724 W 2nd ST, Pomona, CA 91766 – AR25082143 - Patricia Beattie

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Patricia Beattie

patricia@brivio.com +1(415) 286-8292

$810,000

Est. payment - /mo

7,801 Sqft Lot

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Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID AR25082143

Construction Status Repairs Cosmetic,Updated/Remodeled

HOA Y/N No

Year Built 1902

Lot Size 7,801 Sqft

Property Sub-Type Duplex

Property Description

724 W 2nd St, Pomona, a strategically located Duplex with significant Value-Add Opportunity. Offered at attractive ±6.20% CAP Rate (as student housing - buyer to verify), this offering provides a good ±6.38% Cash-on-cash return with a low down payment on a 30-year fixed mortgage – buyer to verify. The property is strategically located on 2nd St which is a walking distance from Downtown Pomona and less than 10 minutes to CAL POLY POMONA. This provides consistent and high demand for rental units due to its friendly transit location. 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.
The property was built in 1902 and consists of 2 units. The ground floor unit is a large 4bedroom + 1 communal bathroom (3 shower stalls, and 2 toilets). It is being operated as a student housing but could easily be operated as a regular apartment unit or owner-user unit. The 2nd floor unit is a large 3bedroom+1bathroom unit (#B). The property has ±2,978SF living space and situated on a large 7,802 SF C3 zone lot. Originally it was a 3-unit property where 2 units were combined to make the large 4-bedroom unit (buyer to verify). There are 3 separate electric meters, and electrical panels have been upgraded. It has a master meter for water and gas. The property has a large side and back yard and has alley access to the parking area in the back. There are 2 to 4 parking spaces in the back that are not being used. There are plenty of backyard spaces for savvy investor to build ADUs. Savvy investors can also install coin operated washer/dryer in the 4bedroom unit to boost the cash flow.
The 4-bedroom unit has been fully upgraded with modern upgrades and consists of 4 student housing bedrooms, the 1st bedroom is a large bedroom that can easily house 2 students and has 3 separate closets. The 2nd bedroom is a large bedroom that should generate slightly higher rent. The 3rd and 4th bedrooms are standard sized bedrooms. The bathroom for this unit is a communal bathroom with double bathroom sinks, 3 shower stalls and 2 toilet aeras. The kitchen has been fully upgraded with new kitchen cabinets and countertops.

Location

State CA

County Los Angeles

Area 687 - Pomona

Zoning POC3*

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Flooring Wood

Fireplaces Type None

Fireplace No

Appliance Gas Range

Laundry Common Area

Exterior

Parking Features Concrete, Uncovered

Fence Chain Link

Pool None

Community Features Suburban

Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Water Connected

View Y/N No

View None

Roof Type Asbestos Shingle

Total Parking Spaces 2

Private Pool No

Building

Lot Description Level, Rectangular Lot, Street Level

Faces North

Story 2

Entry Level Two

Foundation Raised

Sewer Public Sewer

Water Public

Architectural Style Bungalow

Level or Stories Two

New Construction No

Construction Status Repairs Cosmetic,Updated/Remodeled

Others

Senior Community No

Tax ID 8342006011

Energy Description 600.0

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

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Listed by Han Chen • Growth Investment Group Pasade • han.chen@growthinvestmentgroup.com

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Patricia Beattie

+1(415) 286-8292

Broker | License ID: 01405369

Broker License ID: 01405369

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724 W 2nd ST Pomona, CA 91766

Patricia Beattie

Key Details

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Exterior

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