920 W 3rd ST new Save Request In-Person Tour Request Virtual Tour
Pomona,CA 91766
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
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 6.42% 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
Area 687 - Pomona
Zoning POC3*
Building
Story 1
New Construction No
Others
Acceptable Financing Cash,Conventional,FHA
Listing Terms Cash,Conventional,FHA
Special Listing Condition Standard