Request More Info
Schedule a Showing
Share
Print
|
724 W 2nd St, Pomona, a strategically located Duplex with significant Value-Add Opportunity. Offered at attractive ±6.20% CAP Rate (as student housing - buyer to verify), this offering provides a good ±6.38% Cash-on-cash return with a low down payment on a 30-year fixed mortgage – buyer to verify. 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 used. There are plenty of backyard spaces for savvy investor to build ADUs. Savvy investors can also install coin operated washer/dryer in the 4bedroom unit to boost the cash flow. The 4-bedroom unit has been fully upgraded with modern upgrades and consists of 4 student housing bedrooms, the 1st bedroom is a large bedroom that can easily house 2 students and has 3 separate closets. The 2nd bedroom is a large bedroom that should generate slightly higher rent. The 3rd and 4th bedrooms are standard sized bedrooms. The bathroom for this unit is a communal bathroom with double bathroom sinks, 3 shower stalls and 2 toilet aeras. The kitchen has been fully upgraded with new kitchen cabinets and countertops.
Property Type(s):
Residential Income
| Last Updated | 4/14/2025 | Year Built | 1902 |
|---|---|---|---|
| Community | Pomona | County | Los Angeles |
Additional Details
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Gas Range |
| AREA | Pomona |
| CONSTRUCTION | Wood Siding |
| GARAGE | Concrete, Uncovered |
| HEAT | Wall Furnace |
| HOA DUES | 0 |
| LOT | 7802 sq ft |
| LOT DESCRIPTION | Level, Rectangular Lot, Street Level |
| PARKING | Concrete,Uncovered |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| STYLE | Bungalow |
| UTILITIES | Cable Connected,Electricity Connected,Natural Gas Connected,Phone Available,Sewer Connected,Water Connected, Electric: Standard |
| VIEW DESCRIPTION | None |
| WATER | Public |
| ZONING | POC3* |
Location
Contact us about this Property
| / | |
| We respect your online privacy and will never spam you. By submitting this form with your telephone number you are consenting for Carie Webber to contact you even if your name is on a Federal or State "Do not call List". | |
Listed with Growth Investment Group Pasade
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2025.
Twitter
Facebook
Email