695 N Main ST new Save Request In-Person Tour Request Virtual Tour
Pomona,CA 91768
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR25082791
Year Built 1903
Lot Size 9,147 Sqft
Property Sub-Type Single Family Residence
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 ±7.14% CAP Rate (as a fully occupied student housing - buyer to verify), this offering provides an excellent ±9.47% 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 3 remaining bedrooms available.
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 large 2,900sf living space and is situated on a large 9,145sf lot. It has been fully upgraded with modern upgrades, and electrical panels have been upgraded as well. The large bathroom is a communal bathroom with triple sinks, three shower stalls, and several private toilet areas. One of the vacant bedrooms is a large bedroom that could easily accommodate 2 students. Washer and dryer is included in the rent – savvy owner should replace this into coin operated machines to boost the income.
The property has a side yard and back yard and has alley access to the parking area in the back. There is a 2-car garage that is being used as a game room. Savvy owners should convert this 2-car garage into a junior ADU. There is additional parking space (open area) accessible from the alley (gated).
Centrally located in Pomona, CA and just within minutes to Cal Poly Pomona, Claremont Colleges, Fairplex Pomona, Claremont, La Verne, San Dimas, Phillips Ranch, and other well-known cities in the area. It is minutes away from Lake Bonelli area, Raging Waters, dining and transportation on Holt Ave. It offers superb access to multiple freeways (FWY 10, FWY 71, and FWY 57).
Location
State CA
County Los Angeles
Area 687 - Pomona
Zoning POAP*
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Wood
Fireplaces Type None
Laundry Washer Hookup,Gas Dryer Hookup
Exterior
Parking Features Assigned
Garage Spaces 2.0
Garage Description 2.0
Fence Wood
Pool None
Community Features Suburban,Valley,Park
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
Building
Lot Description Front Yard,Lawn,Landscaped,Near Park,Near Public Transit,Street Level
Story 2
Foundation Raised
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash,Cash to New Loan
Listing Terms Cash,Cash to New Loan
Special Listing Condition Standard
Virtual Tour https://growthinvestmentgroup.com/listingdetail.aspx?pid=10483