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Todd Kaufman

Rodeo Realty Fine Estates

todd@kaufmanproperties.com +1(805) 206-4313

Listed by Han Chen • Growth Investment Group Pasade

$ 990,000

Est. payment -/mo

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695 North Main Street Pomona, CA 91768

2,900 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 2,900 sqft

Price per Sqft $341

MLS Listing ID AR-25082791

Style Colonial

Year Built 1903

Lot Size 9,148 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 Dryer Included, Gas Dryer Hookup, Washer Hookup, Washer Included

Exterior

Parking Features Assigned

Garage Spaces 2.0

Pool None

Community Features Suburban, Valley

Utilities Available Sewer Connected, Water Connected, Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available

View Y/N No

View None

Building

Lot Description Front Yard, Landscaped, Lawn, Level with Street, Lot 6500-9999, Near Public Transit, Park Nearby

Sewer Public Sewer

Todd Kaufman

Agent | License ID: 01893578

+1(805) 206-4313

Todd Kaufman

695 North Main Street Pomona, CA 91768

Key Details

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Interior

Exterior

Building

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695 North Main Street