Azure Apartment Homes offer residents quality living conditions in the heart  of the San Gabriel Valley. Residents are only moments from a plethora of recreation, nightlife, dining, and entertainment options. Nearby are numerous options for higher education including Cal-State Poly Pomona and Cal-State Fullerton. Additionally, being minutes from four major freeways allows convenient access to all of the most important areas of Los Angeles County, Orange County, and the Inland Empire.

The property is situated approximately ¼-mile south of Colima Road and 1 mile south of the Pomona (CA-60) Freeway adjacent to several single-family home residential communities. Three two-story buildings situated on 4¼ acres surround winding courtyards and open areas. Parking is provided in gated lots at the northern and southern edges of the property.

1974

YEAR BUILT

106,287 SF 

GROSS SQUARE FEET

126

TOTAL UNITS

827 SF

AVERAGE UNIT SIZE

RESIDENTS ARE ONLY MOMENTS FROM ALL THE INLAND EMPIRE,

LOS ANGELES, AND ORANGE COUNTY HAVE TO OFFER

VALUE-ADD OPPORTUNITY

Three basic floor plans within the 126-unit apartment community consist of one-bedroom and two bedroom apartments. Built in 1974, the building has been well-maintained and features an assortment of community features. Current ownership has recently invested nearly $450,000 in capital improvements which include:

  • Remodeled fitness center with new equipment

  • New BBQ area with seating

  • New pool furniture

Additionally, 15 apartments have undergone a "Full-Scope" improvement that includes:

  • New Cabinet Doors and Drawer Faces

  • Stainless-Steel Appliances

  • Vinyl Plank Flooring

  • Modern Ceiling Fans

  • Designer Hardware and Fixtures

These units on average rent for nearly $200 more per month than un-renovated units. An investor has the opportunity to substantially increase operating revenues and the asset's overall value by renovating the outstanding un-renovated units.

Another 99 apartments have undergone partial renovation with new flooring and cabinets. 12 apartments have received no recent updates. A capital expenditure program schedule is suggested in the investment analysis section.

PHOTO GALLERY