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$ 1,050,000
Est. payment | /mo
5 Beds
4 Baths
2,699 SqFt
$ 1,050,000
Est. payment | /mo
5 Beds
4 Baths
2,699 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,699 sqft
Price per Sqft $389
MLS Listing ID 25622381
Bedrooms 5
HOA Y/N No
Year Built 1938
Property Description
920 W 3rd Street is a fully renovated charming 4-plex with approved plans for a 2-bed/1-bath ADU, delivered mostly vacant in one of Pomona's fastest-growing neighborhoods. 3 of 4 bungalows will be delivered vacant and fully upgraded, featuring new bathrooms, updated kitchens, modern appliances, fresh paint, new flooring, contemporary finishes, storage room, + private yards. The property will include approved ADU plans, allowing an investor to begin construction immediately and add significant value. Once leased, the property will operate at an impressive 6.44% cap rate before even factoring in the ADU. After construction, it projects a 7.12% cap rate and a 10.49 GRM (including build costs), making this an exceptional investment. Whether you're an investor or an owner-user, this 4+1 asset offers immediate strong cash flow, plus the upside of additional equity through ADU development. Prime Location: Minutes from Downtown Pomona's Arts Colony, Western University of Health Sciences, Pomona Valley Hospital, the Metrolink Station, and with direct access to the 10 and 71 freeways. *The sqft reflected represents the ADU conversion.
Location
State CA
County Los Angeles
Area 687 - Pomona
Zoning POC3*
Interior
Fireplace No
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 8342008002
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
Financing Conventional
Special Listing Condition Standard
Listed by Oscar Diaz Marcus & Millichap