisbie Middle School
1442 N Eucalyptus Ave
Distance between this listing and this school1.38 miles
Public District Grades 6-8
5
/10
Jehue Middle School
1500 N Eucalyptus Ave
Distance between this listing and this school1.89 miles
Public District Grades 6-8
Nearby Schools
3
/10
Vista Norte Public Charter
248 E Base Line Rd
Distance between this listing and this school1.00 miles
Public Charter Grades KG-12
5
/10
Eisenhower High School
1321 N Lilac Ave
Distance between this listing and this school1.09 miles
Public District Grades 9-12
3
/10
Zupanic High School
266 W Randall Ave
Distance between this listing and this school1.59 miles
The neighbors living near this home have an average income of $44,864. Residents of Rialto, CA typically earn between $35k-100k each year. Residents typically live in married, with kids family. Most residents in this area have high school diploma education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 145 W Grove St
What is the listing price of this property?
The listing price of 145 W Grove St property is $4,275,000.
What type of property is this?
The property 145 W Grove St is a condo located in Rialto, California, 92376.
Is this property for sale now?
Active Listing: 145 W Grove St is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $16,965 (source: MLS/based on county public records data).
Which year was this property built?
The year of construction for 145 W Grove St is 1974.
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This home is located at 145 W Grove St in Rialto, CA and zip code 92376. This home, which was built in 1974, sits on a 0.79 acre lot. It has been listed on Rocket Homes since November 20, 2024 and is currently priced at $4,275,000.
Rialto, CA housing market in October 2024 saw over 26 listings sold above listed price, more than 11 sold at listed price and over 2 sold below. In October 2024 in Rialto, CA there were 4.8% less homes for sale than in September 2024. In October 2024, listings were on the market for 25 days. During the same period, the median list price in this real estate market was $585,222.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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