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Additional details
Listed by Han Chen • Growth Investment Group Pasade
$990,000
Est. payment /mo
9,148 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Pending
Purchase Type For Sale
MLS Listing ID CRAR25082791
Style Colonial
Year Built 1903
Lot Size 9,148 Sqft
Source California Regional MLS
Property Description
695 W Main Street, Pomona, a beautifully located single family residential that is operated as a student housing and carries a significant value-add opportunity. Offered at a very low price compared to competing properties and an extremely attractive ±6.72% CAP Rate (Proforma - stated CAP is as a fully occupied student housing - buyer to verify), this offering provides an excellent ±8.50% Cash-on-cash return with a low downpayment on a 30-year fixed mortgage (buyer to verify). The property is strategically located in Pomona Historical District, and within walking distance from Downtown Pomona. It has a very high Walk Score of 92 and only less than 10 minutes to CAL POLY POMONA. The property is only minutes away from Claremont Colleges, Pomona Fairplex, Claremont, San Dimas, La Verne and other well-known cities in East San Gabriel Valley. It is currently leased out to CAL POLY Pomona students with only 4 remaining bedrooms available. Because it is an SFR, it is exempt from Pomona Rent Control. Annual lease renegotiation with current tenant (Calpoly Pomona Fraternity) provides annual upside potential to bring the rents to full market proforma. The property was built in 1903, a two-story colonial architectural style, and has a total of 8 bedrooms and two bathrooms. It has a la
Location
State CA
County Los Angeles
Area 687 - Pomona
Rooms
Kitchen Oven Range - Gas, Refrigerator
Interior
Heating Wall Furnace
Cooling Window / Wall Unit
Laundry Gas Hookup, 30, Washer, Washer/Dryer - Owned, Dryer
Exterior
Parking Features Assigned Spaces
Garage Spaces 4.0
Pool 31, None
View None
Roof Type Shingle
Building
Lot Description Grade - Level
Foundation Raised
Water Hot Water, District - Public
Architectural Style Colonial
Others
Tax ID 8336014001
Special Listing Condition Not Applicable
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