Foothill Suites 475 E Foothill Blvd Immeuble residentiel 60 lots 6 262 200 € (104 370 €/Lot) Taux de capitalisation 6,17 % Pomona, CA 91767

Marcus & Millichap is pleased to exclusively present a rare opportunity to acquire a value-add 60-unit extended stay property being operated as a multifamily
community in Pomona, California. Foothill Suites is located in the northernmost section of Pomona, which anchors the eastern end of Los Angeles County. This
serves as a gateway city to the powerful Los Angeles employment base and the Inland Empire, a region with a population of approximately four million people.
The city is surrounded by vibrant and affluent communities like La Verne to the west and Claremont to the east, and the submarket is known as a powerhouse of higher learning institutions. It is conveniently situated just 2 miles from the prestigious Claremont Colleges, including Claremont McKenna College, Pomona
College, Scripps College, Harvey Mudd College, and Pitzer College. Additionally, Foothill Suites is a short car ride away from other prominent educational
institutions such as Cal Poly Pomona, University of La Verne, and Western University of Health Sciences.
The property consists of 36 studios and 24 one-bedroom units, the property is designed to cater to the diverse housing needs of its residents. Foothill Suites offer convenience and amenities such as a swimming pool, controlled access for enhanced security, on-site laundry facility, and sixty open space parking spaces, ensuring practicality for residents. The building features a manager's office and is master metered for all utilities. The City of Pomona has rent control, buyer to verify.
Presently, the property’s vacancy rate is 15%, and the current Pomona sub-market vacancy rate is 3.45%. This delta of 12.55% vacancy upside through active
management gives the new investor a substantial upside in rental income. In addition, Foothill Suites would greatly benefit from implementing the Ratio Utility
Billing System (RUBS), this would add a sizable increase directly to the net operating income of the building. Given the property’s upside potential, desirable location, and connectivity between major employment centers in Los Angeles and the Inland Empire, Foothill Suites is poised to deliver meaningful returns and appreciation to investors over the next hold period.