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.
For sale
Listing Provided by:
Kristopher German DRE #01800021 909-645-0443,
RE/MAX 2000 REALTY
$4,100,000
145 W Grove St, Rialto, CA 92376
28beds
17baths
13,610sqft
Est.:
Multi Family
Built in 1974
-- sqft lot
$-- Zestimate®
$301/sqft
$-- HOA
What's special
New hvac systemsRemodeled entrywayNew flooringAll copper plumbingRefreshed landscapingComprehensive renovationsWalk-in closets
- 247 days
- on Zillow |
- 356 |
- 13 |
Zillow last checked: 7 hours ago
Listing updated: July 24, 2025 at 05:30pm
Listing Provided by:
Kristopher German DRE #01800021 909-645-0443,
RE/MAX 2000 REALTY
Source: CRMLS,MLS#: CV24236870
Originating MLS: California Regional MLS

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 28
- Bathrooms: 17
Heating
- Central
Cooling
- Central Air
Appliances
- Laundry: Common Area
Features
- Common walls with other units/homes: 2+ Common Walls
Interior area
- Total structure area: 13,610
- Total interior livable area: 13,610 sqft
Property
Parking
- Total spaces: 20
- Parking features: Carport, Gated, On Site
- Carport spaces: 16
- Uncovered spaces: 4
Features
- Entry location: Ground
- Pool features: None
Lot
- Size: 0.79 Acres
- Features: 0-1 Unit/Acre, Corner Lot, Garden
Details
- Parcel number: 0127543010000
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Colonial
- Property subtype: Multi Family
- Attached to another structure: Yes
Condition
- Updated/Remodeled,Turnkey
- New construction: No
- Year built: 1974
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Street Lights, Sidewalks, Gated
- Security: Gated Community
Location
- Region: Rialto
Financial & listing details
- Price per square foot: $301/sqft
- Date on market: 11/19/2024
- Listing terms: Cash,Cash to New Loan
- Total actual rent: 29253
- Tenant pays: Electricity, Gas
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