724 W 2nd Street Active Save Request In-Person Tour Request Virtual Tour
Pomona,CA 91766
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR25133133
Bedrooms 7
Property Sub-Type Res Income 2-4 Units
Property Description
A strategically located Duplex with significant Value-Add Opportunity and 100% VACANT! Offered at attractive over 7% CAP Rate (proforma 100% vacant - buyer to verify), this offering provides a good 10% Cash-on-cash return with a low down payment on a 30-year fixed mortgage (proforma 100% vacant) buyer to verify. It is 100% and may be delivered vacant (depending on COE Date). 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 use
Location
State CA
County Los Angeles
Zoning Assessor
Interior
Cooling Wall/Window
Exterior
View Y/N No
Building
Story 2