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Listed by Han Chen • Growth Investment Group Pasade
$990,000
Est. payment /mo
2,900 SqFt
Active
695 N Main Street Pomona, CA 91768
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Key Details
Property Type Single Family Home, Multi-Family
Sub Type OTHER
Listing Status Active
Purchase Type For Sale
Square Footage 2,900 sqft
Price per Sqft $341
MLS Listing ID CRAR25082791
HOA Y/N No
Year Built 1903
Lot Size 9,148 Sqft
Property Sub-Type OTHER
Source Datashare California Regional
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 larg
Location
State CA
County Los Angeles
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Wood
Fireplace No
Laundry Dryer, Gas Dryer Hookup, Washer, Other
Exterior
View None
Building
Lot Description Other, Front Yard, Landscaped
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