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Listed by Han Chen • Growth Investment Group Pasade
$810,000
Est. payment /mo
7,802 Sqft Lot
New
724 W 2nd ST Pomona, CA 91766
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Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRAR25082143
Style Bungalow
Originating Board California Regional MLS
Year Built 1902
Lot Size 7,802 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
Location
State CA
County Los Angeles
Area 687 - Pomona
Rooms
Kitchen Oven Range - Gas
Interior
Heating Wall Furnace
Cooling Window / Wall Unit
Laundry Laundry Area, Washer/Dryer - Owned
Exterior
Parking Features Other, Uncovered Parking
Garage Spaces 2.0
Pool 31, None
View None
Roof Type Shingle
Building
Lot Description Grade - Level
Foundation Raised
Water District - Public
Architectural Style Bungalow
Others
Tax ID 8342006011
Special Listing Condition Not Applicable
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