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$ 1,050,000
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920 W 3rd Street Pomona, CA 91766
5 Beds
2,699 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type OTHER
Listing Status Active
Purchase Type For Sale
Square Footage 2,699 sqft
Price per Sqft $389
MLS Listing ID CL25622381
Bedrooms 5
HOA Y/N No
Year Built 1938
Lot Size 6,786 Sqft
Acres 0.16
Property Sub-Type OTHER
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 6.42% cap rate before even factoring in the ADU. After construction, it projects a 7.08% cap rate and a 10.53 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
Zoning POC3
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 8342008002
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Listed by Oscar Diaz • Marcus & Millichap